How You Can Get The Best Collection Rates?
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You might be asking yourself: "How can you get the best collection rates?" There are
new most factors that going to determine collection fees. But generally, there are greatest scales
of economy when the value of account is higher and balances are larger. other factors include:
average age of the accounts, quality of information and demographics of your customer base.
With volume, you can get averages of recovery as opposed to a crap shoot on a few accounts.
With high balance accounts, the return is higher when the account is collected. However,
it's still a crap shoot if there are only a few accounts.
Labor cost if an over-head is invested. And if the accounts are not collected, the agency
loses money. The age of the accounts also play a factor as the older the account gets,
the less collectable it becomes. The less information you have, the less chance of recovery
because your chance life carried contact and identifying their ability to pay drops dramatically.
So, the higher the profitability the better the rate.
For more information, call Credit Consulting Services, Inc. (800) 679-6888
