Winter 2013 Newsletter       


Accelerating Cash Flow through every stage of the recovery process!

Newly Minted Mission


Receivables Control's staff gathered at a retreat recently with the purpose of giving thought to the customers we serve and how we would forge Receivables Control's path for the next decade as we look for additional ways to serve our clients. 


A significant accomplishment from our retreat is the creation of our new mission statement.  Initially there was debate about whether or not we even needed to change our mission.  After all, it has endured for more than 20 years.  However, when we put it under the microscope, we found it didn't go far enough to convey our passion and purpose in serving clients.  Therefore, we crafted a new mission statement:


Receivables Control Corporation's mission forges the purpose and reason for our corporate existence. It drives each and every employee on a daily basis. It provides a guiding force for our relationships with our business partners.


Our Mission is about accelerating the cash flow of our clients. As a seasoned, professional financial services firm providing collection services for corporations and organizations for more than 40 years, we excel at providing an extraordinary level of value and service that surpasses what is available within the recovery industry.


Our Mission is about accountability. When businesses owe other businesses money, it is our job and our responsibility to help hold our clients' customers responsible for their commitments. It is the right thing to do. And as this valuable service is performed, both parties feel better, knowing they have acted responsibly and are accountable to one another.


Our Mission is about building a foundation of long-term relationships. Our commitment to a consistent customer experience through effective recovery programs has helped us build decades-long partnerships with clients. We bring solutions to the table in resolving what has become a breach of trust between our client and their customer. The creative solutions we provide often enable our clients and their customers to repair strained relationships and start anew.  


Finally, our Mission is about integrity. Whether we are working with Fortune 500 companies that are owed millions of dollars by hundreds of customers, a small business that has a dozen accounts it needs to collect, or banks that have loans which need to be brought current, Receivables Control Corporation strives to carry out its mission with professionalism, honesty and honor. A high level of trust is a hallmark of our client relationships.


This is the Mission of Receivables Control Corporation.


I have no doubt that our mission provides readers a vivid picture of what we believe at Receivables Control.  Everyone on our team has rededicated themselves to achieving the spirit and purpose of our mission and providing our customers great results.


Mike Z NewWith the holiday season upon us and 2014 approaching quickly, we are taking some time in this newsletter to recognize a number  of noteworthy accomplishments of our team members.  From the entire team at Receivables Control, we wish the best for you and your families!


Mike Zwach is the Executive Vice President and General Manager of Receivables Control.  Contact Mike at 763 315 9697 or email him at

Remarkable Achievements


Receivables Control recently held its annual Employee Appreciation Dinner.  Each year we take time during the holiday season to recognize special accomplishments and key milestones.  We take time to thank all of our staff for their tireless efforts throughout the year.  Following are a few noteworthy achievements from 2013:


Marty Bell was named by his peers as the Employee of the Year for 2013.  In addition to having his own accounts, Marty also manages a team of 5 account advisors.  Marty started his career at Receivables Control in 2004 and is now a two time winner of this award, having also won it in 2008.



Brittany Ritzer, Jack Powers, Isaac Hjermstad, & Charles Lakotas

The finalists for the Employee of the Year are an unstoppable force;  Brittany Ritzer, Jack Powers, Isaac Hjermstad, and Charles Lakotas.  This group has more than 70 years of combined collection experience and was recognized for their outstanding performance in collecting clients' accounts.  Each of our finalists has demonstrated production leadership this year.  This crew of collection professionals is the best in the business!


Laura Van Klei was named as the Ignitor of the Year for 2013.  She previously won this award in 2011.  This award is voted on by peers and awarded to an operations team member for outstanding performance.  Laura manages our Trust Accounting Department and is responsible for accurately posting and remitting tens of thousands of transactions and many millions of dollars.  Laura was also recognized for completing 10 years of service with Receivables Control. 


Jim Fritz was recognized for 20 years of service.  Jim began his career with Receivables Control June 1, 1993, splitting his time between selling and collecting.  Soon afterwards, Jim narrowed his focus and pursued sales full time.  Jim's passion for serving clients led to being named the Vice President of Sales.  Jim has been the sales production leader at Receivables Control for more than a decade!  


