Debt Collection
Debt Collectors
The debt collection process at our agency is distinctive, leading to an 85% success rate. Since we only earn a fee upon successful collection, we have dedicated ourselves to refining our collection process, analysis, and techniques to optimize recovery for each viable claim. Our debt collectors boast over 10 years of experience in collections and business, with some holding advanced degrees. Specializing solely in commercial collections allows us to effectively execute our unique process at highly competitive contingency rates.
There is a big difference in our approach vs. the standard collection agency
| Commercial Collection Agency | Standard Agency |
|---|---|
| Review information from client | No-thought data entry |
| Research debtor | Automated letter campaign |
| Analyze & Develop Plan | Predictive dialer makes calls |
| Call plus mail, fax & email | $12 hour collectors |
| Get debtor talking | Read script |
| Listen, probe, understand | Threaten |
| Negotiate to Success | Intimidate |
| Collect & Remit | Collect ‘easy money’ only |
| 2nd effort under in house law firm name | Drop difficult cases |
| A+ Rating with BBB | Complaints to FTC |
Debt Collection Process
Our debt collection process begins with verifying the contact details provided by our clients and gathering additional information about the business for our debt collectors to use. Within one business day of receiving a claim, we send a short demand letter to the debtor via email, fax, and mail. However, our primary communication method is through phone calls, supplemented by email as needed. By engaging with debtors over the phone, we can uncover the underlying reasons for unpaid bills through a series of targeted questions. Understanding these reasons is crucial as it informs the approach our debt collectors will take. Simply demanding payment often proves ineffective. Instead, we delve into the debtor’s business, current prospects, financial position, secured debts, personal guarantees, and more. Armed with this information and a clear understanding of why payment hasn’t been made, we develop a strategy to maximize recovery as swiftly as possible.
Throughout the debt collection process, we often make numerous phone calls. Despite challenges posed by caller ID, automated phone systems, voicemail, and call screeners, we persistently pursue debtors. In some cases, we make multiple calls daily, spanning from early morning to late evening, in our efforts to reach a live person. Unlike some agencies, we do not utilize computerized predictive dialers, nor do we leave a message every time we call. Instead, our debt collectors rely on their expertise, intuition, and the account’s specific collection history to determine the timing, frequency, and location of calls. We are permitted to contact debtors on their cell phones and at their residences, which may require research to obtain relevant phone numbers, including reaching out to relatives, neighbors, and nearby businesses. While we maintain discretion when speaking to individuals outside of the debtor’s business, our persistent pursuit often sends a clear message that we are actively seeking resolution. This proactive approach often places debts owed to clients of The Commercial Collection Agency at the forefront of debtors’ priorities.
