Bad Debt Recovery ServicesAs a professional bad debt recovery and collection agency, Prestige Services has the tools and expertise you need to manage your delinquent accounts. The following is a list of just some of the benefits you will receive when you choose Prestige Services.
Our Debt Recovery Service Advantages:
Online access to claims: You may check the status of your claims anytime you wish via our website. Simply enter your name and password and our system will bring up an alphabetical listing of all your accounts. You may then click on each account and actually view our database debt collection notes. Our debt recover service allows you to check the status of your claims when it is convenient for you. Our nationwide credit and collection services are integrated with cutting edge technology.
10-day free demand service: If the debtor pays our office or your office within 10 days of placement, we do not take a fee on the claim. We do not feel that it is right to charge full fees on a claim that we have only had 10 days.
No debt collection, no fee: We only take a fee if we collect. If our debt recovery service fails, no fee. What better incentive is there for a debt collection agency to work your files. Collecting money is our bread and butter and we know that we need to collect accounts in order to profit. Our collection rates average 5% to 10% lower than other agencies. We also offer special discounted rates for volume or for accounts over $10,000.00.
Accounts Receivable Outsourcing / Pre-Collection Services: We also offer collection outsourcing to clients that have a volume of accounts and would like to reduce the size of their in-house staff by using our firm for accounts receivable management. In a 30-day period, we send out 1 letter and make 2 phone calls to your clients. We are extremely professional and courteous with your clients and understand that you want to retain them as customers. The benefits of the outsourcing debt collection service is that it truly does work and it can save you thousands of dollars in salary expenses including vacation, benefits and taxes. The cost for this service averages from $6.00 to $8.00 an account depending on the volume you have.
Free FINAL NOTICE forms: Our final notice forms are very effective and free for you to use. You may copy and use the Final Notice forms as often as you want at no charge. If the debtor does not respond to the Final Notice form, you can then place the account.
Professional skip-tracing: We are linked to the same database that is used by law enforcement and the FBI. We can find almost anyone in a matter of seconds and even obtain their date of birth, social security number and other vital information that helps us to locate the debtor. We perform skip-tracing on a daily basis on collection files that are placed with our firm and the costs are not passed onto you. It is simply the cost of doing business for our firm. In order to collect effectively, skip-tracing and investigations are always necessary.
Credit reports: We provide personal credit reports to our clients when they are dealing with a DBA, partnership or if you have a personal guarantee signed by the owner/officer. Ultimately, in these situations, the owner of the business will be personally responsible and it is their PERSONAL credit report that you should obtain. The cost for the reports are $8.00.
Attorney forwarding: If the debtor continues to ignore all our collection efforts, the claim is forwarded to our attorney in the debtor's area. This is effective since the attorney is right in the debtor's "backyard". All our attorneys are members of the Commercial Law League of America (CLLA) and are fully licensed and bonded. We have had experience with these attorneys for 15 years and know which attorneys are the absolute best for a given situation.
Credit bureau reporting: We report your claims to the credit bureaus. If the claim is against a corporation, we report the debt on the business' credit report. If the debt is against an individual, we report the debt on their personal credit report.
For more information about our bad debt management process, please select “What we do” from the menu at the top of this page.