Debt Recovery Service

A NEW Service of your SouthWestern Association!   

Your SouthWestern Association has partnered with Recovery Concepts, Inc. (RCI) to assist members with debt collection. RCI collects accounts on a contingency basis – they will charge a percentage of the amount collected for their services. That fee is reduced for members of SouthWestern Association. Since they work on contingency, if the debt is not collected, there’s no charge.

 

Recovery Concepts is experienced in the collection of agricultural accounts (primarily collecting from farmers and ranchers) and heavy equipment accounts (primarily collecting from contractors and builders). This service was recommended by members who have already benefited from working with them, and the program has been reviewed and approved by the SouthWestern Association Board of Directors.

 

Recovery Concepts, Inc. offers a professional approach to debt collection that is professional, persuasive and principled. Often, the fundamentals of collecting delinquent debt are overlooked. Recovery Concepts stresses those fundamentals, providing clients with increased cash flow. RCI understands the strain of a credit and collection department, charged with changing priorities to meet daily needs.

 

At RCI, they have only one priority: Collecting accounts as quickly and professionally as possible. RCI recruits only the cream of the collection industry, insuring unsurpassed integrity. Clients that use RCI’s services know that their corporate image will be maintained. RCI earns the trust of their clients not just by servicing their needs, but also by building lasting relationships.

 

Commercial Debt Recovery

 

RCI responds to a client’s claim immediately and within 24 hours:

 

• Each account is set up in their automated system and sent to the collection floor within one hour (small batch), to a maximum of 24 hours (very large batch).

• An acknowledgement is sent to the client and an initial demand letter sent to the debtor.

• RCI conducts an asset search and credit review on all guarantors. If account is corporate debt and there is no personal guarantee, state corporate charter information is immediately pursued. A skilled collection professional takes over and makes contact with the debtor, asking for payment in full.

 

RCI’s internal guidelines require contact on each account on the first day. RCI works all files in a “tier” system:

 

• Tier 1 works the account for the first two weeks; if no commitment to pay is made or kept, it is forwarded to a Tier 2 collector.

 

• The Tier 2 collectors work the file for resolution in a manner that is firmer and more forceful, but also professional, persuasive and principled.

 

• The Tier 3 collectors work all accounts that are set up on a monthly payment plan and also aid in skip tracing.

 

Pre-Legal

 

The pre-legal program was developed to solve a problem that many clients have: The need to avoid costly and time-consuming litigation. As you know, you file a suit today and it will be months or even years before the account is resolved.

 

Before filing the suit, you transfer the account to RCI for a specified period of time – usually three weeks. The account goes to a team of their most experienced and aggressive collectors. They will employ every legal tactic to compel the debtor to pay. You get your money quickly, instead of waiting months or years.

 

If RCI can’t get the account resolved by the end of the three-week period, they can turn the account back to you with all of their discovery, including collector notes, or you can direct them to initiate suit for you.

 

There is NO charge since they did not resolve the account for you.

 

RCI aims to work closely with you, aware of your image and as a natural extension of your own credit department. They enhance your existing resources and allow you to concentrate on the business of growing your own business.

 

Portfolio Outsourcing Services

 

Outsourcing Services is a separate division of Recovery Concepts, Inc. Your accounts are serviced in your name. There is a seamless transition where the accounts are worked at RCI, but your clients are not aware of that fact. When your clients call, there are dedicated phone lines answered in your name. Correspondence can be on your letterhead. Billing issues are resolved before the accounts become delinquent. Your customers are better serviced and more satisfied.

 

RCI has the expertise and technical capabilities to give your company a strategic tool that provides a competitive advantage.

 

RCI supplies the staff and support in a manner that is flexible to specific needs, whether batch placement or a single project. Outsourcing is a cost solution for these internal company issues:

 

• Reducing DSO

• Increasing Cash

• Acquisitions

• Downsizing

• Restructuring

• Seasonal Fluctuations

• System Conversions

• Merging of Receivables

• Inexperienced Staff

• Hiring Freeze

 

Contact Randy Plemons or Sabrina Brackett

Recovery Concepts, Inc.

1925 E. Beltline Road, #510

Carrollton, TX 75006

800-931-9638 ext. 244

Or 972-478-7580

 

Click here to email Randy Plemons.