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| Personalized Collection Solutions COMMERCIAL AND CONSUMER DEBT RECOVERY |
| Aggressive. Effective. Ethical. |
| What happens when you place an account for collections? Correspondence from a collection agency expresses a sense of urgency to the debtor. It shows that you are serious about being paid what you have earned for goods or services already received by the debtor. We begin collection activity as soon as you place the account with us. Our first step is to send a letter to the debtor to advise their account has been placed with Personalized Collection Solutions, LLC (PCS). We are required by state and federal law to inform the debtor of their rights and to notify them of certain information pertaining to their debt. With our letter we include: the name of the creditor and the amount due. We also must let them know they have 30 days from the date of the letter to dispute the claim and/or request verification of the debt. After the initial letter, additional collection strategies will be employed as necessary. This may include, but is not limited to, sending further letters, phone calls, asset searches, credit reporting, and litigation. We continuously review each account to ensure we are utilizing the most effective collection methods. We proceed in a manner that complies with federal and state laws and provides the best opportunity to get the debt paid. Once you place an account with PCS, will we take care of your account for you. If the debtor attempts to contact you in regards to this debt, please refer the debtor to PCS and advise us you have received direct contact from the debtor. For further information and/or to place an account with us, please contact us at: (877) 716-7394, ext. 5 |
When should you place an account for collections?
You should place an account for collections with PCS when a customer:
The longer you wait to place an account with PCS, the less likely you will be able to collect what you
are owed.
Signs a debtor might be a credit risk:
You should place an account for collections with PCS when a customer:
- Does not respond to your invoices.
- Violates terms of the payment agreement.
- Makes complaints against your company that are not valid.
- Claims they are not responsible for the debt.
- Moves without providing you with forwarding information.
- Fails to keep in contact with you regarding payment.
- Habitually pays their debt slowly or late.
- Disregards your phone calls and letters.
- Is rude and refuses to work with you.
- Makes different excuses every time you call.
The longer you wait to place an account with PCS, the less likely you will be able to collect what you
are owed.
Signs a debtor might be a credit risk:
- They bounce checks.
- Their mail is returned.
- Their phone is no longer in service.
- They have left no forwarding address or phone number.
- They are constantly unavailable or avoid your attempts to contact them.
- They are facing cash flow problems or are losing money.
- They are experiencing explosive or unusual growth.
- They have exceedingly high indebtedness.
What information should you give to PCS to assist in collecting a debt?
The basic information you need to provide to PCS about a debtor includes:
you may have available on the debtor.
Additional information that is helpful in collecting debt:
The basic information you need to provide to PCS about a debtor includes:
- Debtor Name
- Amount of debt
- Date debt incurred
- Last known phone number and address
- Information that validates the debt. This can include credit applications, cancelled or
you may have available on the debtor.
Additional information that is helpful in collecting debt:
- Social Security Number
- Spouse Name
- Work name/address/phone number
| Copyright 2008 and 2009 Personalized Collection Solutions. All rights reserved. |