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Debtor
Information
When extending credit, (which is the same
as a loan), always request as much information as possible - on the chance that there is always the possibility
of default.
If nothing else, obtain your customer’s (or patient’s) Social Security Number …a
must.
Our skip-tracing sources: Experian Credit Bureau, etc. are the most accurate with the “Social” as it is known.
Direct Payments (Payments Made to YOUR office) While it’s our mutual goal to recover the losses on your delinquent
accounts, if your debtor makes a payment to you on an account that’s been placed with BCA, you may
want to consider the following: 1.
Will your acceptance of payment
compromise our ability to recover the correct balance? - Does the amount include any allowable fees, costs, etc?
- Has the account been placed with our attorneys for suit collection, thereby jeopardizing our ability
to effectively bring the case to satisfaction (and recover the court costs you expended)?
- If it’s a partial payment, did you make a copy of the check? If the person at your office accepting the check
is not yourself, did they note any language written on the check such as “paid in full”?
When in doubt on any debtor matter—Call BCA
973-429-7616
A Few Words Could Make a Big Difference:
When you deal with your customers,
patients, clients, etc, if you have a contract, make sure you add it to your “collection costs” language*.
If you don’t have a contract, per se, add it to your invoice or statement.
If it’s NOT there,
you don’t have a chance.
While not always enforceable, it gives you a big psychological edge—and sometimes
it will defray your costs spent to recover your loss.
It can be as simple as: “unpaid accounts will be subject
to all collection costs.”
BCA Financial Services For some great year-'round collection tips and
information, don't forget to click on BCA's "Collection Blog"
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