If your business is on shaky ground, you’re not alone. The COVID-19 pandemic has hit American businesses hard. Countless companies across the country have closed their doors, and according to the latest data, 60% of these companies are closing permanently.
Now more than ever, it’s essential for businesses like yours to collect overdue payments in order to pay vital operational costs such as rent, utility bills, salaries. You must also pay your own vendors and suppliers.
Thankfully, there’s light at the end of the tunnel! A leading American biotech company has developed a vaccine that’s 94.5% effective in protecting against COVID-19. In addition, the vaccine is faster and easier to develop than traditional vaccines. It’s just a matter of time before this crisis is over.
Until then, you need help converting your past due accounts into money. And at Summit A*R, we’re one of your best debt collection options for several compelling reasons:
We Offer a Full Suite of Services
At Summit A*R, we offer a full suite of debt recovery options, including commercial collections, consumer collections, and other debt collection services at our agency. We also cover a wide variety of industries, including rental, medical, dental, veterinary, and more. The chances are, we have the right professional for your industry.
For example, if you run a self-storage business, you can take advantage of our self storage collections services to recover your payments. The self storage industry has been particularly hard hit during the pandemic.
Before COVID-19, the self storage business was healthy. In 2019, a significant percentage of Americans paid rent for their units, and the industry was worth nearly $40 billion. Unfortunately, the industry has been rocked by coronavirus.
Countless people have left their items in storage units and skipped town, leaving business owners like you holding the bag. Not only must you spend resources clearing items out of your unit, but you must chase after your customer to reclaim your storage unit and collect your payments.
At Summit A*R, we’re uniquely suited to self storage collections due to three key characteristics:
- Countrywide Experience: We can collect payments from any corner of the country because we are knowledgeable about state laws. Even if your debtor has crossed state lines, we know what rules to use to win the case.
- Skip Tracing: We have a sophisticated skip tracing department that has powerful databases unavailable to most people. Using these robust tools, we can find most debtors and their assets. Of course, our skip tracing team is lead by a skilled private investigator who has an outstanding track record. In fact, our skip tracing team is the envy of other collection agencies.
- Comprehensive Client Portal: It can be nerve-wracking for you if your self storage customer owes you a significant sum and has vanished. That’s why we offer a comprehensive client portal, where you can view updates at any time of day. Of course, you can also reach out to the case manager assigned to you by Summit A*R for the latest news.
We’ve Been Doing This for Years
We’ve been in the debt collection business for 24 years and have seen various situations. Admittedly, COVID-19 has created one of the most unique situations in our lifetimes, but we draw on our wealth of experience to find unique solutions to your collection problems.
For example, if you’re a landlord interested in collecting overdue rent, we can draw on our experience to determine if a renter has genuine reasons for not paying or if they’re taking advantage of you. Afterwards, we can proceed accordingly.
We’re the Only Agency with a P.H.D. (in Collections)
During this volatile economic situation, you need to avoid debt collection agencies that use unsuitable tactics.
- Misrepresentation: Some debt collection agencies may lead your customers to believe that they’re part of law enforcement or members of the court. They may not say this outright but could imply it to pressure debtors.
- Threats: Some agents grow aggressive with debtors by using foul language or threatening them with fictitious consequences.
- Harassment: Many agencies are known to harass their targets by calling them several times a day or using robocalls to keep them up at night. Agents may also visit a debtor’s home, friends, or office to harass or humiliate them.
- Violence: A minority of debt collectors who has seen too many Quentin Tarantino movies or too many Martin Scorsese dramas use violent tactics.
At Summit A*R, we abhor these tactics. At our agency, we have a “P.H.D. Philosophy” (Preserve Human Dignity). This means that we treat every person with dignity and respect. Our experienced and licensed professionals handle each account with compassion and sensitivity. Of course, you can learn more about our team and the strategies we use by visiting our website.
Here are a few benefits you gain from our a “P.H.D. Philosophy”:
- Good Karma: At Summit A*R we believe that what goes around comes around. By avoiding negative tactics when collecting debt, you can also avoid negative vibes.
- Revenue Boost: You might be surprised to learn that negative tactics don’t improve the chances of collecting debt. On the contrary, most debtors, who are good, hardworking people, refuse to cooperate with agents who threaten or harass them. We’ve been in the debt collection business since 1996 and have a recovery rate that’s twice the national average because we treat people with humanity.
- No Legal Problems: Your business will avoid legal problems when you partner with an ethical debt collection agency like ours. The Federal Trade Commission (FTC) enacted the Fair Debt Collection Practices Act (FDCPA) because of complaints from customers. Those who violate the rights of debtors can get heavily fined or blacklisted.
- Strong Reputation: With the current economic crises likely to end soon, your business needs to come out of it smelling like a fresh rose. If an agency mistreats a customer in your company’s name, it could permanently dent your reputation. Keep in mind that in the digital age, any negative incident can quickly go viral.
- Strong Relationships: At the end of the day, you want to preserve your relationships with your clients. We have seen it before — your debtor today could become your best client tomorrow. So why risk your relationships in the business community?
In the age of COVID-19, you want to collect your revenue with an agency that takes a sensitive approach. Don’t hesitate to contact us to recover your dues the right way.
Categorised in: Our Blog
This post was written by Summit A•R