Too many times a company will go with rates without determining the qualifications of an agency. If the collection agency knows little about the intricacies or doesn’t have the staff or management to work your accounts properly, it is highly unlikely the lower rate will result in more revenue to your company.
Example, if a company places $100,000.00 to a collection agency and the agency charges a rate of 40% and produces a 25% recovery, the return will be $15,000.00. However if another collection agency charges a rate of 35% but only produces a 15% recovery, the return would be only $9,750.00.
Don’t be steered by rates only. Choose a collection agency with proven results.
We are extremely confident in our recovery system and believe we have the staff and experience that will achieve the results that you expect. While no collection agency can guarantee 100% results we believe we have tailored an approach that will insure the best possible results for your company, therefore doubling the national average for collections.
Do you have the proper information to help recover your bad debt?
Studies conducted by the American Collectors Association (ACA) concluded that for every thirty days an account remains dormant, it is 16% less likely to be collected. Thus, it is easy to see that when accounts are not worked on a consistent basis and sit dormant for six months or longer, they are much less likely to be collected.
When a debtor knows they have bad credit, they obviously do not apply for new credit. For this reason the Credit Bureaus are not sent new updated information on the debtor.
Tarantino continues to be very pleased with the services provided to our multi-family apartment communities over the past several years. Your monthly reports are beneficial in helping me manage my portfolio containing multiple sites with various owners. I look forward to many more years working with ProCollect for our collection needs. Keep up the good work.
I met Larry Gingold with ProCollect at the 2008 Mississippi Multifamily Council Trade Show. After talking with other management companies, everyone had good things to say about his company. I gave him a few properties to test so I could see what he could do for us. I was so impressed with their collections that we now have all 23 of The Kirkland Company properties using them for our collections. If you need a fantastic collection agency that cares about your needs, I recommend that you give Larry a call and tell them Deborah sent you.
I wanted to formally thank you for your diligence and excellent collection ratios your company has brought in for us. A collection amount of over $52,000 has added significant accomplishments to our portfolio. It is wonderful to know that we have a strong business partner that is truly interested in helping us meet our goals during these tough economic times! Please let me know should you need anything and we look forward to a productive 2010 with your help.
Working with ProCollect for our collection needs has been a pleasure. Larry Gingold, the president of ProCollect, has been very accommodating to our needs and requests and is always available to assist our corporate and site personnel. ProCollect has stayed current with their reporting and technologies and continues to stay abreast of Collection technology trends from reporting to collection call systems. Larry personally pushes reports to our key team members monthly in an easy to read format with a summary email of the collection activity for the report period and detail information is available online to our DM and corporate teams for auditing and review purposes. ProCollect’s typical collection percentage is 20%-25% and the personalized service cannot be surpassed.
I had used a lot of collections agencies over the years. All talked and promised lots of money would be collected…none succeeded. I hired ProCollect in 1998, and to this day, continue to see collections every month. ProCollect is all talk AND action!