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
Phase One begins with the electronic mailing of individualized past-due reminders generated by us in your name and sent to your customer or client. These reminders reconfirm the debt, invoice number and request that payment be mailed directly to you.
During this phase Credit Management Group has no verbal contact with your customer or client. If necessary, a series of up to three additional past due reminders will be sent on a short cycle. In the event that no payment has been made after the initial four (4) contacts, a final notice will be sent to the client or customer in your name stating that the account will be forwarded to CMG Systems, LLC. Whenever remittance is made, your client or customer will be removed from our process and all contact will cease.
Phase 2 Details
Phase Two consist of a series of three (3) assignment notifications sent to your customer or client from CMG Systems, LLC. Our professionally designed notices request payment and emphasize the importance of the obligation. All notifications sent during Phase Two request the recipient to send payment directly to you or, in the alternative, ask the recipient to contact your company to make payment arrangements.
The largest expense that any company has is its customer acquisition. Our Phase Two notices are designed to retain your customers by providing an open platform encouraging communication directly with you and preserving your professional relationship. 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
Phase Three starts only after time has passed and your customer or client has disregarded all of the prior communications regarding the past due account. In Phase Three we handle all aspects of the debt resolution. Your company is relieved of the time-consuming task of recovering delinquent receivables from stubborn debtors. All correspondence and communications from CMG Systems, LLC direct your customer or client to send payment to our office or to contact CMG Systems, LLC to discuss resolution of the debt. All of our communications with your debtors are courteous and fully compliant with the state and federal laws governing debt resolution practices. Phase Three is designed to be a short-term process with rapid results. We will not prolong this process or allow any debt to become “stale.” Phase Three intervention relieves your company of the need for any direct contact with the delinquent customer or client.
Phase 4 Details
If appropriate, and with your prior authorization, your collection matter will be referred to a local attorney experienced at handling commercial debt collection and litigation on a predetermined contingent fee basis. Our goal is to quickly identify nonpaying customers and promptly assign your matter to an attorney when it becomes evident that it is necessary.
Your Accounts Receivable Is A Valuable Asset That Should Not Lay Dormant.