Debt management is a crucial aspect of running a successful business. Just as it's vital to avoid excessive debt, actively collecting your own outstanding debts is equally important. Despite increased purchasing power, consumer debt and delinquency rates continue to rise globally, with personal debts reaching record levels.
As a business, you understand the necessity of maintaining steady cash flow and minimizing bad debts.
At SkillSource we share your commitment to these goals. Our expertise lies in both live and automated collections services designed to remind customers of overdue payments, recover unpaid debts, and send notifications through our interactive voice response (IVR) system. By partnering with us, you can reduce payment delinquencies, enhance customer engagement, and effectively recover debts to improve your Days Sales Outstanding (DSO).
Service Offerings:
- Cure Programs and Early-Stage Collections: We offer support for newly delinquent accounts, providing debtors the chance to self-cure and redeem their standing.
- Pre-Charge Off Collections: We focus on accounts nearing six months past due, aiming to recover debts before they escalate.
- Collections for Accounts Marked as ‘Bad Debt’: We assist in recovering debts classified as bad debt, working to improve your financial standing.
- Management Information Systems (MIS) and Reporting Services: Our comprehensive reporting services keep you informed on your collections performance and account statuses. Access detailed reports and insights into the performance of your collections, helping you make informed decisions.
Our collections services include a thorough evaluation of an individual’s or company’s ability to repay, negotiating repayment plans, securing current payments or commitments, and referring problematic cases for collection litigation.
Our collections agents are seasoned professionals, trained in negotiation skills, client profiling, and effectively handling difficult customers by interpreting verbal cues.
We recognize the importance of representing our clients with integrity during collections. That’s why we ensure that our experienced and professionally trained staff comply with Federal Trade Commission (FTC) regulations and the Fair Debt Collection Practices Act (FDCPA).
At SkillSource we have a proven track record in debt recovery and can assist you with improving your accounts receivables. Partnering with us for your collections outsourcing means you can enhance recovery rates while reducing the burden on your internal resources. Let us help you turn overdue accounts into revenue!