Accounts Retrievable Systems – How A Collection Agency Can Help You
A collection agency is a business that pursues payments of debts owed by individuals or businesses. Most collection agencies operate as agents of creditors and collect debts for a fee or percentage of the total amount owed.
There are many types of collection agencies. First-party agencies are oftentimes subsidiaries of the original company the debt is owed to. Third-party agencies are separate companies contracted by a company to collect debts on their behalf for a fee. Debt buyers purchase the debt at a percentage of its value, then attempt to collect it. Each country has its own rules and regulations regarding them.
A collection agency is a third-party agency, called such because such agencies were not a party to the original contract. The creditor assigns accounts directly to such an agency on a contingency-fee basis, which usually initially costs nothing to the creditor or merchant, except for the cost of communications. This however is dependent on the individual service level agreement (SLA) that exists between the creditor and the collection agency. The agency takes a percentage of debts successfully collected; sometimes known in the industry as the “Pot Fee” or potential fee upon successful collection.
This does not necessarily have to be upon collection of the full balance; very often this fee must be paid by the creditor if they cancel collection efforts before the debt is collected. The collection agency makes money only if money is collected from the debtor (often known as a “No Collection – No Fee” basis). Depending on the type of debt, the age of the account and how many attempts have already been made to collect on it, the fee could range from 10% to 50% (though more typically the fee is 25% to 40%).
In family law and public policy, child support (or child maintenance) is an ongoing, periodic payment made by a parent for the financial benefit of a child following the end of a marriage or other relationship. Child maintenance is paid directly or indirectly by an obligor to an obligee for the care and support of children of a relationship that has been terminated, or in some cases never existed. Often the obligor is a non-custodial parent. The obligee is typically a custodial parent, a caregiver, a guardian, or the state.
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Accounts Retrievable Systems – What A Collection Agency Does
If you’ve never worked with a collection agency before, we can help simplify the process for you. Accounts Retrievable System is a very easy to work with collection agency with over thirty years of experience in the collection industry. We specialize in many areas of collection ranging from Judgment collections to Alimony and unpaid Child Support. Here we have provided many common questions that we are asked from clients with simple answers to get you more familiar with what a collection agency does and how it works.
Question: What is the minimum debt that you will collect on?
Answer: The minimum amount for claims that we will accept is $1,500.
Question: What types of accounts do you collect on?
Answer: Our collection agency accepts claims for Judgments, commercial and consumer accounts, unpaid child support, spousal maintenance (alimony), landlord/tenant matters, personal loans, auto loans and student loans.
Question: Does your collection agency collect on international accounts?
Answer: Yes. Accounts Retrievable is your global resource for all international accounts.
Answer: There are no fees that you have to pay upfront. All of our fees are contingent upon the successful collection of your accounts that you place with us. We do not collect any money from you unless we collect and recover the money that is owed to you.
Question: Do you require a contract?
Answer: Our agency does NOT require a contract.
Question: What information is required to start the collection process on my account?
Answer: We need the name, address, telephone number, contact name, fax number and a statement that showed the outstanding balance and any invoice information. If you are placing a Judgment account with us we will need a copy of the Judgment or Transcript. Any additional backup documentation (invoice copies, contracts, etc.) can be provided at a later date if you do not have them at the time of placement.
Question: How do I place my account for collection with you?
Answer: It is very simple to place accounts with us. Whether you have one account or one thousand, it is an easy process. You can place accounts through our website, email or by fax. If you require assistance in establishing and automated process, we can provide technical expertise to help extract and transmit your date securely.
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Accounts Retrievable Systems – Hiring A Collection Agency
Being a business owner is stressful enough, now add in a whole bunch of past due accounts, this will cause a great deal of stress that you don’t need. If you are having trouble collecting money that is owed to you, it is time to hire a collection agency. Since 1986, Accounts Retrievable has delivered highly effective results for clients worldwide. We specialize in collecting on a variety of different accounts ranging from Judgment Collections to Unpaid Child Support. With out partnership approach and our rapid collection, we remain a leader in the collection industry. We also pride ourselves in our ability to preserve relationships between businesses and their clients.
Accounts Retrievable continues to remain a leader in the collection industry. Our collection agency is comprised of a strong, cohesive and committed team. What makes us a leader in the industry is our tactics and techniques to collect on past due accounts. We use a wide range of tools and resources to achieve the best results possible with our clients. All of the staff at our collection agency has access to the latest software programs and a state-of-the-art secured network with a full disaster recovery program.
What makes our collection agency different is that we focus on the specific needs of each client. We will work with our clients needs whether it is for one claim or for thousands. We will never close an account until each and every collection option has been exhausted. We can not guarantee that we will collect on every account you submit to us, but we guarantee that we will put in every effort to collect and recover the money that is owed to you.
