Accounts Retrievable System

3 Tips for Improving Your Collections Process

In today’s economy, businesses can rarely afford to spend time resolving disputes and collecting debts. However, it is critical that you receive payment for the services that you provide. Here are 3 tips for improving your collections process.

• Investigate Your Customer

Before offering your services to a client, it is a good idea to do some basic investigation. Conducting research about your potential customer’s finances can help prevent further complications. If you are contracting with another business, find out whom they serve. If their clients seem reputable, then this is a good sign that the company will be a reliable. While it may seem counterintuitive to turn down potential clients, taking on financially unstable customers can end up doing more harm than good to your business.

• Understand Your Customer’s Reputation

Once you have decided to take on a customer, try to find out as much as you can about the client’s reputation. In particular, see if you can discern how they generally go about paying for services. You can find this information from other businesses that have taken them on as clients. By doing some research, you can prevent confusion or disputes later one.

• Communicate with Your Customer

Constant communication is the key to improving your collections process. By establishing a relationship with your customer, you can ensure that both parties are fully informed throughout the process. You will understand your customer’s needs and limitations, and they will understand your expectations when it comes to payment. Once you have provided the service in question, you will be able to approach the customer honestly and in good faith to collect your payment. Regular communication can help establish a payment schedule that fits the needs of both your business and your client.

If you would like to know more about how you can improve your collections process, call Accounts Retrievable System at (516) 308-9273.

The Power of Critical Listening in Collections - Podcast

Communication is the key to resolving debt issues in an amicable and efficient manner.

In this podcast you will hear about the power of critical listening in collections. The goal of listening, for example, is to develop a rapport with an account holder. For example, engaging in an honest conversation with an account holder can help the collections agencies decide whether there is enough information to file a claim. Furthermore, patient listening helps build trust between the collections agency and the account holder.

If you have any further questions about the power of critical listening in collections, call Accounts Retrievable System at (516) 308-9273.

What You Need To Know About Maintaining Your Businesses Financial Records

Many small businesses have a hard time collecting past-due payments for services provided to their clients. Check out these great resources for more information on the benefits of hiring a professional collections agency, the importance of record keeping, and the dos and don’ts of dealing with unpaid debts. Give Accounts Retrievable System a call at (516) 308-9273 for more information on our collection services.

• This link from CollectionAgency.info provides a company profile for Accounts Retrievable Systems.
• Why should your company keep up-to-date records? Find out with this link from IRS.gov. 
• Explore this article from BankRate.com for tips on which records your small business should be keeping.
• Make sure your company is keeping adequate records with these tips from Investopedia.com.
• When should you send an account to collections? Check out this link from BusinessKnowledgeSource.com for more information.

Find Out More About Streamlining Your Collections Process And Dealing With Collections Problems

Many small businesses have a hard time collecting past-due payments for services provided to their clients. Check out these great resources for more information on the benefits of hiring a professional collections agency, the importance of record keeping, and the dos and don’ts of dealing with unpaid debts. Give Accounts Retrievable System a call at (516) 308-9273 for more information on our collection services.

• Explore this New York Times article for more information on how some small businesses are creatively obtaining unpaid debts.
• This link from MoreBusiness.com provides tips for collecting overdue accounts and unpaid bills.
• Check out this link from SmallBusiness.Chron.com for more information on the increase in the number of businesses filing for bankruptcy.
• Learn more about the benefits of hiring a collections agency with this entrepreneur.com article.
• Want to check out a review of Accounts Retrievable System? Visit this link from the Better Business Bureau to find out how Accounts Retrievable Systems rates among other collection companies.

The Accounts Retrievable System FAQs

Many small businesses turn to a professional collections agency to help them gain compensation for unpaid services from their clients. However, not all commercial collections agencies are created equal and very few firms provide the same services available through Accounts Retrievable System. Review some of these frequently asked questions to see what sets Accounts Retrievable System apart.

What Types of Accounts Can Be Collected On?

Accounts Retrievable System helps clients collect a number of accounts, including commercial accounts, consumer accounts, retail accounts, unpaid child support, spousal maintenance, and Judgments. ARS also collects accounts related to auto loans, personal loans, student loans, and landlord/tenant issues. Accounts Retrievable System also provides professional collections services for out of state and international claims.

What Is the Minimum Claim?

Another question commonly posed is whether or not there is a minimum amount of debt that ARS will collect on. Generally speaking, the minimum amount for claims accepted is 1,500 dollars. Unlike other commercial debt collections agencies, ARS does not require any up-front payments and will only charge for services upon the successful collection of accounts.

How Long Should I Wait Before Contacting a Collections Agency?

Many companies question how long they should wait before sending an account for collections with Accounts Retrievable System. While there are no set parameters, most accounts are sent to collections within 90 to 150 days of the last payment or invoice, as the longer you wait the more difficult it may be to collect those receivables. 

What Resources Can You Draw On?

ARS works with a national network of more than 420 collections attorneys who will begin the litigation process if traditional collection tactics do not yield sufficient results.

For more information on our services or the Accounts Retrievable System difference, give us a call at (516) 308-9273. You can also visit us online for more information on how to submit an account for collections.