At Summit A*R, we’ve been in the debt collection industry for a few decades and know that many businesses hesitate to pursue debt because they’re afraid of becoming the bad guy. Whether they’re owed money by other businesses or consumers, they don’t want their relationships and reputation to be adversely affected.
Of course, this is especially true nowadays when one negative incident can spread like wildfire on social media. Bad PR can quickly impact revenue and lower stock value. When businesses are already facing challenges due to the novel coronavirus, they don’t want a P.R. disaster.
At the same time, late payments can be a silent killer. With margins thin and your own bills piling up, the last thing you need is your stack of unpaid invoices to grow thicker. You must pay rent, salaries, utility bills, fixed costs, and variable costs. You may also need to invest in new growth opportunities or modernization to stay relevant when facing shelter-in-place orders.
Developing your app, website, SEO campaign, online shopping platform, and more to continue business in an increasingly connected world costs money.
As an experienced collection agency — we can offer you several tips to improve your accounts receivable turnover ratio and enhance your chances of survival during these unprecedented times.
- Embrace remote working procedures to minimize costs, stay safe, and enhance productivity.
- You can also reduce expenses by improving efficiencies.
- Shift to the online medium to find new income streams and connect with your partners and customers securely.
- Follow good accounting practices by using contracts, invoices, and deposits to ensure you’re paid on time.
- Send timely reminders on email and phone to collect payments.
Unfortunately, there’s no guaranteed way to completely put a stop to late payments from old and new customers alike in an uncertain economy. Ultimately, you’ll need commercial collection services from a good debt collection agency like Summit A*R.
We Can Help You Recover Revenue without Being the Bad Guy
Like any industry, there may be a few bad apples that tarnish the debt collection name, but they aren’t an accurate representation of our services. Unlike other agencies, we don’t take an aggressive approach. We don’t resort to shady tactics like robocalls, lies, threats, blackmail, etc.
Not only are negative tactics unsavory, but they’re against the law. The Federal Trade Commission (F.T.C.) protects consumers with the Fair Debt Collection Practices Act (FDCPA). This federal law prevents debt collectors from using underhanded methods against customers.
Our expertise tells us that most people are responsible and want to pay their dues. We help them find a way. We also know that debtors work with collectors when treated with dignity and respect. 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.
You might be surprised to learn that negative tactics don’t improve the chances of collecting a 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.
We Have Been Doing This for a Long Time
At Summit A*R, we’re highly experienced. That’s why countless businesses rely on our help across the United States from some of the following industries:
- Medical: We’re considered one of the leading medical collection companies in the United States because we can rescue your struggling profit margins while adopting a diplomatic approach and avoiding aggressive tactics.
- Dental: At Summit A*R, we have perfected the art of converting unpaid bills into cash while safeguarding your reputation and relationships. Our “P.H.D. Philosophy” is especially critical in the digital age, where a single negative review can seriously damage your reputation.
- Veterinary: At Summit A*R, we boast twice the national recovery rate because we take a friendly yet stern approach. We know that most pet owners want to pay their dues. With our courteous persuasion methods, we help them find a way.
- Commercial Real Estate: If your commercial tenant has stopped paying their rent or broken their lease, time is critical. You need an experienced and effective commercial tenant agency like Summit A*R to recover your revenue before other creditors move faster than you.
- Residential Real Estate: You may already be owed a sizable sum. Chasing down your former tenant will cost you even more resources. With our measured approach to rent collection, we can negotiate a suitable solution for both parties.
- Self-Storage Businesses: COVID-19 has had a negative impact on self-storage businesses. As more people lose jobs, they move out of urban locations without settling their affairs. By the time their account is in arrears, they’ve already relocated to faraway places. We have a full skip tracing department that can locate your customers and their assets, even if they’ve crossed state lines.
- Independent Cellular Dealers: With your margins already razor-thin, you can’t afford to write off bad debt during the COVID-19 pandemic. At Summit A*R, we can recover your lost revenue quickly and cost-effectively. Our wireless chargeback collections programs can recover 3-5 times what even your best internal processes can recover.
We Help Businesses of All Sizes
It’s a myth that debt collection agencies only partner with large corporations. At Summit A*R, we serve companies of all sizes. Our team has a broad understanding of industries to help with any debt transaction. This flexibility allows us to cater to all businesses, big and small. It doesn’t matter if you’re a mom-and-pop outfit or a corporation with thousands of people on the payroll. We apply the same due diligence to each case.
While we may have built a reputation for taking on the fast-paced corporate world, we can scale our expertise to meet any sized company.
Additionally, we don’t apply minimums. We’re ready to help regardless of how many accounts you have or what they’re worth, so don’t be intimidated. Also, we don’t ask for payments upfront and only take our fair percentage after the debt has been recovered.
Don’t hesitate to use our services if you’re owed payments because debt becomes more difficult to recover with each passing week. Get in touch with Summit A*R today, and let us help you convert those unpaid invoices into money you can use.