Debt Recovery

Every year millions of Americans utilize a variety of rehabilitation therapy services. Rehab centers and physiotherapists are vital in keeping our citizens healthy and self-reliant.

Unfortunately, billing is a complicated affair for Rehab centers because there is no uniform standard for how much private insurance will cover. The coverage is vastly different if a patient has a government-sponsored plan such as Medicare or Medicaid.

Moreover, the insurance coverage also varies from state to state, which determines deductibles, co-insurance, co-payments and other payments not covered by the patient’s insurance provider. Then there is a variation in the contractual agreements between various Rehab centers and insurance companies.

Rehab centers and physiotherapists expect payment right after the rendering of services or within 30 days of the billing date.

Need a Collection Agency for Rehab Centers and Physiotherapists: Contact Us

Even though rehab centers explain the billing process to their patients very clearly by providing a breakdown of what is covered by their insurance and what would be there out-of-pocket costs, many patients still cannot pay bills on time. The internal staff of the rehab centers is responsible for making reminder calls and sending repeat invoices by mail. Once a debt is 90 days past due, the efforts of in-house billing departments appear of no use.

The involvement of a professional debt collection agency is a game-changer. Patients are more likely to pay when a collection agency demands the payment versus when a rehab center tries to collect money by itself.

A debt collection agency assists rehab centers by making patients fulfill their obligations by establishing repayment plans, offering various payment options and explaining the consequences of not paying. They send recovery notices to the patient or the guarantor. Recovery efforts include collection calls and litigation if bills are still not cleared despite all the efforts.

Collection Letters Service

The upfront cost for 5 Collection Letters is about $15 per account. Debtors pay directly to you, no other fees. Low cost option. Good for accounts less than 120 days past due.

Collection Calls Service

Contingency fee only. No upfront or other fees. Agency gets paid a portion of money they recover.  No recovery-No fees. Best for accounts over 120 days. A debt collector calls debtor many times. If everything fails, a possible Legal Suit if recommended by the attorney.

The multi-step approach by collection agencies maximizes the chances of recovering money. Collections are performed diplomatically to preserve the relationship between the rehab center and the patient.

Check here: Cost of hiring a collections agency

Physiotherapy, psychiatry, de-addiction, sports & wellness, detoxification and rehabilitation centers must utilize the debt recovery services of a collection agency to recover money from clients who have not paid. They should avoid writing off that debt. Accounts receivable can restrict the cash flow and profitability of these wellness centers.

Contact us for your debt collection needs.

Massage parlors intend to de-stress clients with a gentle touch, but many customers leave behind huge stress in return for these parlors by not paying for the services they just received. Accounts receivable is an ongoing problem for these businesses, and there is very little they can do themself to recover the unpaid bills.

Accounts receivable may also result from a dispute regarding services received, damages, non-payment of recurring charges, bounced checks due to non-sufficient funds, or reversal/dispute of a credit card payment.

Owners of Spas, Salons and Massage parlors have to deal with all the complications of running a small business. The expenses of operating these centers are quite high. Non-payment for the services rendered by just a few customers can induce severe cash flow issues for these businesses.

The internal staff of a massage parlor is not skilled enough to collect money from those tough customers. If you keep proof of the services provided to your customers, then a debt collection agency can be your best partner for recovering money from defaulters. Evidence of services provided to a customer is essential because debt collection laws permit debtors to demand written documentation that they really owe money. If the invoice or backup documentation regarding the debt information is not provided after an account is in collections, all collection activity is stopped, furthermore it can result in many other legal complications too.

Contact us for your debt collection needs.

Information such as –  Debtor’s full name, address and phone are a few essential pieces of information that are also required to initiate the collections process. And, of course all services rendered by corporate or private massage parlors must be 100% legal.

Collection Letters Service

Upfront cost for 5 Collection Letters is about $15 per account. Debtors pay directly to you, no other fees. Low cost option. Good for accounts less than 120 days past due.

Collection Calls Service

Contingency fee only. No upfront or other fees. Agency gets paid a portion of money they recover.  No recovery-No fees. Best for accounts over 120 days. A debt collector calls debtor many times. If everything fails, a possible Legal Suit if recommended by the attorney.

 

Check here: Cost of hiring a collections agency

 

Being an avid golfer and working in the collection industry for the last 22 years, it wasn’t long enough that I started to find so many similarities between the two.

1. Practice and Patience

Like Golf, debt collection is an art that requires sufficient time to learn and improve the game. Then there are days when we have excellent collection results and others when nothing seems to be working, precisely similar to the day-to-day fluctuations we experience in golf.

Keep your patience, continue to introspect, and stay focused. Put up a smile, clear your head, and start your next call with a positive attitude.

