Creditors Interchange B2B Collections

Relationship Respect Results Creditors Interchange B2B



	Improving Your DSO
	The below graph illustrates the importance of taking early action on your commercial receivables. The projections are based on information obtained through the Commercial Collection Agency Association.
	According to the CCAA data, after three months the probability of collection on a commercial placement drops to 73 .1%. After six months the probability drops to 50% and 29% at the one year mark. Consequently the earlier the placement, the greater the yield from and the greater the reduction of your Days Sales Outstanding.

	Skip Trace Services Department Skip tracing in an essential part of collections. An effective combination of internal and external databases and resources are utilized to locate the debtor. Our process of skip tracing includes, but is not limited to: - Nearby's (former neighbors) - Military Locators - Former Employers - City Directories - Tax Assessors Office - Department of Motor Vehicles - Creditors - Utility Companies - Credit Bureau - Voter Registration Office - Social Security Number Trace - Post Office - Private Investigators - Database Resources - Pro-Phone DISC Nationwide Search - Landlords - Library - World Wide Web

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Business To Business Collections

Business to business collections is more then “Just Business”. Business to business collections is about maintaining relationships, it’s about respecting the client and respecting their clients, and it’s about providing results. At CI we are dedicated to working with you the client to determine the best course of action in order to service your accounts.

Collection Procedures

At The Time Of Placement

1.	An initial demand notice is sent.
2.	Accounts are assigned an "action plan"
3.	Direct telephone contact is attempted once a day for the first five days.

Once Verbal Contact Is Established
All repayment options will be explored in an attempt to secure payment in full. A debtor is typically allotted a maximum of two days to gather the means for repayment. During this time, the CI will run a credit report and contact creditors, trade references, etc. to gather additional financial information.

An attorney demand letter will be sent and a private and civil investigator will be assigned to conduct an asset and liability investigation on accounts with a balance in excess of $3,000.00 or based on client requirement.

The investigation and attorney demand letter are contingent upon the accounts "action plan." Investigations are essential on large balance accounts to determine a debtor's ability for repayment. Investigator's are at our expense to help us to determine the solvency of the debtor and the ability to repay the debt.

Action Plans

Creditors Interchange recognizes that our clients may have an established relationship with their customers and because of this; CI has developed a system that ensures each account is handled in an appropriate manner. At the time of placement, accounts are assigned a plan of action from 1 to 4. These numbers will instruct our collection team as to the manner in which the client would like the account collected.

Action 1
An investigator contacts the debtor and conducts an asset and liability investigation to verify financial security. The debt total of these accounts is in excess of $3,000.00 and the client's primary goal is recovery of the debt. Collectors are continuously working the account to recover a full repayment as soon as possible. If necessary, a collector is permitted to send a five-day attorney demand letter as part of the recovery process. Our clients will be contacted for approval to forward the account to our legal department.

Action 2
This plan is utilized when the client is concerned about maintaining their relationship with the customer. No investigators are utilized. Communications are made by the collector only, using traditional collection methods. These accounts may also contain sensitive subject matter.

Action 3
An action 3 plan is used when a company would like to clean up their 30 to 90 day account receivables. CI is hired as a private-label collector and will verify debt and request payment on behalf of the client using an audit presentation.

Action 4
This is utilized as an outside billing service only. New accounts are entered into our system and billed according to our client's needs, not as overdue accounts. This billing service is extended to executive, legal, and medical institutions due to the unique nature of each business.