Recovering written-off accounts is your key to increased profits.
Don't wait until you have a serious problem. The best way to protect your
profits is the early identification and referral of doubtful accounts. The
longer you wait to refer the account, the less likely the account will be
collected. Statistically, the likelihood of collection after a debt has aged to
more than 150 days past due is less than 10%!
Therefore, when accounts have aged to a severely delinquent or written-off status, timing is of the essence: Contact with the debtor must be made immediately, and this requires an intense investigative and follow-up strategy.
When contact is made, we employ our high-impact communication techniques, informing the debtor of the next steps that will be taken, including legal action, in the event of continued non-payment. We ask fact-finding questions that help us determine the debtor's willingness and ability to pay, as well as the factor(s) that will likely motivate him or her to pay.
Remember, all debtors have a hierarchy of payment priorities. We find the best way to elevate the priority of your advertising debt.
Media Receivable Management's associates contact debtors by telephone and through personalized written communication via e-mail, mail and fax. In addition, our associates often travel to debtor businesses for face-to-face contact. We find this to be extremely effective in account resolution, as well as one of the services that truly set us apart from other collection agencies.
All accounts in this category are taken on contingency, so if we do not collect, you do not pay a fee. Our sliding-scale contingency fees are highly competitive, and we consistently get results on accounts that other agencies have been unable to collect.