FREQUENTLY ASKED QUESTIONS Q: WHAT HAPPENS WHEN PAYMENTS COME DIRECTLY TO MY OFFICE? A: We 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. Q: WHAT ABOUT MERCHANDISE RETURNED TO ME? A: When merchandise has been returned for credit or settlement of a claim, our fee is 1/2 of our standard rate. Q: WHAT SHOULD I DO IF THE DEBTOR CONTACTS MY OFFICE? A: You 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. Q: WHAT IF I WANT TO RECALL A CLAIM? A: On claims withdrawn or closed where you have not received any payment, the closing fee will be waived.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. Q: WHEN SHOULD I TURN CLAIMS OVER FOR COLLECTION? A: One 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. Q: HOW DO I GET A REPORT ON MY CLAIMS? A: Upon 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. Q: WHEN ARE REMITTANCES SENT TO ME? A: A 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. Q: WHY DO SOME AGENCIES HAVE LOWER RATES? A: Commission 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. Q: HOW DO WE KNOW THAT YOU ARE THE RIGHT AGENCY FOR THE JOB? A: Track 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.