As the American economy slowly but surely moves towards recovery, businesses of all shapes and sizes continue to approach us for help with their debt recovery needs.
At Summit A*R, we have been in the debt collection business since 1986. As a debt collection agency with over two decades of experience, we have the expertise you need to recover your revenue. Over the years, we have served clients across many industries, including commercial, consumer, medical, dental, veterinarian, residential, apartment, and commercial landlords, cellular providers and more.
We do things differently. And it all starts with our attitude.
P.H.D. (Preserve Human Dignity) Philosophy
From our experience, we realized that most debtors are good people and want to pay their debts. That’s why we adopted our famous “P.H.D. Philosophy” (Preserve Human Dignity). This means that we approach debtors with professionalism and integrity at every step of the debt recovery process.
Our diplomatic approach is especially useful for our medical collections services. We pursue bad debt in a respectful and dignified way that protects your reputation and bottom line.
Remember, respect during medical debt collections can go a long way during a crisis. Unlike aggressive intimidation tactics, it shows your patients you have compassion for their situation. This helps you preserve goodwill for the future when they return to your hospital.
Our techniques aren’t just kinder; they’re also more successful. In fact, we boast a recovery rate that’s twice the national average.
We’re Proud of Our Affiliations
Our commitment to professionalism is evidenced by our A+ rating from the Better Business Bureau (B.B.B.). This rating is only given to companies that maintain a level of excellence and are serious about keeping customer complaints to a minimum. What’s more, we have many great reviews and positive feedback from clients and debtors. Many debtors are happy to pay off their dues and to be treated humanely.
Furthermore, we’re affiliated with reputable organizations such as the A.C.A. International and the International Association of Commercial Collectors. Both organizations promote positive values such as leadership, ethics, and more.
We’re Experts at Commercial Collections
At Summit A*R, we have many tools in our belt to help you with commercial debt recovery regardless of the nature of your industry:
- Reputation: We’re proud of our powerful reputation at Summit A*R. Sometimes, our campaign of official demand letters and phone calls is enough to close the account in your favor because businesses know us.
- Credit Reporting: Unlike your in-house collection team, our licensed debt collectors can report businesses to the three major credit bureaus: Equifax, TransUnion, and Experian. Credit scores are essential to businesses because they affect their ability to pass background checks. In economic uncertainty, businesses try to maintain pristine credit histories in order to secure vital loans. They usually clear their debts when they realize that their credit could be adversely affected because of delinquency.
- Full-Scale Litigation: At Summit A*R, we’re happy to say that we’ve recovered some exceptionally challenging debts over the years where other agencies have failed. Aside from our reputation and credit reporting tools, we also have full-scale litigation abilities to recover money from challenging debtors. Our litigation team is led by a licensed attorney. In addition, we have experienced agents who can perform financial investigations to determine the feasibility of legal action. Of course, any legal action is taken with your consent.
We’re Also Experts at Consumer Collections
Aside from commercial debt, we’re also experts are consumer collections. Here are some examples of consumer debt:
- Auto loans
- Cell phone bills
- Medical bills
- Personal loans
- Revolving credit
- Student loans
We’re Happy to Share Knowledge
At Summit A*R, we’re happy to share knowledge to make things easier for our clients. Here are some common industry terms you should know.
- Accounts payable are a company’s “current liabilities” – essentially, their debts and obligations.
- Creditors are entities that are owed money.
- Debtors are entities that owe creditors money.
- Bad debt is generally defined as debt that is considered unrecoverable.
- Bankruptcy is a concept that helps protect debtors who can’t pay off their debts.
- Cash Flow is the money coming into a business versus the money flowing out.
- Recovery rate is the amount from a debt recovered.
- Robocalls are auto-dialed phone calls used by some sleazy collection agencies to harass debtors.
Feel free to get in touch with us any time so that we can answer your queries. You can also check out the answers to some common debt collection questions in the business. If you’re in the rental property business, then you might be interested in this blog about landlord collection mistakes that must be avoided at all costs.
The Statute of Limitations
If you have debt recovery needs, then act fast because you can’t collect debt past the statute of limitations! The statute of limitations on debt is an important timeframe to keep in mind when collecting overdue payments. Think of it as a stopwatch marking the time you have left to take your debtor to court. Once time runs out, you may not sue your customer over what they owe.
Recovering Difficult Debt
We have the tools to recover revenue from all sorts of debtors, whether they’re consumers or businesses. Usually, we start the collections process with a campaign of phone calls and demand letters. If this doesn’t work, as mentioned above, we can report consumers and businesses to the credit bureaus.
Most debtors are willing to pay their dues when they realize that their credit rating could be affected. A bad credit report can affect a consumer’s ability to lease a car, rent a house, purchase a phone, or partake in other financial transactions.
We also have a skip tracing department to catch runaway debt in any part of the country. Our team is led by a licensed private detective and has an array of resources. At Summit A*R, we have a better find-rate than our competitors because of our world-class skip tracing department.
At Summit A*R, we’re prepared for just about everything. We have the experience and attitude to recover debt from most accounts. If a customer refuses to clear their dues despite being able to do so, we can take further action. Get in touch with us today to learn more.