3rd Party Collections
Chasing delinquent accounts can take a large amount of time and money, while distracting you from your day-to-day business operations. We know that after 90 days, the success of in-house collections drops by approximately 80%. We also know that contact from a 3rd party will help prompt payment.
Benefits of using Advanced Financial Services debt-collection agency:
- Advanced skip tracing techniques
- Analytic software that helps us determine which consumers have the ability and likelihood to pay
- Real-time account activity access via Client Access
- Monthly management reports available
- Free credit bureau reporting
- You only pay a percentage fee on the accounts we collect for you
Information obtained through analytics helps us to determine reasonable payment or settlement agreements that work for both our client and the consumer. The average recovery rate in the collection industry in 2018 was 11.1%, and our average recovery rate is 18%, and is as high as 40% recovery for some clients.*
Our dedicated agents can help create a program that best meets your needs.
*Average recovery rate reported by Kaulkin Ginsberg 2020 State of the Industry Report.