When a client assigns a consumer account to Credit Management Group a graduated Four Phase process begins. The process continues until the account has been reconciled.
Credit Management Group’s systems comprehensively handles all aspects of Accounts Receivable management. We have a proven record of outstanding results. Our four phase process provides an incremental management approach. Every account is carefully monitored to prevent obligations from becoming stale “problem debt.” Our first steps are designed to open a forum for your customers or clients to resolve their outstanding obligations directly with you. In our initial phases all verbal communications with your customers or clients are made by your company.
Initial A/R Management
Enhanced A/R Management
CMG Systems, LLC
Phase 1 Details
During Phase One all payments will be made directly to you. This phase begins with a first-class mailing or electronic communication (if authorized) of a carefully worded past due reminder letter that we generate. The initial reminder is addressed from your office. It reconfirms the debt, invoice number and requests that payment be made directly to you. The first notice is followed by a telephone communications through a recorded message confirming receipt of the initial correspondence. Should the debtor disregard the initial two (2) contacts, a second reminder will be generated and followed up by another recorded call. In the event that no payment has been made after these initial four (4) contacts, a final notice will be mailed to the debtor stating the account will be forwarded to CMG Systems LLC. Whenever a remittance is made, your client will be removed from the process and all contact from us will cease.
Phase 2 Details
Phase Two consists of a series of three (3) assignment letters mailed first-class to your debtor from CMG Systems LLC. Our professionally designed notices reconfirm the debt and emphasize that the obligation will be pursued. All notifications sent from us during Phase Two request your customer or client to send their remittance directly to your company or to contact your office to make payment arrangements.
The largest expense any company has is its customer acquisition. Our Phase Two notices are designed to retain your customers or clients by keeping the door for communication open and preserving your professional relationship for future business. Phase Two is a tolerant approach geared toward resolving a past due balance. Again, whenever remittance is made your customer or client will be removed from our process and all contact will cease.
Phase 3 Details
In Phase Three we handle all aspects of the debt resolution. Your company continues to be relieved of the time-consuming task of recovering delinquent receivables from stubborn customer or clients. All correspondence and communications from CMG Systems, LLC direct customers or clients to send payment to our office or to contact us regarding resolution of the debt. All communications with your customers or clients are courteous and fully compliant with the federal and state laws governing consumer resolution practices. Phase Three is designed to be a short-term process with rapid results. We will not prolong the process and allow debts to become “stale.” In appropriate cases non-compliant customers or clients will be promptly referred for legal action. Phase Three intervention relieves your company of the need for any direct contact with the delinquent customer or client.
Phase 4 Details
We have a team of skilled referral attorneys who handle consumer debt collection litigation on a contingent fee basis. Our goal is to quickly identify nonpaying debtors and to put their cases into the hands of the attorneys as soon it becomes clear that our pre-litigation collection process will be unsuccessful.
Your Accounts Receivable Is A Valuable Asset That Should Not Lay Dormant.