Why Use A Collection Agency?

Collection Agency intervention can be more cost effective.  When debtors have ignored the creditor’s request for payment, many will pay when they finally realize you are serious in getting a third party involved in the collection process.  Experienced ethical collection professionals understand your needs and find payment solutions for the recovery of your accounts receivable.

 

What Are Your Collection Fees?

RCS works with our Clients on a contingency fee basis.  If we don’t collect your debt, you owe us nothing.  There are no upfront costs, monthly, annual or administrative fees.  We are paid only for results when we recover your money.  Our Collection Fees are competitive.  They are based on several different factors which include, e.g., the age of accounts, balances, types of debts and whether consumer or commercial accounts. 

 

Does RCS Have A Service Agreement?

Yes.  A Collection Services Agreement (CSA) outlining the Terms and Conditions is provided to our Clients for review as part of our onboarding process.

 

What Debts Can Be Placed For Collection?

We have a wide variety of experience in many industries from the entrepreneur to Fortune 500 companies.  For 45 years, RCS has met the challenge of creating new collection programs to fit many different client portfolio types and sizes to meet their respective requirements.

 

What Is The Time Period I Can Collect On A Debt?

The Statute of Limitations (S0L) varies from State to State.  Accounts with time barred debt where the SOL has expired are not acceptable for placement with RCS.  RCS is not responsible for those accounts referred to RCS where the SOL has expired, either at the time of placement or subsequent to placement.

 

How Do You Go About Collecting?

New business is processed within 24 hours of placement.  Simultaneously, the first notice is sent to the debtor.  All accounts are assigned to retail or commercial collectors within 48 hours.  The new account is scheduled for telephone contact or skip tracing. 

 

What is Skip Tracing?

Skip tracing is locating information and assets on individuals and businesses through various resources.  It is an important part of the collection process.

 

What Geographic Areas Do You Cover?

Our Corporate Offices are located in North Brunswick, New Jersey.  Since 1970, no matter what type of collection, or where your accounts are located, the RCS Network of collection specialists can provide you with effective and efficient collection services.

 

What Is The Time Frame For Recovery On My Delinquent Accounts?

Our goal is to convert your non-performing assets back into operating capital.  The collection and recovery time frame of receivables is an inexact science and varies on each account and Client type.  RCS provides a Client Percentage of Recovery Analysis Report that tracks and shows the percentage of recovery by month.  This report is a “motion picture” of performance on your business as it flows through our Agency.

 

What Percentage Can I Expect To Recover?
The amount that can be recovered is dependent upon many different factors, some of which you cannot control, e.g., customer’s financial ability to pay or where the debtor is located.  What most influences the ability to collect is the age of the account(s) when you refer them to collection.  The older the account, the less likely it is to be paid.  Our recommendation is that you send accounts when they are no more than 90 – 180 days past due.  The debtor information and supporting documentation provided when referring accounts to collection increases the likelihood of recovery (credit application, contract/agreement, ledger, itemized statements, account history, etc.).

 

Can RCS Handle An Account All The Way To Legal Action?

Yes, however we are not Attorneys and do not provide Legal advice.  Any legal proceedings or settlements are a result of your authorization.  Although RCS works closely with the Attorneys, the Attorney represents your Company and remains under your control and direction at all times.  RCS has developed a long standing network of Attorneys Nationwide in order to facilitate a suit.

 

When Do I Receive Your Collection Remittances?

Money collected on behalf of our Client is kept in a Bank Trust Account.  We remit to our Client the proceeds and an accounting of each monthly collection cycle by the 20th day of the following month for the preceding month’s collections.

 

Do You Have Any Requirements For The Client?

Yes.  Client agrees to cease all in-house collection efforts once Client’s accounts are referred to RCS.  Client agrees to provide, whenever requested to do so by RCS a written validation of debt.

 

What If A Debtor Makes A Direct Payment After I Have Placed The Account With You?

If Client receives direct payment(s) after placement of account(s) with RCS, it is imperative to report all direct payments, regardless of source of payment.  Client agrees to promptly notify RCS of such payments so that we can credit the debtor’s account(s) and update payment with the Credit Bureau(s), if applicable.  RCS shall receive its agreed fee for the direct payment(s).

 

What Kinds Of Customer Service Communications Will I Have With Your Agency?

RCS’ practice is not to use voice mail and messaging with our Clients or Debtors when they are contacting our Office.  Client calls are fielded and directed to the appropriate Department by the Receptionist.  Each member of our professional Staff is well trained in understanding your needs and finding solutions. 

 

What Reports Are Available To Me?

RCS uses Ontario Systems’ Flexible Automated Collection System (FACS), the most advanced collection system available. You are kept informed about the status of your accounts with comprehensive reports that include:

  • Account Placement Acknowledgement Report

  • Progress/Inventory Report

  • Month/Batch Analysis Report

  • Client Percentage Recovery by Month Report

  • Returned Account Report

  • Client Statement

 

Is Your Industry Regulated?

Compliance with Local, State and Federal Regulations is a top priority, e.g., The Fair Debt Collection Practices Act (FDCPA), Fair Credit Reporting Act (FCRA), the Health Insurance Portability and Accountability Act (HIPAA), the Gramm-Leach Bliley Act (GLBA) and the Consumer Financial Protection Bureau (CFPB).

 

What Are Your Agency Affiliations?

  • American Collectors Associations International (ACA)

  • New Jersey Association of Collection Agencies (NJACA)

  • Better Business Bureau (BBB) A+ Rating

  • Credit Bureau Subscriber to:  Experian, Equifax, TransUnion

 

What is SSAE-18 And How Does It Apply To Our Clients?

See our Resources Page for additional information.

 

How Do I Get A Free Quote?

Just click on the box below and fill out some basic information!

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