We’re the Type of Debt Recovery Agency You Need in the Pandemic
Categorised in: Our Blog
We’re in the middle of one of the biggest crises in our nation’s history. Two hundred thousand people have died from Covid-19, and the numbers are rising. The U.S. economy has dropped 32.9% in the worst G.D.P. report ever.
Consumers are spending less, unemployment is growing, inflation is rising, and businesses are closing. In this climate, there’s a misconception that collections have stopped. This belief is untrue in the vast majority of the country.
Whether you’re a small, medium, or large-sized business, you need strong cash flow to weather the storm. Your cash flow helps you pay your rent, inventory costs, repair bills, salaries, and your vendors. This process plays a small but essential role in putting the economy on the path of recovery.
Now more than ever, you need to partner with a debt collection agency that’s uniquely equipped to help you in this financial storm. Here are a few reasons why you need to turn to Summit Account Resolution in this pandemic:
#1 We’re an Ethical Debt Collection Agency
If your unpaid invoices are piling up, then you may understandably hesitate to hire a debt collection. A minority of debt collection agencies have a terrible reputation and are viewed as a group of wise guys out of a Martin Scorsese movie.
In these challenging times, you don’t want an agency that uses unethical tactics such as threats, harassment, robocalls, or misrepresentation to pressure debtors. Your clients are stressed enough as it is. They don’t need to be mistreated over past due accounts. You need an agency that stays on the right side of the law and only uses ethical means to get the job done.
At Summit A*R, we’re proud of our “P.H.D. Philosophy” (Preserve Human Dignity). The philosophy means that we treat every debtor with dignity and respect. Our philosophy isn’t new – it’s been our modus operandi for decades.
We always say that collection is in our blood. But so is our P.H.D. Philosophy.
Not only is hiring us good for your karma, but it’s great for your books. Our P.H.D. Philosophy works. Consumers respond better when they’re treated with respect, and we are happy to say that we have twice the national average recovery rate.
Most people want to pay their debts. With our polite but stern demeanor and our skilled negotiation tactics, we show them a path.
Our methodology applies to our clients too. We selectively choose clients who share our values. From small businesses and practices to large enterprises, we only represent companies that agree with our approach.
#2 Our Reputation Speaks for Itself
Don’t just take our word for it. Check our website for the positive feedback, including handwritten testimonials from debtors who were happy to pay their dues with our guidance.
Our long-term staff is trained to be friendly, helpful, and follow the standards of our no-complaint policy. Our reputation is evidenced by our A+ rating from the Better Business Bureau (BBB). This rating is only given to businesses that maintain a record of excellent customer service and minimize complaints.
#3 We Don’t Pressure You
In a challenging economy, you don’t want to throw good money after bad debt. You’re hiring a debt collection agency to collect your much-needed revenue, not add to your financial concerns. Unlike other agencies, we work with you on a contingency basis. This means that we only get paid when you get paid. You must pay our percentage only after we’ve successfully recovered your dues and don’t have to pay anything upfront.
What’s more, we don’t have any mandatory minimums. You can give use one account or one hundred. We realize that businesses of all sizes may need recovery assistance in this economic climate.
We keep our fees reasonable and upfront so that you won’t face any unpleasant surprises down the road. We’re in this together.
#4 We Specialize in Business to Business Recovery
We’re considered one of the best commercial debt collection agencies in the country because we understand your concerns. Your business wants to recover its revenue without jeopardizing its valuable reputation or its carefully cultivated relationships, especially in these uncertain times. Your reputation and your reputation will help you when the economy rebounds.
Our P.H.D. Philosophy applies to businesses too. We realize that there are people behind every business, and they deserve to be treated with respect. Usually, the official demand letters and phone calls from our agency are enough to recover your debt, but when those fail, we can also report businesses to the three major credit bureaus. Companies value their credit rating as it affects their ability to secure loans and pass background checks when dealing with new vendors and clients.
If you notice the following warning signs, then call the business to business collections specialists at Summit A*R as soon as possible:
- Your debtor has stopped responding to your emails and phone calls
- Your debtor also owes other vendors money
- Your debtor has been laying off employees
- Your debtor’s stock is taking a nosedive
- The morale at your debtor’s company is low
Statistics show that debt grows harder to collect with time. You don’t want to be beaten to the punch by your debtor’s other creditors. Its important to act fast to collect the payment you’re owed.
#5 We Have the Means to Recover Difficult Debt
Admittedly, while our methods are effective for most accounts, they aren’t enough for extremely stubborn ones. Some accounts need to be taken to court for legal action.
Fortunately, we have a robust full-scale litigation department that’s incredibly effective. We start with a financial investigation of the entity. If the financial study determines that legal action is feasible, then we approach you for authorization. After the legal fees have been paid, the matter is escalated. However, if you disagree, then the account is returned to the queue for more recovery efforts.
You can read more about 4 kinds of debtors that we usually deal with on our informative blog page. Regardless of the type of debtor you’re dealing with; you can trust Summit A*R to have the skills, means, and sensitivity to recover your revenue in this pandemic.