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How
to read BCA’s Monthly Collection Statement Your monthly collection statement combines both the DIRECT PAYMENTS (payments made to your
office) and the TRUST PAYMENTS (payments made to our office). All payments taken together represent
the “Grand Total Collected” on the recap sheet (the page with your name and address on it). Near the middle of the page it lists
“Total Paid Agency”-money paid to BCA (Let’s say, for the example below, the
“Total Paid Agency” for the sample month was $1700.00) Near the bottom of the page is the following recap: Example:
Grand Total Collected:………………………………….3022.46
Grand Total Commissions Due Agency: ……………… 997.41
Grand Total Amount Due Client………………………2025.05
Check
Enclosed for……………….………………….. ..702.59 We take the total
commissions due Agency from the money we’re holding in our trust account that month ($1700.00) and remit the balance.
So, holding
1700.00 less 997.41 = 702.59. Some months there will not be a combined direct and trust payments. In that case it will
either be a “Please Remit” (if all money went to your office) or a “Check Enclosed” (if all money
went to us). If you have any questions, please call our office anytime. Thank you.
BCA
Financial Services Presents:
Quality Links This page will
be updated from time to time with links that BCA has judged as quality companies and/or their websites. "MBAC" or Medical Billing Accreditation Consultants. They're located in the Northern New Jersey town of South Orange. Their specialty is
medical billing--an extremely difficult profession. Doctors' offices and other medical providers find their
services worthwhile not just because they solve the paperwork problem, but they can successfully navigate the insurance maze
to secure payments. A recent visit to their offices showed an industrious, diligent and knowledgable staff busy
solving the payment problems of their medical clients. They came upon us (BCA Financial Services) only for the stubborn
"collection" accounts which only amount to a small fraction of their business. Call Liza
or Cary at 973-275-1860. They're hard at work for their clients at least 6 days a week! OR...if
you'd like, just call or write BCA Financial Services (John Debold - 973-429-7616). I have a limited amount of
their brochures. I'll gladly send you one. | SportsCare of America : is the Physical Therapy Provider (In
Nutley, NJ) that Dr. Raffaele Lagonigro, DPT, is now employed. SportsCare is
the official provider of Physical Therapy to the New Jersey Nets (Basketball) and the Newark Bears (Baseball). Dr. Lagonigro has been in Physical Therapy for more than 5 years, but has recently
received his Doctorate in Physical Therapy (DPT) from New Jersey's University of Medicine and Dentistry. Please give Dr. Lagonigro a call at 973-562-0080 for more information. He's
at 123 Franklin Avenue Nutley, NJ BCA Financial Services
recommends Dr. Lagonigro, a very dedicated professional.
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Try a visit
to the "Collection" Blog that BCA Financial Services maintains and you'll find a great new New Jersey restaurant
called JP's Steakhouse. Read the BLOG on JP's Steakhouse.
Read the June 20, 2008 (Courier News) Newspaper Article on Owner John Pettoni
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| John Pettoni's Steakhouse Manville New Jersey |
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Frequently
Asked Collection Questions:
Q:
Does BCA Have a Contract?
A: No, You list claims with BCA and if you are ever unhappy
with our service you can withdraw the account, or all of the accounts you have with BCA.
Q:What
is your success rate?
A: BCA collects about half of all claims it lists. The national
average is about 20%
Q: How do you go about collecting?
A: By practicing
the consumer's federal law to the letter, with our own sense of decency and a appeal to the debtor's sense of
fair play.
Q: How much do you charge?
A: Our rates are standard to the
industry. Somewhere between 25-33% of any amount collected.
See our rates page. Click HERE
Q: Do you list debtors on the Credit Bureau?
A: Yes, but not disputes or accounts under the credit bureau's minimum.
Q:
Whay about Court?, do you sue if they don't pay?
A; Yes, but only with your permission
and your check for the districts' court costs (which is added to the debtor's obligation)
Q: Do you
collect bad checks?
A: Yes, but they're treated similiar to a normal collection account.
Q: Can you (or we) charge interest?
A: Yes, You or we can. Providing you've
infomed your customer of this at the outset.
Q: Can you (or we) add your collection fees?
A: Yes. Same as above. You must have spelled ot out when the transaction began.
Q: Business debt. Can you get them personally.
A: Sometimes. If they are not incorporated
(proprietorship or partnership) or you had them sign a "personal guarantee" at the outset.
Q: What
about corporations?
A: Yes, but be careful, they're just a piece of paper sometimes.
Q: WHEN should I turn over a collection account to you.
A: Think about
it. Three months, three billings, no response, no payment, no returned calls. It's your call but the rule of thumb is
90 days to 150 days.
Q: What if I turn over a collection to you and they pay me?
A: You are still responsible for our fee. In fact, if a debtor insists on paying you, we won't stop them. Our only goal
is to get the money over to your side of the table.
Q: Do I need to give you a Social Security Number?
A: It really helps, but is not mandatory.
Q: How long do you take to collect?
A: One claim, which we obtained a Judgment, we recovered 12 years later when debtor liquidated
his only asset, his home.
Normally, we should have answers on 60 days or much less.
Q: What if I never
get paid from my debtor?
A: All business carries some risk. We will all take some unavoidable
losses. Your accountant will guide you through the loss process.
Q: Do you handle all businesses?
A: Yes, however we don't handle gambling debts, real estate.
Q: What is the
Statute of Limitations on debts?
A: New Jersey: 6 years. New York: 6 years Pennsylvania
4 years (Community Associations: 3 Years
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