Accounts Retrievable Systems – How A Collection Agency Can Help You
Our Mission is to deliver high quality, effective and innovative solutions to our customers while trying to be an industry leader through superior client service, dignified account management and innovative technology integration. We will provide customer service second to none. ARS is committed to maintaining this leadership through constant investment in our people and technology and the ever changing development of collections solutions. Our mission is also to provide our employees meaningful work in a healthy, exciting and productive environment. It is our mission to encourage openness, innovation, and growth for all employees.
Accounts Retrievable has been in existence since 1986 and has been providing many industries and businesses with top notch debt collection services. ARS is an international collection agency providing professional, highly effective results for clients all over the world. If you are looking for help with judgment collections, commercial or recovery collections or child support, ARS can help you. We have over three decades of experience of collecting on accounts both international and domestic. Clients of ours benefit from an array of collection solutions that are designed to increase cash flow, reduce expenses, improve operation efficiency and of course maintain positive customer relations.
We pride in our ability to deliver professional, effective and timely results worldwide. We continue to strive to remain a leader in the collections industry. If you need help with collections, it is important to choose a collection agency with a consistent track record with successful outcomes. Our collection agency and all staff are kept current on all laws and statutes and continue with ongoing eduction to stay current. This is important in keeping positive customer relations. You want a collection agency that is going to treat your clients with respect and dignity. Accounts Retrievable is comprised of a strong, cohesive and committed team that works to recover money owed to you.
Accounts Retrievable Systems – Collection Agency Will Collect
Owning a business is stressful enough and then add past due invoices to the mix, that is a recipe for stress. Hiring a collection agency helps alleviate stress of collecting on past due accounts. When you have an account that you’ve previously tried to collect on and have had no success, you are wasting time and money. When you hire a collection agency the chances of you recovering your money are greatly increased. The professionals at a collection agency know debt collection tactics that work for different industries and different situations. Of course there is no guarantee that we can always collect the money owed to you but it is always worth a shot to place an account with us.
We’ve been asked time and time again what is the success rate of our collections on accounts. There is no set answer as the success of collection largely on the age of the debt and time of placement as well as the industry. There is no guarantee that we will always collect on your accounts that you place with us, but we do guarantee that each and every accounts placed with us is worked throughly. The variables that come with each account placed is what affects the success of collection. Found in every claim, the variables are the time past due, backup documents, singed credit applications, personal guarantees and previous collection efforts. We have had clients for whom we’ve collected 70% of the accounts they place with us, but also represent industries within these same industries where the recovery rate is far less.
Early placement of an account is far more important than you might think. The earlier you place an account with us, the greater the chances of recovery. Although we are a well established and reputable collection agency, not all accounts can always be collected on. We have collected on “dead accounts” in the past, but it is always important to place an account with us as soon as possible. The longer your customer delays in paying you, the lower the chances of recovery.
While being owning a business you may come across a time or two when you are owed money that is very hard to collect. You may have to hire a collection agency to recovery on the money owed to you. Debt collection is not as easy as you might think and hiring professionals to work for you can ease the stress of collecting.
Q: Is there a minimum debt that you will collect on?
A: The minimum amount of debt we will collect on and accept claims for is $1,500
Q: What types of accounts will you collect on?
A: We are experts in debt collection and will collect on different accounts such as judgments, commercial accounts, consumer accounts, spousal maintenance (alimony), unpaid child support, landlord matters, personal loans, student loans and auto loans.
Q: Do you collect on international accounts?
A: Yes. Accounts Retrievable Systems is your global resource for all international debt collections.
Q: How do I go about placing my account for collection?
A: Placing an account for collection is very simple with Accounts Retrievable System. Whether it is one account or a large volume or accounts it is simple. Our system is so simple that you can place your accounts through our website, e-mail or by fax. The account placement process is completely customizable, we want to make it easiest for you.
Q: When should I place an account for collection?
A: There is no set answer. A good guideline would be place an account for collections around 90 to 150 days after he date of the invoice or the last payment. Debt collection can be difficult without the help of professionals. Different circumstances call for placing an account earlier than 150 days. If there is a loss of contact, broken promises or lack of response you should consider placing your account earlier. The sooner you place an account with collection, the better chance for the recovery of your account.
Accounts Retrievable Systems – Having Trouble With Debt Collection?
As a business owner you may already be familiar with hiring a collection agency, but if you are not, we can help you decide when the right time is. Creditors will often ask when they should place an account with a collection agency, and although there is not one definite answer but there are general rules of thumb to help you out. Generally we would say if an account is 90 days past due which would be 120 days past the invoice date, you should initiate a placement with a collection agency. This would be so if there is no response received from the customer.
