Frequently Asked Questions

Frequently Asked Debt Collection Process Questions

What industries do your accounts receivable and debt collection services cover?

American Collection Systems provides accounts receivable and debt collection services across various industries. These include:

• Higher education institutions
• Healthcare providers
• Commercial and retail businesses
• Credit unions

ACS works with organizations of all sizes and industries, from small businesses in the B2B space to enterprise-level corporations.

How do you handle disputes from debtors?

ACS handles disputes from debtors with professionalism and care. Our team is trained to listen to debtors’ concerns and work towards amicable resolutions whenever possible. We believe in open communication and transparency throughout the dispute resolution process, ensuring that both parties are treated fairly and respectfully.

Can you provide an overview of your debt collection process?

ACS’s debt collection process is tailored to each client’s specific needs. It typically involves the following steps:

• Initial consultation and assessment of the debt portfolio
• Development of a custom collection strategy
• Implementation of the strategy, including communication with debtors
• Ongoing monitoring and analysis of results
• Continuous refinement of strategies as needed

What communication channels do you offer for clients to stay updated on debt collection efforts?

We understand the importance of transparency and communication in the debt collection process. That’s why ACS offers multiple communication channels for clients to stay informed, including in-person meetings, phone calls, emails, and secure client portals. Our dedicated client services team is also available to promptly address any questions or concerns.

How do you handle accounts that are difficult to locate or contact?

One of our specialties at ACS is handling hard-to-reach accounts. We use advanced skip-tracing techniques and proprietary databases to locate debtors efficiently. Our team is persistent yet respectful in our communication efforts, using various channels to reach debtors and facilitate debt recovery.

What are your fees and pricing structures?

ACS operates on a contingency fee basis, meaning our clients have no upfront costs. Our fees are based on an agreed-upon percentage of the recovered debt, so our interests align with yours. Plus, we never charge processing fees. Those fees are covered for you, demonstrating our commitment to providing cost-effective solutions for debt recovery.

What type of training do your collectors undergo?

Our collectors undergo extensive training so they’re well-equipped to handle debt collection effectively and ethically. All collectors are FDCPA-certified and undergo regular training to stay updated on industry best practices. We’ve partnered with Remote Scouts for specialized training programs, and our internal representatives receive additional education from internal managers and supervisors.

How do you ensure compliance with industry regulations and standards?

At ACS, compliance is of the utmost importance. We adhere to strict guidelines set forth by regulatory bodies like the Fair Debt Collection Practices Act (FDCPA), so all collection activities are conducted ethically and legally. Our team is trained to handle sensitive information with care and confidentiality, and we have robust internal processes to maintain compliance at all times.

How do you handle aged or delinquent accounts?

Aged or delinquent accounts require specialized attention, and we have the expertise to handle them effectively. The ACS team assesses aged accounts and develops strategies to maximize recovery. Whether it involves negotiation, legal action, or other tactics, we’re committed to finding the best solution for each case.

How do you stay updated on debt collection regulations and best practices?

Staying abreast of changes in debt collection regulations and best practices is crucial. At ACS, our dedicated compliance team monitors regulatory updates and industry trends. We also invest in ongoing training and professional development for our staff to keep them informed and compliant.

What sets American Collection Systems apart from other debt collection agencies?

At ACS, our commitment to excellence, transparency, and client satisfaction sets us apart. We combine 40+ years of experience with cutting-edge technology and personalized service to deliver results. Our proactive approach and custom strategies make us the partner of choice for businesses seeking effective debt collection solutions.