Do you need a Collection Agency for your Golf Course? Contact Us Golf courses have huge operating expenses. Their accounts receivables may include recovery from contractors (pavers, cart repairers, etc), credit card reversals, unpaid membership fees, damages and more. You must keep a signed contract/receipt/invoice to support the debt.

2. Play Smarter, Not Harder:

Apply too much force in the game of golf, and your shots start to go haywire. A successful debt collector needs to have an acute presence of mind. He should know how to handle the call based on the responses they get from the debtor and somehow make him pay. Smart and straightforward tactics work far better than brute force and anger.

Best collection rates in the industry are achieved with good acumen and the presence of mind, not by simply pushing too hard or blindly sticking to a script that your boss has given you.

3. Never use a Driver for shorter shots.

When your ball is 90-120 yards away from the hole, we use Irons, not the Driver. Suggesting the right product to the client is very important.

Low-cost collection letters are more suitable for debts that are no more than one year old. Collection calls are suitable for accounts over that limit and Legal suit as a last resort. Suggesting the most optimum solution to your client will lower their collection cost,  and make them stick with your agency for a long time.

4. Concentration:

Before starting a collections call, remove your mind from those daily “Breaking News”, forget about your social media conversations, and put the phone aside. Everything that can potentially distract you during your conversation with the debtor.  Exactly what my golf trainer says … Stay focused – razor sharp.

5. Control of Emotions

Debtors deal with crappy calls all day long. It is crucial to control your emotions, most importantly your anger. Just like in golf, the game is all but over once you are agitated.

6. Short Game is more important:

Every collection call need not be a 10+ minute conversation, probably only in those cases where the outstanding debt is too high. Time is money for debt collectors. It is important to remember that you are not working to hear long stories of your debtors but to collect debt in optimum time.

The idea is to reach the target in a minimum number of shots. Similarly, in Debt Collections, the idea is to recover maximum money with the minimum number of contacts.

7. Buy a good golf set: Not the cheapest one, not the costliest one

You can buy a bargain golf set for as low as $200. But most of us know they are not too good. They will likely spoil your game. There is a reason most people buy branded golf sets like TaylorMade, Callaway, Titleist, Ping etc. These golf sets have the appropriate design, metal and technology to get the best shots. A golfer does not need to break the bank, but a decent branded set will come between $500 to $1000.  This will improve your game and accuracy and last you for many years.

Similarly, never go for a collection agency just because it has the lowest fees. Good collection agencies invest a lot of quality manpower, technology, and services to provide maximum returns. So even if you have to pay 10%-15% extra for a better collection agency, go for it. Higher returns will make that little extra investment/fee look minuscule.

If you are looking for a good collection agency: Contact Us

 

Sending fixed-fee “written demands” through a debt collection agency is the cheapest and most effective way to recover money from debtors when your unpaid bill is no more than 180 days past due. They cost merely $15 an account, and debtors pay directly to you.

Providing Flat-Fee Services Nationwide Need a Debt Collection Agency? Contact Us

Written demands of a collection agency have the perfect blend of intensity and diplomatic verbiage.  For accounts older than 180 days, the contingency-fee-based Collection Calls service is better suited.

What makes the Written Demands so effective:

1. They firmly communicate to debtors that their account has been forwarded to a professional 3rd party for debt recovery. The situation has become a lot more serious. This is an eye-opener for the debtor, and he will be more likely to pay off the debt if he can.

Many customers have multiple creditors and stop picking up their phones altogether. The only way to contact them is by sending Collection Demands.

2. Collection agencies can report accounts to Credit Bureaus, creating multiple financial problems for the debtor. This alone is a big pressurizing factor for them to make a payment.

3. Debtors rightfully understand that this is just the beginning of the collections process. They will be contacted repeatedly through written demands and eventually by a debt collector. Even a legal suit may be filed eventually.

What makes the image of collection agencies so horrific? A collection agency will take every step that the law permits them to recover the debt. A standard creditor is not even aware of all the steps that can be made to recover the debt. In fact, they do not even have the resources or a process in place to perform a systematic collection activity. Sometimes newbie debt collectors who are not entirely unaware of FDCPA laws make the mistake of engaging in unethical and threatening ways of debt collection. Unethical and aggressive collection tactics are entirely unlawful. But this has created a nasty perception ( a monstrous image) of Collection Agencies among most people. However, this horrific perception of agencies sometimes complements the collection efforts of even those agencies which perform collection in an ethical, diplomatic and empathetic way. Creditors should always hire an experienced collection agency with competitive rates. Agencies offering cheap fees usually employ inexperienced collectors who may potentially land themselves and their clients in trouble.

4. Debtors often relocate to a new address and try to become untraceable, thinking this will protect them from all the debt recovery contacts. Since collection agencies perform “Change of address” scrub from various sources, they can generally send the collection letter to the debtor’s new address. Debtors are quite surprised when they receive demands on their new address and gradually start accepting that there is no point in running away from their payment obligations.

