Why Use NCR?
- Why use a collection agency?
- How quickly will you collect my money?
- What if my debtor disputes the debt or simply refuses to pay?
- Does NCR handle my claims all the way through the collection process, including legal?
- How important is the age of a debt?
- My Company is very customer-oriented. Can you collect without damaging or jeopardizing future relationships with our clients?
- What sets your firm apart from the many agencies out there?
- How long have you been in business?
- How do I become a client of NCR?
- I'm interested in placing multiple accounts. Do I have to fill out one placement form at a time or can I place in mass?
- If I decide to use your services, how do I get started?
- What information would you need from me in order to get started?
- What is your fee?
- What is your process for collection?
Why use a collection agency?
Debtors will often pay a collection agency even though they never cooperated
with the original creditor, mainly because collection agencies typically increase
the psychological anxiety associated with a debt. Second, the debtor will understand
that the creditor is serious about collecting their money. Also, many debtors
are wary of the impact that a collection account can have on their credit score.
What are your overall collection success rates?
There are several variables that will influence recovery rates: the age of the
debt is arguably the most important factor. The older the debt is, the lower
the chance of recovery. Other important variables include: industry, balance,
documentation and demographics.
How quickly will you collect my money?
Claims are entered within the first 24 hours and the first collection notice
is mailed immediately thereafter. This notice is followed up with phone calls
and additional letters. Some debts are collected in the first 2-3 days while
others may take up to 2 or 3 years!, debtors who dispute the debt and debtors
who are simply uncooperative. On average, though, we collect most of our client
payments within the first 30 days.
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What if my debtor disputes the debt or simply
refuses to pay?
If the debtor disputes the debt, NCR will provide them with verification, which
typically consists of the documentation initially provided by the client. On
occasion and depending on the dispute, NCR may have to request additional documentation
from you, the client, in order to properly verify the debt. If the debtor simply
refuses to pay, we will review the file to determine if litigation is advisable
and upon client approval, will file suit or if out of state hire collection
counsel. Relevant factors to consider prior to commencing litigation include:
good documentation, balance, cost of litigation and a good address to serve
the debtor with the lawsuit.
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Does NCR handle my claims all the way through
the collection process, including legal?
Yes. NCR will attempt to recover your debt in-house. In the event litigation
becomes necessary, NCR will request your authorization to file suit in Magistrate
Court. We also keep you updated as to the progress made by our collection staff
working on your behalf. Our clients appreciate the fact that we take care of
everything throughout the collection process, especially the legal process since
many people are not familiar with the complexities involved in a lawsuit.
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How important is the age of a debt?
The age of a delinquent account is one of the biggest factors in determining
whether or not a debt gets paid. The older the debt, the harder it is to
collect. Research on the collectability of delinquent accounts clearly shows
that the most advantageous time to enlist the services of a collection agency
is within 60-90 days of the invoice due date. Incorporating this strategy
will help ensure maximum recoveries with the least cost to your company.
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My Company is very customer oriented. Can you
collect without damaging or jeopardizing future relationships with our
clients?
We don't adopt a “cookie cutter” approach to collections. Many
of our clients give us specific instructions as to how to proceed against their
customers. We realize that today's slow-paying customer can often be converted
into tomorrow's good-paying customer with the right amount of collection follow-up,
which is why NCR attempts to salvage the business relationship between our
client and their customer.
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What sets your firm apart from the many agencies out there?
Established in 2000, NCR has seen significant growth over the years. During this
period, we have learned what our customers require and have structured our company
to provide them with exactly those needs. Performance and communication are two
aspects that hold great importance for us since their successful accomplishment
will translate into satisfied clients. NCR only hires seasoned veteran in the
collection industry which allows us to spend more time collecting your delinquent
invoices then training rookies how to collect. We take collections very seriously
and believe that collections are and should be our primary focus.
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How long have you been in business?
After having been established in 2000, the growing pains experienced by younger companies are far behind us. We are
established, have a superior staff, have identified our clients' needs and are
ready to be your collection agency of choice.
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How do I become a client of NCR?
We have included our standard collection services agreement for your review and
authorization. The agreement can be printed or submitted online along with
your delinquent inventory. Once received your customers will be contact within
24hr of placement This agreement does not mean that you are obligated to NCR.
Rather, exist in order to explain what we intend to do for you, and what we
expect you to do for NCR. It's basically a mini rulebook governing our relationship.
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I'm interested in placing multiple accounts.
Do I have to fill out one placement form at a time or can I place in
mass?
Ease of placement is a reality at NCR. We provide the online placement forms
for those clients that have one or several claims to place, but for those clients
with heavy volume, we can receive their placements via fax, mail, electronic
medium, E-mail or FTP. Our new enhanced website easily accommodates those clients
with large volume placements.
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If I decide to use your services, how do I get
started?
Claim placement is a snap with NCR once you have authorized the appropriate
collection services agreement. Simply click on the claim placement form and
fill it out as indicated. Should you have the need to process many claims,
we can establish an account number and password for you, thus enabling you
to place directly on-line with us. Once an account is placed, NCR commences
services immediately.
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What information would you need from me in order to get started?
After obtaining your company's name, address, fax, phone and E-mail address,
we would require the debtor's contact information; name, address, phone numbers,
total amount owing and its due date. This information is sufficient for us
to commence collection activity against your debtor. However, relative to
collections, knowledge is power. The more information we possess concerning
the obligation, the easier it is to dissolve objections and effect payment.
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What is your fee?
Generally speaking, our contingent fees are 33 1/3%. Should attorney intervention
become necessary, contingent rates are also 33 1/3% for commercial and 50%
for consumer debt.
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What is your process for collection?
Once a claim is forwarded to NCR we initiated contact within 24 hours. Our
efforts continue through a series of impact letters and timely phone contacts
until the account is resolved by one of the following outcomes occurring:
payment in full, payment arrangements made, settlement made, litigation necessary.
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