Follow Us on FacebookFollow Us on TwitterFollow Us on Linkedin
 

Blog & News

Monopoly paid go

What Happens When You Hire a Debt Collection Agency?

Accounts receivables will soon be caught up! You have completed your research and have chosen the best possible collection agency to handle all those pesky A/Rs that are way behind. Now what?

Well, if the agency you have chosen is PRC, we’ll tell you! (We don’t know what happens with other agencies and cannot speak on those.)

First Steps

  1. Forms – Your PRC representative will begin speaking with you and filling out a few forms. These forms will help PRC’s departments properly set all wheels in motion for seamless onboarding.
  2. System – PRC’s IT team will set you up in our computer system and ensure accurate workflow and account handling.
  3. Accounting – PRC’s accounting team will begin setting up pertinent information about your remittance preferences and statement requests.
  4. Contact Info – PRC’s client service manager will ensure all proper contact information for your management team and administrative staff has been captured and documented.
  5. The Playbook – PRC’s training manager will begin creating a “playbook” for your accounts. This will ensure all our collection agents are trained, educated, and equipped to handle your accounts.

Getting You Paid
Those first steps all take place before we receive your accounts. Once your accounts arrive at PRC — via electronic or physical transmission — they are loaded into the system. Then we work to verify all the fields and run them through several “data treatments” to search out consumers with Bankruptcy filings, cell phone numbers, or bad names/addresses. For example, some consumers may be listed with incorrect dates of birth, putting them under the age of 18. When this happens we have to contact you to verify dates of birth or gather responsible party information.

These data treatments are run concurrently and only take an hour or so to process and then we letter your accounts.

After that, our team begins the real work: returning revenue to your business!

While it sounds too easy to be true, we prefer to think of it as just easy. Contact us today to learn more.