Chasing delinquent accounts can take a significant amount of time and money and distract you from your day-to-day business operations. We know that after 90 days, the success of in-house collections drops by approximately 80%. We also know that contact from a 3rd party will help prompt payment.
Past-due accounts become harder to recover the longer they remain unresolved. Advantage Financial Services provides your business with a professional collection process designed to improve your chances of payment through consistent follow-up, account review, reporting, and respectful communication.
Our collections services include:
- Professional account recovery for past-due balances
- Analytic tools to help determine the best approach for each account
- Respectful communication with consumers
- Reasonable payment and settlement options when appropriate
- Real-time account activity access through Client Access
- Monthly management reports
- Credit bureau reporting when applicable
Industry research shows why many businesses turn to professional collection agencies. ACA International’s 2020 State of the Industry Report found that accounts receivable management firms collected nearly $102.6 billion in debt and returned $90.1 billion to creditors.
