Our 3 Step Process
Our
complete suite of recovery services consist of 3 Steps in order to help
expedite a positive outcome of recovering your past due accounts. We don't
believe that stretching out the process makes sense when most past due accounts
are most likely to go unpaid as they get older, and most debtors are likely to
move, change jobs or completely skip on the entire past due account balance. We
believe that swift action is best!
Step
1:
No Recovery/No Fee
Process:
Recovery
Fee: 23% - 28% Consumer/Healthcare & 25% - 30% Commercial
Business
Within
the first 5 days of referring an account, the following takes place:
-
Your account is immediately assigned to a Consumer Accounts Specialist.
-
All the information you have provided is verified for accuracy and current status.
-
Your account information is entered into the database.
-
The first of five monthly letters is mailed and a 3 day follow up call is scheduled.
-
Regular calls are made to recover payment or schedule regular automatic payments.
If all attempts to
reach a conclusion to the account fail, we will request your consent to move on
to Step 2 by placing your past due account with our affiliated attorney for
Pre-Litigation Legal Collection Services. Upon your consent, as a Client, you
will be responsible for the pre-payment of this fee. Accounts will not be placed
for this service without prior consent and required pre-paid fee. Upon Consent
and receipt of the fee, a final 30 day letter of intent will be mailed. The
pre-paid Pre-Litigation fee will be fully refunded if the past due account is
paid within the 30 day time frame indicated on the
letter.
Pre-Litigation Legal Collection Service:
Recovery Fee: 35% - 40% Pre-Litigation/Judgment/Garnishment
After consent to move to this step, the following takes place:
-
-
The Pre-Litigation Service will immediately begin attempts to make phone contact.
If all attempts to
reach a conclusion to the account continue to fail, we will request your consent
to move on to Step 3 by placing your past due account with our affiliated
attorney for Legal Collection Services. Upon your consent, as a Client, you will
be responsible for the pre-payment of this fee, which covers the filing fees and
court costs. Past due accounts will not be placed for this service without prior
consent and pre-paid fee. The pre-paid fee, when awarded, will be fully refunded
upon recovery and exempt from contingency fees.
Step 3:
Full Legal Collection Service:
Recovery Fee: 35% -
40% Pre-Litigation/Judgment/Garnishment
After consent to move
to this step, the following takes place:
-
Our Legal Collection Service will mail a final notice letter of intent to file for judgment.
If payment is still not
received, our Legal Collection Servic will file for judgment in the court.
Once judgment has been
awarded, our Legal Collection Service will attempt to collect.
If payment is still not
received, our Legal Collection Service will attempt garnishment and/or
lien.
When full payment of the awarded judgment amount is received, the pre-paid Legal Collection Service fee portion is fully refunded to the Client.
We
can also include a free pre-collection letter if you choose this service with
automatic placement for our No Recovery/No Fee services. This 30 Day Letter
instructs your debtor make payment direct to your business to avoid placement
with an outside agency. If you receive full payment on your past due account
within that 30 Day time frame, there will be no recovery fee charge to you. If
you don't receive full payment on your past due account within that 30 Day time
frame, it's automatically placed into our No Recovery/No Fee process. Accounts
must be less than 60 Days past due to qualify for this service.
You've made the right choice when
you choose ACE Debt Recovery!