100% Net Back Collections (FREE Collection Service)
Rocky Mountain Credit strongly encourages its’ clients to
utilize a contractual agreement with their customer base that
includes a clause which obligates the customer to pay collection
charges in the event their account is assigned for collection.
This drastically increases the efficiency of our client’s
accounts receivable department as well as the collectability of
the assigned accounts. It does so by allowing the client to
assign problem accounts for collection much earlier in the
collection ageing cycle when the information is more timely and
accurate and therefore the collectability is higher. The
collection charges are assessed in addition to the assigned
balance and upon collection; the client receives back
100% of the
assigned balance. Since there is no charge to the client, there
is less question or concern for the client as to when and if to
turn an account over for collection. An internal deadline can be
set (i.e. 60 days delinquent) and adhered to for assigning the
account for collection without incurring any loss. This in turn,
increases the likelihood that the account will be collected,
with the overall effect on the client’s bottom line of reducing
annual charge offs.
Rocky Mountain Credit is glad to assist in the creation of
proper wording in the client’s contractual agreements and has
a sample available upon request.
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