WHY SHOULD I USE CREDIT SERVICE COMPANY FOR A COLLECTION AGENCY?
When you have not been promptly paid for a product or service you have provided, professional attention becomes necessary in order to recover the money justly owed to you. Credit Service Company possesses the skills and expertise required to maximize your return on past due receivables. This enables you to focus on generating new income, while we focus on collecting your past due accounts before they become uncollectible.
HOW DO I KNOW CREDIT SERVICE COMPANY IS CAPABLE OF HANDLING MY COLLECTIONS?
Credit Service Company is experienced in handling accounts of all sizes and providing the same level of service for our high-volume clients as for the client who turns a single account. We have the technological resources, market knowledge, and skill to successfully collect on your type of account.
HOW DO I KNOW CREDIT SERVICE COMPANY IS A QUALIFIED AGENCY?
Locally owned and operated since 1979, Credit Service Company has consistently proven our ability to provide professional, quality service. Licensed and bonded in the state of Arkansas, we are members in good standing of ACA International, networking us with over 3500 agencies nationwide; members of the Arkansas Collector's Association (one former Board President, and a former 2-term Board President.
Our employees receive ongoing training and development in the latest collection techniques, as well as FDCPA , CFPB, FCRA, TCPA, and HIPAA compliance training. (Fair Debt Collection Practices Act, Consumer Financial Protection Bureau, Fair Credit Reporting Act, Telephone Collection Practices Act, and Health Insurance Portability and Accountability Act, respectively.)
HOW MUCH DOES CREDIT SERVICE COMPANY CHARGE FOR COLLECTING DELINQUENT ACCOUNTS?
Each client is different, in terms of the condition of their past due receivables. Average balance, average age, total number of accounts, type of industry, and frequency of submission of accounts being turned over for collection are the primary factors we evaluate, in order to reach a fee structure. Our fees are contingent upon what we collect, so if we don't collect, you don't pay. There are no hidden fees, no surprises.
HOW DO I NOW I'M BEING CHARGED A FAIR RATE?
Take into account what you're actually hoping to receive. While you may initially want to look only at the commission rate, that by itself is not an accurate indicator. Commission rates can be outbid, but the key is the recovery rate, or net return. Also, consider the level of service you receive and the peace of mind in knowing that your business is being represented by a skilled agency operating at the highest professional standards. Compliance, customer service, security, professionalism, a fair rate, AND results, should all be considered when choosing a collection agency.
HOW DO I SUBMIT ACCOUNTS TO CREDIT SERVICE COMPANY FOR COLLECTION?
After an initial consultation and a Collection Agreement is reached, clients may choose their preferred method of account submission via CSV file; by using our secure portal; FTP transfer (when applicable); or other method of client choice. We work with each client to streamline the process and meet their specific needs. (Initially obtaining as much detailed information as possible from your customer and submitting it with the account greatly improves recovery.)
HOW WILL I KNOW THE STATUS OF MY ACCOUNTS AND THAT THEY ARE SECURE?
We employ the latest technology in collection techniques and practices, but in many ways we still do business the old fashioned way by providing hands-on service. Clients receive statements every month with account details, but are encouraged to pick up the phone and give us a call to find out the status of an account, or just ask a question, at any time. We want to hear from our clients and we still answer the phone ourselves. You will not be burdened, or frustrated, by unnecessary automation that wastes a lot of time. We are here to serve you. We offer "Service Above and Beyond Collections" and we mean it.
It may seem like two different issues, but the status of accounts and the security of accounts both could be compromised by online access. Sometimes services are offered that seem to be quicker and less of a hassle. But at what cost? Data breaches are nothing new and they are becoming both more frequent and more pervasive.
WHAT IF I HAVE ACCOUNTS CURRENTLY PLACED WITH ANOTHER AGENCY, BUT WANT TO START TURNING ACCOUNTS TO CREDIT SERVICE COMPANY FOR COLLECTION?
Mail a certified letter to the agency that is not performing to your satisfaction, informing them to close and return your accounts to you. Then you may submit these accounts to Credit Service Company for maximum recovery. Otherwise, if you have accounts ready to go to collection, but have not yet been placed with the other agency, you may turn those accounts to Credit Service Company immediately.
WHAT OTHER SERVICES DOES CREDIT SERVICE COMPANY OFFER?
Unlike many other agencies, Credit Service Company is unwavering in our commitment to recovering your bad debt and has not branched out into unrelated services. Collecting your bad debt and related functions is what we are trained to do. This is where our expertise lies and where our focus remains. Please see our SERVICES page for a list of our comprehensive collection services.
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