Many small businesses turn to a professional collections agency to help them gain compensation for unpaid services from their clients. However, not all commercial collections agencies are created equal and very few firms provide the same services available through Accounts Retrievable System. Review some of these frequently asked questions to see what sets Accounts Retrievable System apart.
What Types of Accounts Can Be Collected On?
Accounts Retrievable System helps clients collect a number of accounts, including commercial accounts, consumer accounts, retail accounts, unpaid child support, spousal maintenance, and Judgments. ARS also collects accounts related to auto loans, personal loans, student loans, and landlord/tenant issues. Accounts Retrievable System also provides professional collections services for out of state and international claims. The people at ARS are experts on debt collections and judgements.
What Is the Minimum Claim?
Another question commonly posed is whether or not there is a minimum amount of debt that ARS will collect on. Generally speaking, the minimum amount for claims accepted is 1,500 dollars. Unlike other commercial debt collections agencies, ARS does not require any up-front payments and will only charge for services upon the successful collection of accounts.
How Long Should I Wait Before Contacting a Collections Agency?
Many companies question how long they should wait before sending an account for debt collections with Accounts Retrievable System. While there are no set parameters, most accounts are sent to collections within 90 to 150 days of the last payment or invoice, as the longer you wait the more difficult it may be to collect those receivables.
What Resources Can You Draw On?
ARS works with a national network of more than 420 collections attorneys who will begin the litigation process if traditional collection tactics do not yield sufficient results.
3 Tips for Improving Your Debt Collections Process
Accounts Retrievable Judgement Collections
In today’s economy, businesses can rarely afford to spend time resolving disputes and collecting debts. However, it is critical that you receive payment for the services that you provide. Here are 3 tips for improving your debt collections process.
• Investigate Your Customer
Before offering your services to a client, it is a good idea to do some basic investigation. Conducting research about your potential customer’s finances can help prevent further complications such as debt collections. If you are contracting with another business, find out whom they serve. If their clients seem reputable, then this is a good sign that the company will be a reliable. While it may seem counterintuitive to turn down potential clients, taking on financially unstable customers can end up doing more harm than good to your business such as the hassle of debt collections.
• Understand Your Customer’s Reputation
Once you have decided to take on a customer, try to find out as much as you can about the client’s reputation. In particular, see if you can discern how they generally go about paying for services. You can find this information from other businesses that have taken them on as clients. By doing some research, you can prevent confusion or disputes later one.
• Communicate with Your Customer
Constant communication is the key to improving your debt collections process. By establishing a relationship with your customer, you can ensure that both parties are fully informed throughout the process. You will understand your customer’s needs and limitations, and they will understand your expectations when it comes to payment. Once you have provided the service in question, you will be able to approach the customer honestly and in good faith to collect your payment. Regular communication can help establish a payment schedule that fits the needs of both your business and your client.
If you would like to know more about how you can improve your debt collections process:
The Power of Critical Listening in Debt Collections
Account Retrievable Debt Collection Services
Communication is the key to resolving debt collections issues in an amicable and efficient manner.
In this podcast you will hear about the power of critical listening in debt collections. The goal of listening, for example, is to develop a rapport with an account holder. For example, engaging in an honest conversation with an account holder can help the collections agencies decide whether there is enough information to file a claim. Furthermore, patient listening helps build trust between the collections agency and the account holder.
In order to avoid being taken in by slick presentations, unsound reasoning and subtle falsehood, it is important to acquire an understanding of the persuasion techniques commonly employed. Listed below are certain methods that have been (and are) used by speakers to convince, and often mislead, individuals and groups. Unfortunately, modern listeners seldom have any educational background in logical criticism or oratorical techniques, and are all too often vulnerable to and unaware of the traps being laid for them. Though this article focuses on developing listening skills, the same critical processes which can be used to analyze the validity of spoken material may also be employed in reading or self examination.
As a listener, it is important to think and apply the same good sense you use in everyday survival to every area of your life. It is tragic that so many choose to set aside their reasoning skills in large, important areas of life and, instead, settle for being manipulated—for uncritically adopting someone else’s pre-packaged viewpoints. It may be easy, comfortable and pleasant to allow others to do your thinking, but it is neither wise nor commendable. Since this is neither a book on logic nor a public speaking primer, the main focus will be on flaws, both on the speaker’s part and in the way audiences behave.
Sociologists have conclusively shown in study after study, that people tend to be influenced more by how something is said, than what is actually said. We tend to respond emotionally, instead of logically, particularly when in a group listening situation where there is neither debate, nor opportunity to question.
If you have any further questions about the power of critical listening in debt collections…
