June XX, 2011 Media Contact: FOR IMMEDIATE RELEASE David Greenwood, 978-568-1374
Collection Agency Offers Advice to Recover Overdue Fees During the Summer Months
American
Profit Recovery Advises Schools and Educators with Tips to Secure Past Due Fees
Marlborough,
Mass – Many schools across the country have dismissed
classes for the summer leaving teachers and administrators regrouping and
reviewing internal procedures while the students are away. The summer months
are an optimum time for schools to evaluate their accounts receivables processes
and develop a plan for more effective collection processes for the upcoming
school year. American Profit Recovery, a collection agency
based in Michigan, Massachusetts and North Carolina, has worked with many
different educational organizations to diplomatically resolve tuition and other
fees.
This collection agency has worked with a whole host
of educational institutions such as colleges, private schools, karate schools
and others to not only develop stronger internal procedures but provide the
support of a third-party collection agency with a diplomatic touch. American
Profit Recovery advises the following:
1. Develop
a Plan: While a thoughtful written plan can
dramatically bolster a school’s bottom line; it can also improve handling of
future overdue accounts. Decide when to get more assertive in collecting unpaid
fees and stick to that timeline and courses of action in your plan.
2. Provide
Upfront Information on Billing: Educate parents and
students regarding billing practices at your school with ample written
materials along with a clear explanation on places such as your website. A
straight forward description of due dates for tuition and other educational expenses
helps minimize confusion and misunderstanding with billing matters.
3. Act
Quickly and Use Tact:
Starting the collection process on those with overdue accounts as soon as
30-days past due, can help quickly retrieve monies owed. Use a combination of
written invoices and letters and if resources warrant, pick up the phone to
find out why fees have not been paid. Always be cordial in the tone you use.
4. Utilize
a Third Party on Overdue Accounts: Tap into the knowledge
and experience of a third party collection agency to settle current overdue
accounts. Reputable collection agencies will also aide your school in devising
a strategy for improved internal collection efforts and keep students and
parents in a good relationship with your institution. A video on the value of a
third-party collection agency can be found here.
A few simple adjustments internally as well as collaborating
with a collection agency that knows the education business can greatly improve
a school’s bottom line and alleviate stress from overstretched staff. More tips
can be found here; http://www.americanprofit.net/blog/2011/07/school%e2%80%99s-out-time-to-evaluate/
About
American Profit Recovery:
American
Profit Recovery (APR) is a collection
agency with offices in Massachusetts, Michigan and North Carolina. Founded
in 2004, APR specializes in the collection of third-party debt in industries
such as medical/dental, banking, trades, lawn care and other professional
services. With early intervention and a strong focus on ethics and diplomacy
with
consumers, APR works hard to preserve the relationship between client and
consumer with an ultimate goal of keeping the business relationship intact. The
firm serves approximately 3,500 clients nationwide. American Profit Recovery
and their team have earned many awards including Best Places to Work in
Collections and Most Influential People in the Collection Industry.
800-711-0023 http://www.americanprofit.net/
Contact:
33 Boston Post Road W., Suite 140
Marlborough, MA 01752
Phone: (248) 948-0601
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