How our Debt Collection Agency
Can Boost Your Accounts
How is Collecty is different from other Collection Agencies?
The more we know of your customer’s finances, assets, associations, business relationships, and contact numbers, the better prepared we will be to GET YOU PAID. Â
Information is power.
Unlike most collection agencies that simply mail a fill-in-the-blank collection demand letter to your customer’s last known address, Collecty is one of the only collection agencies that processes each and every collection assignment through a comprehensive “skiptrace” and background search to find a lot more information on your customer than you may already have.
Utilizing the information obtained in our background search, we then contact your customer directly and craft a persuasive demand for full payment by experienced and seasoned debt collection professionals. Â
Other collection agencies use a very cookie-cutter approach, resulting in poor recoveries.
How will Collecty maintain my reputation and relationship with my customers?
The secret is in our collection staff. Â
Unlike other agencies that have a revolving door of average and inexperienced collection employees, we view ourselves as an extension of your business. Â
We only employ highly skilled collectors that have the experience and knowledge to secure payment from your customer while preserving your customer’s goodwill to maintain your hard-earned reputation in the industry. Â
Preserving your customer relationships can only be achieved by hiring the best people. Â
You simply cannot get that with the average collection agency. Â
However, although we employ top shelf talent, we can afford to offer our clients very low rates because we recover far more money than most agencies.
How can I check the status of my accounts assigned to Collecty?
We provide all of our clients with online account access to allow your company to view your accounts in real time which will permit you to review work procedures, place accounts for collection, check status, view payment history, check on invoices, and even enter your own notes on your accounts.
For a Quick-Tour of our online access please contact-us.
What is Skip Tracing?
This term evolved from “tracing” for “skip” customers.
Skiptracing is the process of locating contact information on your customer, such as a current and an alternate address, email and telephone number
( very important! ), and can include obtaining a person’s place of employment as well as locating assets such as property, bank accounts, or automobiles, and much more.
I already have a collection agency. Â
How can I improve their performance?
Most collection agencies will exhaust their recovery efforts within the first 90 to 120 days of an account being assigned to them for collection, then “warehousing” the account, letting it sit un-worked for months at a time, hoping the debtor one day decides to address the collection account. Â
‍In the meantime, your accounts are not being worked and not getting collected. Â
The solution to make the agency work harder is to limit the agency to a specific time frame for the accounts to be either collected or closed – 6 months is a good time limit. Â
This allows you to forward the uncollected accounts to a second agency to attempt collection. Â It costs you nothing to let Collecty attempt to recover the accounts not collected by your existing agency.
You have nothing to lose and everything to gain.
Users growth
per month
Increase on
sales last year
Number of visits
per country
Less Card Fraud
visitors
Increase your profits by 10x by focusing on most for your business
What is RATE versus RETURN and why is it important to me?
Some agencies will “low-ball” their rates just to get a lot of business in the door.
A lower contingency rate does NOT necessarily mean more money to your company.
Actually it usually means just the opposite. Â While most agencies charge anywhere from 20% to 50% (depending on the type and age of the paper), there are a few agencies out there that will charge rates as low as 18%, 15% or even less, but they cannot possibly work your accounts to their fullest recovery potential at those rates. Â
All collection agencies have access to the same resources other agencies have, and we all pay the same price for those resources. Â
A “cut-rate” agency can only utilize a fraction of those resources when operating on such low margins, resulting in less money collected for you!
How long should I wait before I assign my accounts to a collection agency?
The number one mistake companies make is holding on to their past due accounts too long.
The longer an account is allowed to remain unpaid, the less chance you or anyone else will have in recovering the money.
The following recovery rates are based on national credit and collection statistics:
0 Â months late - 94%
1 Â months late - 90%
2 Â months late - 81%
3 Â months late - 70%
4 Â months late - 64%
5 Â months late - 59%
6 Â months late - 56%
9 Â months late - 40%
12 Â months late - 19%
24 Â months late - Â 8%
Collecty recovery ability is much greater than these national averages, and our chances of getting you paid are much greater if accounts are assigned within 3 months of delinquency. Â
In no case should you wait longer than 6 months to assign delinquent accounts for collection. Â
Older accounts are still recoverable, but the chances of collecting are diminished the longer you wait.
How it works
Things we can do for you
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We believe we can provide you with the service and results you are seeking in a debtcollection agency, and we look forward to working with you to help get you PAID.
We do not "factory automate" the collection process
that simply uses computer-generated letters and pre-recorded messages left on your customer’s answering machine. Â
Each of your accounts is specifically assigned to a skilled collection professional who will work the account from start to finish for maximum recovery.
How can I really know how Collecty compares to other agencies?
We wouldn't ask you to stop doing business with your current agency if you're happy with them. Â
However, as with most businesses, collection agencies perform better when they know they are competing against another agency for the client's business. Â
To determine if your current agency is performing optimally, we advise that you refer a set of accounts to us and compare the results.
If your current agency is made aware of the comparison, you will likely see an improvement in their performance.
To “put us to the test”, we ask that if you are currently using the services of a collection agency, ask the agency to give you a list of the accounts they have not recovered in the past 90 days, or accounts they have deemed “uncollectable”. Â
Let Collecty work on those “uncollectable” accounts and show you just how collectable they may in fact be. Â
Another option is to split your next set of assignments between your current agency and ours and see for yourself who performs better for you in getting you PAID.
