While ProCollect strives to offer the best possible rate, this should not be the primary consideration when selecting a collection agency.
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.
Our fees are determined by a combination of the following:
- Average age of the accounts referred.
- Average balance of accounts referred.
- Type of account (i.e. Apartment, Retail, Bank, Utilities, Physicians, Hospitals, etc.)
- Volume of accounts referred on a monthly basis.
- Accuracy of account information.