10 Questions Prior to Hiring Canadian Collection Agency
It is important to ask the right questions when trying to find a collection agency to partner with.
Below is a list of questions to consider with selecting an agency.
1. Is the agency licensed and bonded?
a. Yes. National Recovery Corp is a licensed and bonded agency. In addition, we also hold $2,000,000 in general liability insurance.
2. How much will this cost? What are the fees?
a. There are several factors that will affect the rate/price. For example, the age of the account, amount, whether or not it has previously been listed with an agency. Call NRC to speak with a business development specialist to find out how much assigning your account will cost. Please keep in mind that rate should not be the only deciding factor when selecting an agency to work with.
3. Do I have to sign a contract to get started?
a. No. NRC does not require you to sign a contract. In addition, there are no monthly/annual fees or membership dues. We only bill you for what we collect.
4. What type of clients do you currently work with?
a. NRC works with a multitude of clients in various different industries including: medical and healthcare, commercial and retail, leasing, construction and manufacturing, legal and accounting, landlord and tenant.
5. What is expected of me as a client?
a. NRC is looking for clients who want a long term business partnership. We are looking for clients to provide accurate information in a timely fashion, advise us when they receive payments and regular communications about updates should they become available.
6. How will you treat my customers?
a. We work as an extension of your AR team, so we act with your best interest in mind at all times. Additionally, we understand and value your brand name and reputation and our collection representatives will act in a professional and businesslike manner at all times.
7. How will I be informed of the progress on my account(s)?
a. NRC sends out monthly reports with the current status on all active accounts. Additionally, client acknowledgements go out when the account is listed and payment notifications when we apply a payment to the account.
8. How does the billing work when you collect the account?
a. NRC is one of the only agencies to offer semi-monthly billing. We issue invoices on the 15th of each month, and again at the end of the month. This allows us to get you your money quicker than most other agencies in order to help improve your cash flow.
9. What technologies do you use?
a. We are committed to using the latest state of the art technology including superior software, databases and equipment which allows us to effectively service each client, increase recoveries all while maintaining and upholding the security and privacy of our clients and their customers.
10. How do I get started?
a. Getting started is easy. We will get you to complete a one page agreement with your information (so we can set you up in our system) and a copy of an invoice/statement for the customer owing you money. Call our office and speak to a specialist today to get started!