Two Things that Matter Most also Return More Dollars to Your Bottom Line
Performance and Reporting
Customers tell us the two things they value most in their collection agency are great results and timely, informative reporting.  

Clients would be surprised to learn that reporting drives our superior results.  We want to uncover everything we can about a debtor because it gives us the insight we need to recover your money.  Without it we would be like so many other agencies that blindly call an account for a few weeks before blindly pushing it to legal and charging a higher rate. 

We constantly probe for more information.  We look for any edge we can gain.  We want to know how long a debtor has been in business, the number of employees, the number of partners, the numbers of locations, if there are suits or judgements, if their are liens, what the cash flow is, and so much more.  Knowledge is power and information allows us to create strategies to collect each account.

This is why we update clients about what we are doing to collect their money.  Some agencies decline to report until an outcome is known.  That's where we see the world differently.   Throughout the entire collection process, we are poking and prodding to find more information about the debtor.  We employ strategies that make your accounts more collectible!

Following is a list of the reports we provide our clients.  Take time to review this list and make sure you are receiving the reports you desire.
Elite Claim Report
Want to collect money faster and cheaper than you can with an attorney?  The Elite Claim Report and and Elite Claim Strategic Collection Approach was developed to help clients collect large accounts without the need to involve attorneys.  We wanted to prevent accounts from suffering through the long and expensive legal process. 

Within 10 days of placement, our collection professional utilizes information from their efforts and from our investigators to provide you an up to the moment status of your account and the strategy we will employ to collect the balance.   Each Elite Claim Report includes:
  • Inception date of the debtor's business
  • Ownership structure of the debtor company
  • Officers and principals of the debtor company
  • Pending lawsuits against debtor company
  • Judgements against the debtor company
  • Tax liens
  • Lien filings (UCC's)
  • Summary of collectors initial efforts
  • Recap of the customized strategy that will be employed to collect the debt.
Why does this approach collect more money?  Setting deadlines and forcing reporting ensures that we are taking all the steps necessary to create urgency and to customize our collection strategy.  An Elite Claim Report is completed on each in business account greater than $25,000.
Question Mark
Personal Visit Report
Have you ever wondered what your debtor's business looked like?  Does your debtor avoid you so much you wonder if they even exist?  We find the answers to those questions by getting boots on the ground and showing up at your debtor's door step to see for ourselves what is going on.  Within 48 hours of a visit, we provide clients:
  • Background information about the company, i.e. inception date, ownership/officers
  • Pending suits and judgements
  • Tax liens and other lien filings (UCC's)
  • Photographs of the business location
  • Investigators comments from the personal visit
  • Summary of our efforts
  • Recap of the customized strategy being employed to collect the debt.

A Personal Visit Report is completed for a nominal charge.  

Status Updates
Our collection professionals provide individually dictated status updates for each account balance greater than $2,000.  Clients receive these reports monthly for the first 90 days and on a quarterly basis thereafter.  This is another point of separation between Receivables Control and our competitors; too many agencies attempt to hold accounts open in perpetuity on the off-chance a payment comes in.  Our strategy is to aggressively work your accounts and to let you know what is happening each step of they way. 
Legal Transfer Recommendations
Going to court is never the first option to collect an account, but for those instances where the debtor isn't cooperating and is still in business, then suit helps us create the additional urgency necessary to gain payment.  The Legal Transfer Recommendation gives you all the information you need to know in order to make an informed decision to sue.  The recommendation lays out the background and ownership of the legal entity being sued, the debtor's history with other suits, and it has a summary of the collection effort along with the collectors insights as to why they believe suit is a viable option to recover your money.   
Closing Letters
In those instances when an account is not collectible, you may need third party verification for your bad debt expense.  For accounts greater than $2,000, our closing letter is dictated by the collection professional that worked your account.  It's a summary of all of the efforts that took place and more importantly the Closing Letter serves as a final check for the collector to ensure we have completely exhausted our efforts to recover your money.    
Additional Reporting
Receivables Control provides additional reports to inform you of our progress:
  • Acknowledgements: We send an email at the time of placement to confirm we received the account.
  • Debtor Activity Report:  Monthly, we email a report providing you the ability to check accounts at a glance.  This report provides a summary of each balance placed, the amount paid, and the amounts that are open and closed. 
  • Payment Notifications:  Daily, we send you an email letting you know which customers paid and how much they paid.
  • Monthly Remittance:  On the first working day of each month, you receive a remittance report that clearly outlines monies received at Receivables Control and monies received at our client's location.  It also lists any commissions owed and serves as an invoice for our client.
Accelerating cash flow
through every stage of the recovery process!

For more information about Receivables Control, contact us at newsletter@rccmn.com.
(763) 315-9600