Statistics provided by the Canadian Collectors Association show that referring unpaid debt to collection agencies early on in the game will garner the best results when it comes to collecting your money. In order to help maximize this return on your unpaid debts, the CECA goes at debt collection from a variety of angles within the first 48 hours after getting the delinquent account. Once your company contacts the CECA, a representative is given your case along with all of your pertinent information. They work to address any questions and oversee the operations of your case and how it is being handled. When it comes to outstanding debts, a trust is opened specifically for you and any open balance that is more than $100.00 is submitted to the credit bureau. This will leave a negative mark on the report and this can be damaging.
First contact made between the collector and the delinquent customer is done by letter. The CECA uses both national and international means of tracking down the delinquent customer and their skip tracing services help to uncover any information that has been elusive. This method is particularly important when a delinquent customer has moved and not provided any current information. By using all the new and advanced technological means of tracking and tracing, the CECA can get a customer’s real and current information and this can help to secure the money owed and help in case any legal action needs to be taken.
The collection software used by the CECA is integrated fully with advanced telephone systems which serve as a supplement to the staff; giving them the necessary information to get in contact with elusive customers. Their dialing capabilities are automated for both inbound and outbound calls so customers can be interacted with on a daily basis. This allows them to make instant payments no matter what time of day it is. The CECA also offers legal representation if needed and have a plethora of experienced network of attorneys.
Through the entire process, reports are meticulously kept in order to confirm information on all delinquent accounts. This helps to keep track of all information and accounts with ease. Plus, the CECA provides valuable information on placement confirmation and payment verification. Once collection has been achieved, all money is deposited into a trust account and is remitted on a month to month basis.