According to the American Collectors Association you can expect a return of 21% on non-hospital medical bills.
Every prospective client asks me about our rates for debt collection. It’s the first thing we think of to separate prospective vendors when we have to make a choice. We all talk in terms of ‘What is the charge?’ but what we really mean is ‘What is the return?’
With Debt Collections we do not purchase a depreciating piece of equipment. Contingent collections are all about how much we get back. If a particular agency gives us an extra few dollars for each collected account, it is giving us a better deal period.
Is it worth saving 10% on collection fees if it means you will get back 30% less in payments? Of course not. Is it worth paying 10% more to increase your return by 50%? Absolutely!
Any Debt Collection Agency can make a profit at reduced percentage charges. All that they have to do is less of the time consuming, expensive work. They will continue to make a profit. You, however, will get less money back for your claims.
It’s all about how much you get back.
Understanding debt collection and background screening best practices can save your business big money. Building up front applicant screening into your business processes costs you very little, but saves you so much in the end. If you haven't already, partner with a full service debt collection and applicant screening company to guide your business to a place of security and prosperity. Contact us to sign up for a free account and get started protecting your business today.
ABOUT EXECUTIVE CREDIT MANAGEMENT, INC.
Executive Credit Management is a full-service Debt Collection and Applicant Screening agency with over 20 years experience located in Central New Jersey. We provide excellent service in the following areas: Employment Screening, Business Screening, and Tenant Screening. Executive Credit Management belongs to a number of Skip Tracing databases and offers services to help locate and confirm the current address of missing debtors. Other services provided are: litigation evaluation on all lawsuit decisions, improvement of the quality of the applicant data, Lawsuit Monitoring, Handling of Debtor Disputes. Executive Credit Management features the best Call Monitoring System in the Debt Collection industry.