GinaGina Schillewaert completed 15 years of service in 2013.  Gina joined Receivables Control after managing a quick-serve restaurant.  Gina is a key member of our administrative staff and is the customer service representative for key clients.  Gina's work ethic is unstoppable and her efforts keep our collection floor focused on collecting money!


Deb Johnson was recognized for completing 5 years of service with Receivables Control.  Deb joined our administrative team to help support our collector staff.  Deb's key responsibilities are transferring data from our client's systems to collector's files.   Deb's work helps our account advisors spend more time collecting and less time searching for documents.


Thanks to all for making 2013 another successful year and we look forward to greater accomplishments in 2014!

Front LinesFrom the front line:  Is your customer  holding a retirement sale?

We all dream of retirement.  What are your dreams?  Spending time with grandchildren?  Wintering in a warm climate?  Golf whenever you want?  Maybe you envision palm trees and a beach.  I envision skiing every day of the ski season!


Retirement is a good thing.  When a business has a retirement sale, you might think about a seasoned business person having one last sale to close their store, pay their creditors and head off into the sunset.  So what's wrong with a retirement sale? 


All too often we have found that around the end of the year "retirement sale" is a euphemism for "liquidating".  In the former, creditors think they will get paid and in the latter, they rarely get paid.  Some soon to be retired businesses actually increase their holiday and year-end buys knowing they don't intend to do anything other than liquidate after Christmas.


What's a credit manager to do?  Be on alert, know your high risk customers, and use the tools and information you have at your disposal:

  • Look for customers with marginal credit that are making significant buys for the holiday season.
  • Talk to your sales force.  Countless times I have had sales people tell me they know about customers who are having "retirement" sales, but they fail to relay that information to the credit department.  Your sales force often provides your first warning that there is a problem.  Ask them what they are seeing out in the field.
  • Actively monitor credit holds and customers wanting credit increases.
  • Look for warning signs when calling customers, do they have voice mails announcing a year end retirement sale or liquidation sale?
  • Is your customer non-responsive?  They often don't want to talk to any creditors.
  • Use the web!  Google your customer's name to find out what they are doing.  Look for announcements of retirement and liquidation sales.


Protect your company's exposure on the front end.  If you have marginal accounts, cash is best.  If you have already extended credit terms, then do everything you can to make contact and arrange for payment on a specific date.  If you are nervous that the customer isn't going to cooperate with you, then we are happy to help you. 


Kelly Brand NewI am sure you have great customers that occasionally hold a retirement sale.  We wish them the best and for everyone else, keep your guard up and be cautious!


Kelly Cronan is the Vice President of Collection Operations.  Kelly can be reached at 763 315 9660 and his email is




In This Issue
New Mission!
Award Winners!
Retirement Announcement?
Industry Results
Need Answers?

Quick Links


Executive Team


Luke Vidor, Chairman




National Sales Team


Jim Fritz, VP


Scott Hopper 


Rod Mettling 


Josh Vidor


Joe Quarnstrom




Business Development


Kurt Huizinga




Asset Recovery Group


Patrick O'Gorman



Our Core Values



Long-term Partnerships













The Commercial Collection Agency Association released 3rd quarter placement results.


For the twelve month period ending September 2013, when compared to the twelve months ending September 2012, gross dollars placed to collection declined more than 27%, while the average size of collection placements grew more than 7%.


B2B collection placements have fallen every year since 2009.  

Looking for Answers?


Have you ever been put on the spot to answer tough questions about a delinquent account?  Perhaps you are asked about standard industry practices.  Maybe you need to find someone in a like industry to talk about best practices.


These are all areas where Receivables Control can assist you. 


We love to help clients research challenging accounts whether they are placed for collection or not.  We have the ability to check the track record of a company and provide you information that will help your company make decisions.


We have broad industry knowledge and can share how other clients manage accounts and we can provide an introduction to one of your industry peers.


Feel free to contact us anytime.  We are here to help!

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Receivables Control

7373 Kirkwood Ct,

Suite 200,

Maple Grove, MN 55369


763 315 9600