Welcome to Collateral Actions, we are a licensed collection agency but we are not your typical collection agency. What makes us different? We specialize in Nationwide Collection Letter services. Our services save our clients time, money, infrastructure costs and the frustration that comes with setting up, running and tracking collection campaigns.
As businesses encounter customers who don’t pay their bills or who write checks that bounce they have a few choices. They can write off the loss, try to collect it themselves or hire a collection agency to do it for them. Writing off the loss is sometimes the first choice for most businesses because it is simple to do but it isn’t usually cost effective. Businesses and also collect past due accounts and debt on their own but that can be complicated, time consuming and expensive.
Hiring the typical collection agency is also expensive; with typical charges being between 25% and 50% of the amount the collection agency is able to collect as a fee for their efforts. For example, if a collection agency were to collect on a single $100.00 debt, your out of pocket costs (just for that one collection) would be in the range of $25.00 to $50.00. The exact percentage usually depends on the number of accounts you have, the size of the accounts and how old those accounts are. Although it sometimes becomes necessary to employ the services of an attorney and/or suing the debtor in court the preferred and most common collection strategy is to use a series of ‘debt collection letters’ that are sent to the debtor to encourage and give opportunity for payment of their debt.
Immediate collection efforts have been proven to be extremely important in a successful collections outcomes. Statistics show that failure to take quick action on overdue accounts or bad checks means you stand a much smaller chance of ever being able to collect on that money. Many small to medium sized businesses don’t have the resources necessary to accomplish this within their own organization. The cost in man hours, supplies, records keeping and tracking systems are just too expensive and burdensome. Their only alternative is often to either write off the debt or hire a collection agency. The latter is often a last resort and used only for dollar amounts that a business just can’t afford to write off.
Collateral Actions provides you a SOLUTION to that problem. We offer an affordable and automated system that provides the following:
- A simple, convenient and secure interface for you to use
- Real time monitoring and tracking where ever you are
- Systematically mails out a series of powerful collection letters
- Federal Debt Collections Practices Act (FDCPA) compliant
- All payments are made directly from your debtor to you
We call this system ‘Your Collection Department‘ To find out more about how simple it is to set up and how much time and money you can save just click on the link below and get started today. There are no contracts or long term commitments and you can scale and use the services as much or as little as you need.