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ABS helps businesses collect overdue payments
The very same system that allows you to recover money from slow- and no-pay accounts at a doctor’s office can be marketed with equal ease to small business owners.
Our system lets you be the hero who collects 41% of their past due customer accounts. Better yet, you can accomplish this for business for far less money than typical collection agencies charge.
Our Licensees report the following performance with their clients using the ABS Profit Recovery System:
- OVERALL RECOVERY TO DATE: 41%
- COST FOR RECOVERY: as little as 5% – not counting internal savings
Best of all, up until an Attorney gets involved on behalf of the business owner, communications are conducted through the mail. And while the letters clearly outline what can happen if the bill is not paid – all the legal recourses that could occur, including damage to the customer’s credit rating – they are respectful and professional, written on the letterhead of the business itself.
This maintains a personal tie and lets the customers know the business owner thinks enough of them that they haven’t been relegated to the “deadbeats” who normally go straight to the collection agencies.
Our human nature typically causes us to warm up when someone gives us respectful attention, rather than treating us like a number. As a result, the delinquent customer often develops a heightened sense of personal obligation to the business owner and responds to the mailings by paying the bill.
No matter how many accounts are overdue to a business, the ABS Profit Recovery System can increase the cash flow and dramatically reduce write-offs.
Six key reasons business owners appreciate
the ABS Profit Recovery System:
- An outsourced, structured system for communicating with late payers by mail
- Effective, proven collection letters sent on the letterhead of the business
- A series of increasingly emphatic collection demands explaining the
impact of nonpayment, which leads to real consequences including reporting the individual’s late payment to the Credit Bureau or possible action by an Attorney.
- An efficient method for coordinating collection efforts with an Attorney
- Compelling action by the Attorney – a series of collection contacts and legal steps taken as a last resort
- Web-based status information and progress reports available to the business owner on the secure site
Here’s how the ABS Profit Recovery System
puts “lost” money in the business owner’s bank account:
At some point, a delinquent customer simply becomes unresponsive to overdue statements. When the unpaid bill reaches 60-90 days, rapid implementation of the ABS Profit Recovery System can produce maximum collections:
Step 1: Setup
You add the customer to the system with the account balance, and the automatic system begins a series of courteous, but very effective, debtor collection demands to the past due accounts – using the letterhead of the business.
These letters, though polite, have teeth, informing the customer of the consequences, including the involvement of an Attorney, for failure to pay.
Step 2: Attorney Involvement (if necessary)
If the account is still unpaid 2 weeks after the fourth contact, you have the option to transmit it to a retained attorney assigned to your client.
The attorney will then mail a series of stronger, increasingly demanding contacts on the law firm’s letterhead, plus – on balances of $100 or more – make a series of courteous but effective, phone calls. If you want, the attorney will then proceed with litigation, if feasible.
Step 3: Option A - Payment
The letters instruct the debtor to send payment to your client's collection address throughout the process; so the business owner directly receives all monies paid.Option B: Non-Payment
If the account remains unpaid, our system will, at your client's option, transmit the debtor data to one or more of three National Credit Reporting Bureaus.Step 4: Account Resolution
When the customer pays, our system can mail a "thank you" letter if that option is selected by your client.Step 5: Client Reports
Each month your client will receive a detailed “Account Inventory Report” indicating all activity to date on all accounts submitted to the system. At any time, the business owner will have access to our web site where he or she may obtain a summary and detailed status report.
Our client service staff will call you each month, to ensure your satisfaction.
Why The ABS Profit Recovery System
can return more money to the business owner:
- The collection demand is intensified and applied sooner, using more powerful and proven tools than a traditional agency can deliver, so the cash flow is dramatically increased.
- Recovery is also increased because the customer is thoroughly informed of every possible legal alternative while the account is still collectable.
- Security of funds can be maintained, because your clients receive all payments directly, not through a third party such as a collection agency.
- Collection costs to the business are little or nothing. The cost of the system is partially or completely offset by the service fee added to collection accounts (paid by the customer). Business owners also save when they don’t have to have a staff person working to collect old, overdue bills.
Here’s how the ABS Profit Recovery System
provides recurring income to you.
You will charge a service fee – typically a small percentage of the money recovered, which business owners are glad to pay for money they probably would have written off.
Business owners are under tremendous pressure, squeezed by tight profit margins and bills of their own. You will be the hero when you can bring in money they thought was gone forever.
You collect money by simply following the system of mailings. There are no calls to make to customers.Request more information and learn more about this exciting income stream.