If an invoice is 90 days past due, you probably have sent out several statements and collection letters and even made collection calls to your client. If you have tried bringing the delinquency of the account to your customer but they have showed a lack of response it either indicates a lack of concern or cash flow problem. In any case, one thing is certain, a collection problem exists. Your best chance at collecting and recovering on a past due account is to place your account with a collection agency.
The sooner you place your account with a collection agency, the better the chances that the account with be collected on. It may be time to hire a collection agency if the customer has broken two or more promises of payment. If you have been promised payment but have not received any checks it may be time to contact a collection agency. Also if you try contacting your client and their telephone has been disconnected, double check with an information operator and if not new listing can be found you should immediately place your account with a collection agency.
Accounts Retrievable – Hiring The Right Collection Agency For You
The Accounts Retrievable System, Inc is a national collection agency serving the collection needs of respected clients. Its client base includes wholesalers, retailers, credit unions, manufacturers, law firms, banks, universities, and mail order companies. The company receives claims from creditors all over the United States against debtors throughout the country. The skilled professionals at our collection agency are experienced in all aspects of debt recovery.
Since 1986, ARS collection agency has delivered professional, highly effective results for clients on a worldwide basis. ARS is recognized as a leader in Judgment Collections, Commercial Collections, Consumer Recovery, and is a specialist in collection of Child Support and Spousal Maintenance. Our partnership approach, rapid collection and ability to preserve relationships form the cornerstone of our commitment to excellence.
With three decades of experience both domestically and internationally, ARS serves a broad spectrum of industries.
ARS clients benefit from an array of collection solutions designed to increase cash flow, reduce expenses, improve operational efficiency and maintain positive customer relations. We are proud of our ability to deliver professional, effective and timely results worldwide.
ARS strives to remain a leader in the industry. ARS is comprised of a strong, cohesive and committed team. Our consistent track record for successful outcomes stems from a forward-thinking corporate mix where personal and professional aspirations thrive and progressive ideas flourish. Our team is kept current on all laws and statutes, FDCPA and FCRA compliance through ongoing education, and by attending seminars and meetings throughout our affiliations with the Commercial Law League of America (CLLA), the American Collectors Association (ACA), and DBA International (DBA).
Accounts Retrievable Systems – Hiring A Collection Agency
If you need the professional help of a collection agency, it is important to do research first. Not every collection agency is the same or will provide effective results. Accounts Retrievable System has delivered highly effective results since 1986 for clients worldwide. They recognized as a leader in Judgment Collections, Consumer Recovery, Commercial Collections and specializes in the collection of Child Support and Spousal Maintenance (Alimony). With their partnership approach, rapid collection and the ability to preserve relationships between clients and businesses forms the cornerstone of their commitment to excellence.
With over three decades of experience with both international and domestic accounts, Accounts Retrievable collection agency serves a broad spectrum of industries. Clients of ARS benefit from an array of collection solutions that are designed to increase cash flow, reduce expenses and improve operational efficiency and to maintain positive relationships with customers. It is important to find a collection agency that is proud of their ability to deliver professional, effective and timely results worldwide. It is important to find an agency that takes pride in what they do.
Not all collection agencies are alike, AS is comprised of a strong, cohesive and committed team that puts in every effort to collect on the money owed to you. They have a consistent track record for successful outcomes which stems from a forward-thinking corporate mix where professional and personal aspirations thrive and progressive ideas flourish. One of the most important factors in hiring a collection agency is making sure that they are kept current on all laws and statutes in regards to debt collection. There are specific laws and regulations that need to be followed when collecting debts and Accounts Retrievable System follows them all.
Accounts Retrievable Systems – Debt Collection Services
It is never good for a business or client to have an invoice past due. It can be embarrassing and frustrating for the client when they are going through financial issues, as it can be frustrating for the business owner when trying to collect money owed. If you are a business owner and are trying to recover money owed to you, try using a collection agency, there is no risk.
A collection agency is an organization that you hire to help collect on past due accounts. The longer you wait to place an account with a collection agency the smaller the chance of your account being collected on. Of course we put in every effort to collect on your past due invoices, but there are no guarantees that we can always collect on your past due account. The sooner you hire a collection agency, the greater the chances you will get the money that is owed to you. When you hire a collection agency it saves you a lot of frustration with writing collection letters and making phone calls.
There is a fee that all collection agencies charge upon collection, and every agency has a different rate. The average rate is fifteen to twenty percent of each account collected. The advantage of hiring a collection agency is that when you think your account can not be collected on, there is no risk placing it with an agency. If a collection agency does not collect on your account then they do not collect a fee. When you hire a collection agency it is important to check the agencies credibility.
It is important to hire a collection agency that follows all debt collection laws and regulations. Collection agencies are allowed to reach the debtor by fax, phone and mail but not in a threatening manner. There are also regulations on what time and how you can contact debtors. When calling a collection agency representative has to identify themselves and be direct about the purpose of their calls.
