COLLECTION APPROACH &
PROCEDURES
1.) Audit
Approach: We explain that we were retained by your company
to help audit your accounts receivable, and that they are
showing an outstanding balance. The collector will ask the
debtor if this is the same balance they have in their books.
If the debtor acknowledges the debt, our collector will ask
for payment in full. If the debtor disputes the debt, our
collector will have debtor provide proof of their claim by
fax.
2.) Firm Approach (Phone
calls and letters): Our collector explains to the debtor
that they have been placed with Hatmaker & Associates for
final collections and that the outstanding balance must be
paid immediately. If more aggressive action is required,
Client will have to authorize a more aggressive
approach.
3.) Firm and Aggressive
Approach (Private detective & Attorney Contact with
Demand): Our collector will explain to the debtor their
account is seriously delinquent and demand payment in full,
and that he will have one of our private detectives go to
their place of business to collect balance in full. If the
debtor ignores demands, the collector will immediately contact
an attorney in debtor's local area to contact debtor and have
a demand hand delivered to the debtor's place of business. If
more aggressive action is required, client will have to
authorize legal action.
4.) New Collector Final
Process: (Collector has followed all procedures
without results) If an account is considered to be not cost
effective for legal action, a second collector and even a
third collector will work the account in-house for a last
chance collection effort. This will keep the lines of
communications open with your debtors.
5.) Legal Action:
Legal
action will be discussed with the client, to decide if
further action is cost effective.
