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MaxCollect
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A Pro-active A/R recovery system that delivers critical capabilities:
- A state-of-the-art mailing system for communicating with your debtors
- Effective, properly written collection letters sent on your letterhead
- The impact of nonpayment leading to real consequences –
Attorney action and the Credit Bureau reporting –
presented in a series of increasingly emphatic collection demands
- An efficient interface for coordinating collection efforts with your Attorney
- Compelling actions by your Attorney – a series of collection
contacts and legal steps taken on your behalf
All simply managed through the MoneyQuest website, giving you real-time
status information and progress reports.
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How it Works
At the crucial point in time when you have lost dialog with your debtors, usually between 60 and 90 days, Immediate action will produce Maximun COLLECTions:
- Send your debtor data to us, in any format you prefer, or via data transmission; and, soon, thru the internet.
- We create your database, add $10 to $25 (at your option), to the account balance, and mail a series of courteous, but very effective debtor collection demands to the debtor on your own letterhead. Your letters now have the added impact of the attorney, the credit bureau and the agency threat motivating more people to pay.
- If the account is still unpaid 2 weeks after the fourth contact, we will transmit it to your retained attorney, who will, in turn, mail a series of stronger, increasingly demanding contacts on their attorney letterhead, plus make a series of courteous but effective, phone calls, on balances of $100 or more, and, if you wish, and if the attorney deems it feasible, proceed with litigation.
- Your letters instruct the debtor to send payment to your collection address throughout the process; so you directly receive all monies paid.
- Upon resolution of the account, MoneyQuest will, at your option, mail a "thank you" notice to your debtor on your letterhead.
- If the account remains unpaid, MoneyQuest will, at your option, transmit the debtor data to one or more of three National Credit Reporting Bureaus.
- Each month you will receive a detailed Account Inventory Report indicating all activity to date on all accounts submitted to the System. At any time, you will be given access to our WEBSITE where you will receive a detailed Status Report and Summary indicating all activity to date on all accounts submitted to the System.
- Our client service staff will call you each month, to ensure your satisfaction.
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Benefits
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- Increased Cash flow because your collection demand is intensified and applied sooner, using more powerful tools than an agency.
- Increased Recovery because every possible legal alternative is communicated to the debtor while the account is still collectable.
- Security of funds will be maintained, because you receive all payments.
- Collection cost will be little or nothing, since the additional service fee added to the account (paid to you), and the savings in internal expense, offset most or all of the cost of the System.
The unique MaxCollect A/R System is Hands free--cost free.
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Results
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Our clients have observed the following performance:
- OVERALL RECOVERY TO DATE: 41%
- COST: as little as 5% – not counting internal savings
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