How is Media Receivable Management different from all the other collection agencies?
We’re different in a number of ways. First, we’re specialists in media-related collections, so we’re familiar with the myriad nuances of recovering this type of debt. We speak the same language as your debtors. We’re experienced with the objections/reasons for non-payment that are unique to your customers, and we are well versed in overcoming these objections. This experience enables us to effectively collect your debt or to negotiate a settlement (if, in fact, there was an error) most beneficial to you. Second, sometimes collecting the account requires supplementing phone calls and letters with a face-to-face meeting with the debtor. We do this on a regular basis. Third, we’re experienced in collecting debts for many different kinds of media--from print to digital--and from many different kinds and sizes of businesses. Fourth, our clients can refer and review the status of their accounts through our online collections system. Finally, we have successfully collected media-related debt in every part of the United States, as well as in virtually every country and territory in the Caribbean and throughout Mexico, Central and South America, and Europe. We are intimately familiar with the legal advantages and restrictions in debt collection in all of these areas, and we put that experience to work every day.
I’m happy with the collection agency I use. Why would I want to change?
Collection agencies, like most service businesses, perform better when they know they’re competing for your business every day. If you’re happy with the collection agency you currently use, keep using them. But it’s a good idea to incentivize them through competition. Refer a portion of your accounts to Media Receivable Management, then see how we compare. Allocate future referrals based on the results each agency gets for you. We’re not afraid of competition!
At what stage should I turn accounts over to a collection agency?
If your debtor hasn’t made any payment arrangements, or has broken promises to pay, it’s probably time to consider referring the account to a collection agency. The longer you wait to refer the account, the less likely the account will be collected. Most of our clients refer their accounts to us between 90 and 120 days.
I have some accounts that I think may have gone out of business. Should I turn those accounts over for collection?
Generally, if you don’t have a good point of contact with your debtor (disconnected phone numbers, e-mails bounce back, mail is returned), they probably are out of business. Companies that are doing business make it easy for the public to contact them! It doesn’t, in fact, make sense to refer the accounts to us--or to any collection agency or attorney for that matter. Once a business ceases operations there really is nothing anyone can do, unless you have personal guarantees from the businesses’ principals with contact information for them separate from the business--home address, social security number, etc. As frustrating as it may be, in the absence of this information the account should be closed and written off.
Shouldn’t I just refer my bad debt accounts to an attorney?
Generally, attorneys charge more than we do to collect your accounts. Remember, our collection service is on contingency, so there is no fee if we do not collect the account. And most accounts don’t need legal action in order to be collected.
How secure can I be in using your services?
Media Receivable Management is a licensed, bonded and insured commercial collection agency. We employ only the most ethical business practices. We have an impeccable reputation and record of fair dealing. We also can provide you with a list of references.
What do I do next to take advantage of your services?
Simply call us at (646) 478-8580 to get started. You will have direct contact with a member of our management team, and we’ll be happy to discuss your needs and how we can best assist you in improving your collection results. We make the process of turning over your accounts for collection as easy and efficient as possible.