5. Collection demands are extremely cost-effective. Can you imagine sending five collection demands for less than $15. Wait, but it is not just the printing, mailing, and infrastructure costs. Collection Agencies perform various scrubs on every account to get more information about the debtor (like Change of address, Bankruptcy check, Litigious debtor check etc.). Their collection demands are handcrafted and approved by expert attorneys. Each letter has different verbiage for maximum impact. These written demands contain a host of legal verbiage, good enough to make any average person very concerned, thereby elevating the intention to settle the debt.

6. They can send collection demands in both English and Spanish. Regardless of the language, both versions have a high impact.

7. These diplomatically worded Collection Demands are the best way to collect money without damaging customer relationships.

8. Say, even if merely 25% of debtors clear their bills during the Collection Demands service, you would have received returns that are probably over ten times than you had invested in buying collection letter accounts. If accounts are submitted without delay (say around 90 days), recovery rates can easily exceed over 50% with collection demands service.

If you are looking for a flat-fee collection agency: Contact Us

Have your customers utilized your tax preparation and filing service but failed to pay your consultation fees in full? Unpaid bills or overdue accounts receivable can hurt the profitability of any small business, including tax filers and Enrolled Agents.

A Tax Preparer helps business and individual taxpayers file tax returns that are due quarterly and annually. An Enrolled Agent (EA) is a federally authorized professional representing a taxpayer before the Internal Revenue Service (IRS) for tax issues, including audits, collections, and appeals.

Contact us for your debt collection needs.

Unfortunately, both tax preparer professionals and EA’s face cash flow issues when a customer fails to pay them on time or becomes delinquent. Sending in-house invoices and phone call reminders usually does not work to recover money from such tough customers. Accounts receivable that are over 90 days old should be transferred to a Debt Collection Agency for better results.

Collection Letters Service

The upfront cost for 5 Collection Letters is about $15 per account. Debtors pay directly to you, no other fees. Low-cost option. Good for accounts less than 120 days past due.

Collection Calls Service

Contingency fee only. No upfront or other fees. Agency gets paid a portion of money they recover.  No recovery-No fees. Best for accounts over 120 days. A debt collector calls debtor many times. If everything fails, a possible Legal Suit if recommended by the attorney.

The involvement of a professional debt collection agency puts tremendous pressure on debtors, and they are more likely to pay. It is recommended to utilize the low-cost ( flat fees) collection letters service before assigning accounts for contingency-based collection calls service. A collection agency serves as an extension to your office, recovering money from past due accounts while tax preparers and filing professionals focus on serving customers and acquiring new ones.

Check here: Cost of hiring a collections agency

 

Newspapers and magazines often require sending professional debt collection demands to recover their money due to unpaid subscriptions of customers.

Many customers unreasonably dispute these charges; others relocate but forget to update their new address with the magazine publishers, even though they are enrolled in an annual or auto-renewal plan.

Regardless of the reason, customers must pay for any print media they have subscribed to.

Serving Publishers Nationwide Need a Collection Agency for subscription bills? Contact Us

Past-due accounts of media companies generally carry small balances, often less than $50. This is why they generally go for low-cost Written Demands ( or Collection Letters) service. Most companies do not opt to report these past-due accounts to “Credit Reporting” agencies like Transunion, Experian and Equifax.

Collection Letters Service

The upfront cost for 5 Collection Letters is about $10-$15 per account. Debtors pay directly to you, no other fees. Low-cost option. Good for accounts less than 120 days past due.

Collection Calls Service

Contingency fee only. No upfront or other fees. Agency gets paid a portion of the money they recover.  No recovery-No fees. Best for accounts over 120 days. A debt collector calls debtor many times. If everything fails, the attorney can recommend a possible Legal Suit.

Depending on the volume purchased, a set of 5 collection letters cost between $10 and $15 per account. Debt collection agencies also run “Skip Tracing” on each debtor, checking if the debtor has relocated. In that case, they send Collection Letters to his new address. These diplomatically written letters act as a gentle reminder for customers. The verbiage becomes firmer and firmer after every demand notification.

Due to the involvement of a collection agency, most customers tend to pay off these low-balance debts quickly.  Instead of writing off these accounts, most print media companies prefer transferring them to a collections agency.

A significant percentage of customers clearly intend to pay for their subscriptions, just that they never receive the reminder until that collection letter arrives. They are also unsure if the collection agency will report this account to their “credit history“. They generally pay off this amount and continue with the subscription.

Collection agencies recommend transferring an account for collections after it is 60-90 days past due for best results.

Contact us for your Unpaid Magazine Bills debt collection requirements.

Magazine subscription debt collection is a crucial part of the print media industry. The debt may be due to the physical delivery of the magazine to a customer’s home or office and sometimes online subscriptions.

Check here: Cost of hiring a collections agency