Having been in the debt collection business for over two decades we’ve noticed that the state of debt in the United States is growing worse. Earlier this year, total consumer debt went beyond $4 trillion. And according to a credit card debt study by personal finance site WalletHub, the average American household was $8,284 in debt.

In fact, American credit card debt is the highest its been since the Great Recession. This explains why delinquency rates are rising across the United States. With millions of people months behind on their payments, more debtors are defaulting on their loans.

With costs increasing and bad debt growing, more companies are shutting down. According to Business Insider, retailers have closed over 4000 stores since the beginning of January, and we’re only halfway through the year.

It’s no wonder that businesses are looking to partner with a commercial debt collection agency to help them weather the storm. By recovering revenue many businesses live to fight another day.

Some businesses wisely partner with a company like ours. At Summit A*R we have 28 years of experience in the debt collection industry and boast a recovery rate that’s twice the national average in many cases. Our track record includes the recovery of some very difficult debts

We also understand many important industries. Our services include commercial collections, consumer collections, employee reimbursements, medical collections, dental collections, veterinary collections, commercial tenant collections, wireless chargeback collections and more. Regardless of your type of business, if you have debt collection needs, we can help you.

We’re also easy to work with. We have a friendly, experienced, and trained staff of licensed professionals. And unlike other collection agencies that demand fees upfront and a minimum number of accounts to work with, we work on a contingency basis. Our fees are transparent and only applicable if we recover your revenue. In short, we only get paid when you get paid.

We also offer multiple calculators on our platform to help you gauge the effectiveness of your collection efforts. And when you partner with us, you’ll receive monthly reports for all your accounts. You can also view the status of these accounts at any time online.

Often, we recover debts in a few days. The person responsible for the unpaid debt is notified by phone or email. They usually pay their debts once they realize that we can report them to the three major credit bureaus. However, trickier debts can take longer. When we can’t reach your customer, we use our skip tracing team, which is led by licensed private investigators, to track them down. Our objective is to recover your revenue in 90 days.

Unfortunately, many businesses turn to unscrupulous debt collectors in their desperation. This is because some businesses falsely believe that all debt collectors are ethical.   

There are thousands of debt collection agencies operating in the United States and most are honorable businesses. However, some debt collectors don’t play by the rules. Here are some facts you should know about debt collectors that use shady tactics:     

  • A few debt collectors go into the business having seen too many tough guy dramas. They may threaten customers with bodily harm. Others act like they’re in a Quentin Tarantino film and will swear at your costumer to intimidate them.
  • Some debt collectors manipulate customers with lies. They may claim to be members of law enforcement with arrest warrants in your customer’s name.
  • According to the law, debt collectors can only call customers at reasonable hours, usually between 8 a.m. and 9 p.m. Unfortunately, some deliberately call their targets in the middle of the night to harass them.
  • A few debt collectors will contact family members and employers of customers to shame them into clearing their debts.
  • Some agencies use a computerized automatic dialing system to repeatedly harass people with pre-recorded messages. These robocalls are made regularly to harass debtors. Such unethical agencies will also use robocalls against the friends and families of debtors to send a message.

It’s not only good karma but it’s also sensible to partner with an ethical debt collection agency. Of late, numerous companies have been sued or banned by the Federal Trade Commission (FTC) for violating the law. They’ve collectively lost hundreds of millions of dollars in court.  

There is also the Fair Debt Collection Practices Act, that allows debtors to file lawsuits in the value of up to $1000 against debt collectors that violate the law. Such debtors can also take their complaints directly to the FTC or their state attorney general.

When you’re simply looking to recover your outstanding A/R, you don’t want to associate with a debt collector that can hurt your reputation or land you in legal trouble. Fortunately, you can preserve your company’s reputation by partnering with an ethical debt collection agency like ours.

At Summit A*R we have a “P.H.D. Philosophy” (Preserve Human Dignity). This means that we recover your debt diplomatically by treating your customer with dignity and respect. Our experts handle accounts with sensitivity and compassion, allowing us to recover what you’re owed without alienating your customers.

This is not only moral, but it’s good for your business. Debtors respond better when they’re treated with humanity. Unlike some other debt collectors, we don’t use robocalls, issue threats, or resort to aggressive tactics.

But don’t take our word for it. We’ve had the privilege of serving many successful clients across various industries. And our website features numerous testimonials from several happy customers.

Moreover, our affiliations reflect our high ethical standards in the debt collection industry. This includes organizations like the ACA International and the International Association of Commercial Collectors. We’re proud to say that we’re in good standing with both organizations. They are leaders in the debt collection industry that promote values such as leadership, integrity, respect, responsibility, and education.

Our commitment to excellence is exemplified by our A+ rating from the Better Business Bureau (BBB). This score is only given to businesses that maintain the highest standards.

If you’re a business looking for the services of a debt collection agency, then choose an ethical one like ours. You’ll recover your revenue without undermining your principles or your reputation. And in today’s competitive business climate, reputation is everything.