Credit Bureau of North America recognizes the importance of maintaining
a consistent “Cash Flow” that can only be produced from the
professional management of your receivables. We all are aware that cash
flow is the “Life Blood” of any business; therefore, we incorporate
into our direct objectives the importance of the collection in full of
each account placed at the earliest possible time.
- All Accounts placed for collection will be acknowledged upon receipt and set up for immediate collection in our fully automated collection system. Collection action is initiated within 48 hours from the time of placement.
- Each account will receive an initial written demand which includes a validation clause (as required by federal law) in order to bring to the surface any disputes, and thereby allowing our collection staff to resolve them and continue collection efforts as required.
- Accounts will be worked on a timely and equal basis to insure maximum recovery regardless of the balance, with a normal follow-up of five to fourteen days depending on the debtor’s response.
- Obviously, the follow-up depends on whether the debtor makes a promise, keeps a promise or breaks a promise. Our collectors are trained to handle every account on an individual basis up to and including the recommendation of initiation of legal action with your written permission.
- Our computer system also has a built-in fail-safe program that will not allow any account to be inactive for more than 15 days at which time it is automatically forwarded to a manager for review. This again insures our clients each account, regardless of balance, is equally and diligently worked.
- Every account will be worked diligently and professionally until the account is either collected in full, deemed uncollectible, or suit is filed.
- Let me state that our philosophy on legal action differs greatly from most of our competitors. We do not believe it to be in the best interest of our clients to take legal action unless it is felt very strongly that such action will ultimately result in the collection of an account.
- We are a national credit-reporting agency linked to all major credit bureaus. With your approval, accounts that are not responding to our normal collection efforts are reported to the bureaus as having an outstanding collection account. This enables us to monitor the account in order to obtain new information.
- Unlike many of our competitors we also take a different view on accounts that file for bankruptcy. We do not close an account as soon as a bankruptcy notice is received. We will file the appropriate claims, and monitor the account until a discharge notice has been received from the bankruptcy court, payments from the trustee are received or a dismissal is given, at which time collection efforts are resumed. How you want your bankruptcy accounts handled can be decided at the time that you choose to use our service.
- The management of Credit Bureau of North America recognizes that a realistic “fair but firm” approach to collection is the most effective technique in today’s economy. We are never forgetful in the fact that our task is to provide the motivation to pay our client’s account and to show to the debtor the ability to pay the account exists within their budget.
The following information is provided for you so we may be able to collect your accounts promptly and efficiently.
- Please use the provided turnover sheets whenever possible
-
Please print all necessary information making sure it is accurate, and
legible. This takes the “guessing” out for our data entry and means
quicker collection for you.
-
Date of Last Charge is a vital piece of information. Without this date, the debt will NOT report on the debtors credit report.
-
Status Reports will be mailed by request ONLY.
-
If you are a Pre-Collection Client there must be a signed agreement on
file meeting the specific guidelines. If the criteria is not met,
your accounts will be entered in as REGULAR collection accounts.
(Please call your Client Services Representative if you are unsure of
your Pre-Collection status)
- Please
include your client number on all forms mailed or faxed to us.
If you are not using turnover sheets, please make sure you give us the
following on a cover page with the accounts: Client Name, Client
Address, Client Telephone Number, Client Number, Person who authorized
accounts for turnover and their title. (This gives us accurate
information plus a contact person in your office if needed).
- If services were rendered for a minor, please indicate this on the
statements, turnover sheets or cover page. We cannot use the
Social Security numbers of minors in our system. We must have
information on the person responsible for the account.
- If the debtor has signed any financial policies from your office, please enclose a copy when the accounts are turned over to us.
- REMEMBER… Our Client Services Department is here to meet your needs. Please feel free to call on us at any time.
Click here to download Turnover Sheet. Once the word document is downloaded, you can print it, fill it out and fax to us.
|
