Frequently Asked Questions
Do I really need collections service?
Most business owners should use collections services if their clients either fail to pay, refuse to pay or otherwise do not remit for services rendered or products sold. Professional collections service is a hallmark of best-practice business strategy; entrusting your past-due receivables to a third party ensures legal compliance, constant recovery effort, preserving your relationship with your client and timely remittances for payments received. Time is of the essence, the longer you wait for them to make good on their responsibility is valuable time wasted and in many cases, more of your money lost.
What if my customer promises to pay me?
In the past, important deals of all types could be made on a handshake and a promise. These days, with more than 3,320,977 small businesses in the state of California alone it is hard to develop personal relationships with every client and vendor your business may require. At Effective Debt Recovery a promise is only as good as the check it is printed on. You can trust our agents to ensure payments are received before extending goodwill and leniency to your customers.
How do I know I will get good service?
We guarantee it! Aside from pre-entry account confirmation and data verification, we send Account Status Updates by fax or e-mail every month to keep you "in the loop". We are also available from 9am-5pm (MST) Monday-Friday to answer your questions by phone. Once your account has passed a specific time horizon we will contact you directly to find out how you want to proceed with your claim: legal action, continued collections or account closure. Finally, if we don't recover your funds your account placement costs nothing; if you don't get paid, we don't get paid!
What if I already have a collections service?
More Business Owners, property managers, property lessors and professionals choose EDR over any alternate collections service for these reasons:
- No up-front costs.
- No costs for unsuccessful accounts.
- Low and simple collection rates.
- Discounts available to Boulder & Denver Chambers of Commerce, Executive Legal Services, and Lawyer's Assurance Group of America Members.
Most collection agencies will also charge submission fees and higher percentages upon successful recovery.
If your current agency has been unable to recover your receivables contact EDR and see why so many satisfied clients call us first.
*When attorney involvement becomes necessary, fees may increase out of necessity of the situation.