Were you contacted by us regarding a debt?

Collection

Why Diplomacy Works in Debt Collections

We are often asked by our new clients about the strategy we will employ to help them get paid and collect the money that is owed to them. Let’s face it, we are not the only collection agency out there so many businesses searching for a company to help with debt collections will want to understand how we might approach their customers differently to create some type of resolution.

The four founders of our company knew one thing was true. Demanding money from consumers with no regard for their situation was never going to produce any worthwhile results. In fact, they knew it would eventually backfire. It can go wrong in several ways. First, it can […]

2020-07-09T13:03:46-04:00June 23rd, 2020|Categories: Advice for Businesses, Collection|Tags: , |

The case for continued communication with consumers

As with any major crisis, some industries get crushed and some do well. Depending on what you consult on, manufacture or supply will somewhat dictate how your industry will weather any crisis. As we have seen with the COVID-19 crisis, many businesses have been designated essential and many have had to shut their doors which has created a crisis of its own for many across the country. For many industries, this has caused damage to their operation that will take a long time to overcome.

Take a lawncare company for example. Many had already been working hard to fire up operations for the season. Conducting spring cleanups and getting yards ready for a long enjoyable season. […]

2020-07-15T10:49:16-04:00May 25th, 2020|Categories: Advice for Businesses, Collection|

Your cash flow is essential right now

By Peggy:

It goes without saying that life has changed dramatically in the past five months.  COVID19 has evolved from “that outbreak overseas” to a health crisis here in U.S.  We’ve seen the progression of social distancing, school closings and state-wide lockdowns.  As a result, businesses have been divided into two basic categories—essential and non-essential.

Essential businesses, like pharmacies & grocery stores, are staying open. Non-essential businesses like lawn & garden services are expected to close until further notice. It’s hard to argue with the logic.  People need to get medications, food and supplies. People don’t need green, manicured lawns. But to say a business is non-essential is misleading.  Businesses supply more than the services they offer. […]

2020-06-18T16:31:23-04:00May 13th, 2020|Categories: Advice for Businesses, Collection|

Tips for making internal debt collection calls

There are some parts of running a business that many of us just don’t like to do. Depending on the size and nature of your business or industry, you and your team will have your hands in many aspects of running the day to day operations. Aside from everything else on your plate, there will be items that come up that require your attention and that fall under the category of mission critical. One of those is collecting on overdue payments to your organization.

While our professional debt collectors do enjoy their jobs, we understand that for many of you, collection calls are not something you like to do. You’d rather be doing other things to […]

2020-02-04T18:22:17-05:00February 4th, 2020|Categories: Advice for Businesses, Collection|

The dangers of waiting too long to collect

We have the opportunity to speak with all kinds of businesses and potential clients when we are out and about. When we represent American Profit Recovery at trade shows and other exhibitions, we are speaking with entrepreneurs and others all day long. We love hearing about how business is going and how they’ve grown their organizations.

Some of these professionals have everything in order with their accounts receivables and have the systems to get paid. And some even have a collection agency they use for difficult accounts. A smart move.

But some we chat with could be doing far better in the area of basic accounting and getting paid for what they do.

Our team recently encountered a […]

2020-04-13T09:54:58-04:00August 1st, 2019|Categories: Advice for Businesses, Collection|

A friendly voice behind every phone

I get to listen to many collection calls as part of our continued pledge to compliance and excellence.  In the old days most company’s customer service calls or incoming calls were always treated with happy, friendly voices trying to help. 

Well, I am happy to say that it is still the old days here as we continue to lead by example to other companies with our Customer Service and Admin teams and more importantly, our collection calls.

I am so proud of how far our industry has come in turning what were once unpleasant, sometimes demanding, and uncompromising collection calls into more of “customer service” calls truly trying to help […]

2020-09-17T10:36:11-04:00October 31st, 2016|Categories: Advice for Businesses, Collection|

Collecting and Customer Service-One In The Same

By Ashley:

Recently, a couple of my teammates and I got to sit with different collectors to see how they work. Now, if you are like me, you would think a collector, who is trying to get a consumer to pay, is going to approach their job very differently than someone who is in customer service, like myself. What my teammates and I learned is that we’d all be wrong.

When my teammates and I discussed our separate experiences when sitting with collectors the general consensus was our collectors use the same approach to collecting that we use in customer service. Our collectors are doing everything they can to help […]

2020-09-27T13:45:11-04:00August 10th, 2016|Categories: Collection|Tags: |

What can you learn at a conference? A lot!

I took time out to attend the Kentucky Bankers Association annual convention at the French Lick Resort in French Lick, IN.  What a great group of people!  There has been some great material covered and it is good to hear the concerns that are going on within the industry.  Here are some brief overviews of what I heard at the event:

The Economy:  Getting better…… nice!  Still not there yet, but the trends are definitely starting to look up and people are starting to buy again.  Houses, cars, etc.

Mergers and acquisitions:  We got a nice overview of the happenings going on and the mergers and acquisitions will continue….. some good, some not so much.  Let’s hope […]

What Type Of Training Do Debt Collectors Go Through?

A question that is frequently asked is “What type of training do collectors go through?”

A reputable collection agency will have a training program that covers a wide range of issues, knowledge and skills that are required and will continually reinforce that training. Below are some of the subjects covered in the training of debt collectors.

Personal Skills
Most reputable agencies hire people who can communicate well and then train them even further. The goal of an agency is to get payments secured for a client, so a collector needs to have superior skills in communicating with others. Debt resolutions come from a respectable dialogue and communication with consumers.

Regular Meetings
A collection agency with a good reputation will also […]

Responsible Debt Collections

The other day, I was reading a collection article about how another collection agency came out with a “Consumers Bill of Rights”. I have to say after reading their Bill of Rights, I wasn’t very impressed. First of all the document was 5 pages and could have been summarized much better.

In short, their consumer bill of rights states what to expect if you deal with that collection agency.:

  • If we buy a debt, we will tell you that we own it.
  • If we will contact you, we will try and resolve the debt quickly and honestly.
  • If we can’t sue you then we will not attempt to collect from you, ei, you’re in bankruptcy.
  • If we collect from […]
2013-09-12T08:40:07-04:00September 12th, 2013|Categories: Collection|