Why Outsource Receivables & Bad Debt to a Collection Agency?

Handling collections in-house is time consuming and arduous in any industry. Research shows that 82% of businesses fail due to cash flow issues, and as we know, the longer a debt goes unpaid the harder it becomes to collect. Below are 6 reasons why hiring a collection agency will benefit your business in the long run.

Secure Confidence in Legal Protection & Proper Documentation

Our extensive knowledge of federal and state collection laws, consumer rights, and process regulations is demonstrated effectively by our team. We’ve implemented an internal Compliance Management System (CMS) to conduct detailed risk assessments for all policies and procedures across the organization. This ensures our adherence to state & federal compliance regulations. If the need arises, our extensive legal network and exemplary documentation practices will assist you to make an informed decision whether proceeding with litigation is worth your company’s time and investment.

Highly Trained Collections Specialists Recover More Debt, Faster

Fast and efficient recovery techniques are crucial to increasing your company revenue. Consumers pay us faster and more frequently because of our highly skilled collections team. We’ve created a dedicated 4-week collections training program overseen by our dedicated Quality Assurance (QA) team. Even upon completion each staff member continues with monthly mentoring, productivity reviews, and advanced training exercises. Management monitors and scores phone calls, and each associate receives an individual quality/risk score based on multiple factors including FDCPA & state laws, CPS policy, soft skills, and overall quality. Additionally, our state-of-the-art Virtual Observer Call Recording System records 100% of our inbound and outbound calls, storing them for at minimum of 7 years. By design our internal QA scoring is more stringent than our strategic partners programs in order to drive a best in class customer experience.

Skip Tracing

It’s quite common for collections letters to come back as not deliverable, either due to a debtor moving or providing an incorrect billing address. As calls continue to go unanswered and invoices return to sender, there is little you can do to collect: enter skip tracing. Our state-of-the-art software locates debtors using public record resources such as credit reports, criminal background checks, job and loan applications, court documents, and even utility bills. If these searches turn up nothing, we will continue attempts to collect through any available personal and professional contacts of said debtor.

Receivables Advice & Planning

Our industry leading executive and sales teams offer consultation services to streamline your accounts receivable processes, ensuring more efficient cash flow. If your company has a severe debt problem, we’ll work with you to resolve it or explore options to sell it off as a tax loss. The end goal is to prevent such financial issues from reoccurring the future.

Reclaim Your Time While Increasing Productivity & Revenue

Taking collections off your company plate will decrease operational costs while increasing productivity and overall revenue. Printing, stamping, and mailing endless invoices that go unanswered forces you to make uncomfortable collections calls. These are all strains on your time and resources. Designating these tasks to the experts will allow you to focus on what’s truly important for your business.

Customized Services

Within each industry are unique companies conducting business in a way that leads to their highest growth and success. Such diverse financial needs, legal requirements, and business models require a customized collections program. We will work with you to create a process that will work seamlessly in your daily operations.

Ceteris Portfolio Services has been providing nationwide end-to-end accounts receivable management services for over 30 years. We can customize services to suit your company’s unique needs. Contact us to learn more!

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