Collection Procedures

Concord Collection Services, Inc. offers full collection services tailored to the needs of our Clients.  The following is a general outline of the scope of services to be performed in the collection of your accounts receivable. Concord Collection Services, Inc. is prepared to implement a system designed to increase current collections and streamline the flow of delinquent money and information to you.  Services to be rendered would include, but not limited to:

Placement of Claims

Claims can be placed in any of the following ways. Please use your preferred choice:

First...

Accounts received for collection are entered into our database and the client acknowledgement is generated.  At the same time the first demand notice is automatically sent to the debtor giving them 30 days to dispute the claim, the account is forwarded to the collector for telephone contact.  We immediately attempt to establish verbal contact with the debtor with the purpose of securing the balance due to you.

Then...

Telephone calls are made to discuss the delinquent account.  Once debtor is contacted, we negotiate a payment schedule to maximize collection results.  Our first objective is to secure full payment, if possible and appropriate. If a problem exists, we will try to secure an initial payment of at least 50% of the balance due and then arrange for a weekly or monthly payment schedule that is both realistic and mutually acceptable.  Payment schedule is discussed with client before CCS, Inc. agrees to any terms.  Once approved by client, payments are collected on account and will be placed in a trust account.  Payment (minus fees) and account status report will be forwarded to client first of every month.

Telephone calls and demand notices are sent on all accounts, regardless of the amount.

Skip Tracing…

We cannot stress enough the importance of getting good and current information about your account holders. However, the mobility of the debtor population makes skip tracing expertise a critical factor in effectively collecting accounts.  Accounts with no phone numbers or bad addresses are matched against national databases to ascertain good contact information.  Phone numbers, nearby information and national searches are but some of the capabilities we employ in tracking a debtor that has skipped.

Credit Bureau Reporting…

Accounts that have had no contact in 60 to 90 days or debtor flatly refuses to pay will be reported to Experian Credit Reporting Agency.  Adverse credit information can stay on debtors credit report for a period of seven years from the time the account went to a negative status.

Finally…

In instances where no contact is made verbally, we are continually reviewing the file, and attempting to make contact.  Notices are still being sent out in sequence to at least maintain written contact with the debtor.  If there is no response, or a debtor flatly refuses to pay, we then accumulate all information needed to determine if it is in your best interest to initiate legal action. At this point, all efforts to collect the debt have been exhausted.  We would then recommend placing the account, if it meets criteria, for litigation with our attorneys.

Note…

Not all accounts are collectible.  In fulfilling our entire service to you, accounts determined to be not collectible, are reviewed and discussed with client.  After discussion of the account, it is then closed and returned for your final disposition.