Collection Process
- Process
- Our collection process is well-defined and has been proven successful. It all begins with a new business placement. Upon receiving a client's placement, new business is immediately entered into our state-of-the-art proprietary software system. In fact, 100% of business placed is on the collection floor by 8:00 am the next business day! This immediate attention provides for maximum results in collecting outstanding receivables.
- Expediency
- All accounts placed with Greenberg, Grant, & Richards, Inc. over $800.00 are contacted by both a Private Investigator and collector within the first twenty-four hours of being placed. Accounts over $10K are contacted by the Private Investigator and collector within three hours or less from the time of placement.
- Strategy
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New accounts are distributed on a tier basis with the most successful, tenured collectors receiving the larger balance accounts. Each collector has a strict flowchart that must be followed to obtain the maximum collection results for our clients. For example, if a $500K debt was placed with a collector on Friday, the client would know by Monday if they had been scammed by a con artist. They would then be provided the name and numbers of the law enforcement agencies that were in active pursuit.
If a collector is not successful within a certain amount of time the account is evaluated by management to determine whether it should be assigned to another collector for an even more comprehensive effort.
- Education
- Collectors have regular training meetings with GG&R's management team to improve skills and to share new ideas. During daily collection review meetings, successes are shared to educate other collectors on methods to improve collection results.
- Tools
- We have state-of-the-art research databases that enable us to determine a debtor's ability and probability to pay. This information is shared with the client to increase decision-making capability. Additionally, collectors are provided with the latest technology at their fingertips, including digitized images of supporting documentation and e-faxing to further their collection efforts. Other support tools include third party monitoring and recording of telephone calls for training and customer service usage, as well as the electronic transmission of accounting information.
