Q: WHAT HAPPENS WHEN
PAYMENTS COME DIRECTLY TO MY OFFICE?
ask that you promptly advise us of all payments made to your office
on those accounts you have placed for collection. Any payments received after the placement date, either by the agency or client, will be included and commission charged on our monthly
statement. It is extremely important that the client immediately notify us when they are in receipt of a payment. Failure to do so, can put the
client and agency at risk of violating state and federal laws. Examples of these violations are, failure of the agency to cease collection activity on paid up accounts and actively pursuing incorrect balances.
ABOUT MERCHANDISE RETURNED TO ME?
merchandise has been returned for credit or settlement of a claim,
our fee is 1/2 of our standard rate.
SHOULD I DO IF THE DEBTOR
CONTACTS MY OFFICE?
should advise the debtor to contact our office
immediately. This will allow us to proceed in the most
appropriate way in order to protect your interest. Whenever debtors feel they can circumvent the agency and appeal directly to the client, the agency loses credibility. As a result, recovery of the debt will be compromised.
IF I WANT TO RECALL A CLAIM?
claims withdrawn or closed where you have not received any payment,
the closing fee will be waived. However, a closing fee or possibly full commissions will be charged if the debtor has made a promise to pay or after closing the claim at the client's request, the client benefits financially from the agencies efforts.
SHOULD I TURN CLAIMS OVER FOR COLLECTION?
of the major factors in determining the recovery of any claims is
its age. A delinquent dollar is worth less each day it
remains unpaid. Past due claims should be turned over
immediately after the debtor has breached your specific terms for
payment and a final demand made to the debtor with a definitive due
date does not come to fruition. The average age of a claim for
collection placement is between 90 and 120 days.
DO I GET A REPORT ON MY CLAIMS?
request, we will furnish you with a status report. All
reports will give information on the present condition and progress
of each claim that you referred to our office.
ARE REMITTANCES SENT TO ME?
monthly statement will be mailed or can be emailed to you when payments on claims are
made to either our office or yours. Remittances can be made by check or an electronic ACH payment.
DO SOME AGENCIES HAVE LOWER RATES?
rates that seem to good to be true, usually are! Poor recovery
ratios and services are always a by-product of very low rates or
fees. These enticing and unrealistic rates prevent an
agency from investing in the more costly procedures necessary to
produce maximum recovery ratios. Consequently, corners are often cut
and basic form letters become the only affordable method
for collecting. In turn, the only cases that end up being
pursued and possibly collected are the ones that will immediately
give in. The bottom line is a net loss to you.
DO WE KNOW THAT YOU ARE THE RIGHT AGENCY FOR THE JOB?
record, client base and diversified services are what to consider
when qualifying an agency. A competent agency should be
able to provide you with an active list of distinguished clientele
and their client base should have a minimal turn
over. Their recovery ratios should exceed industry
standards and they should offer every type of service necessary to
collect any claim. Marel Associates fulfills all these expectations.