FAQ
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, demographics and type of debt
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 subsequent 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! There are skips (cannot locate debtor), debtors who dispute the debt and debtors who are simply uncooperative.
What type of reporting do you offer?
American Agencies provides you with a system to manage your accounts on-line. Submit account, create reports, report payments, change status, and even check the status of each account, 24/7. You will find this report a significant asset not only as a complete, audit trail, but as a tool for analyzing your Accounts Receivable.
What if my debtor disputes the debt or simply refuses to pay?
If the debtor disputes the debt, American Agencies will provide them with verification of the debt, which typically consists of the documentation initially provided by the client. On occasion and depending on the dispute, American Agencies may have to request additional documentation from you, the client, in order to properly verify the debt. We report delinquent consumer credit information to the credit bureaus. We receive many payments each week from debtors trying to clean up their credit rating by paying off old debts.
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.
Does American Agencies alienate our Clients?
It is American Agencies goal to reestablish, when desired, positive communication between our clients and their customers, thus helping our clients retain their valued customer base. We don't adopt a "cookie cutter" approach to collections. We train our collectors on your company to assist them in the collection process.
What experience level does your staff of collectors possess?
The American Agencies Recovery Team is staffed with knowledgeable and experienced Recovery Agents. All of them highly professional, and most of them seasoned veterans of the collection industry, the average tenure of these devoted individuals is 4.76 years with American Agencies. 75% of the Recovery Team is bilingual, and their combined experience with American Agencies embodies an astounding 209 years.
What sets your firm apart from the many agencies out there?
With a state-of-the-art technological infrastructure, seasoned management and collection teams, customer-service oriented collections approach, and superior quality control and compliance programs, American Agencies is uniquely positioned to offer its clientele a fully customizable recovery solution which maximizes collection results while minimizing associated risks.
How long have you been in business?
Founded in 1969, American Agencies has a well established foundation as a leader in the collection industry for over
40 years. Having a diversified client base, licensing and authority across the United States, and a revenue growth rate in excess of 20%.
How do I become a client of American Agencies?
We have included our standard collections services agreements in Word format for your perusal and authorization. You may also contact our sales department at (866) 961-9600.
How do I get started?
We can have you up and going within 24 hours. Click Here and we will take if from there. A trained sales agent will contact you within 12 hours to get you going.
