How Debt Collection Works
How Does A Collection Agency Get Your Account?
A consumer transaction takes place;
After the good or service has been provided to a consumer, for some reason payment is delinquent. The causes behind delinquent payments are many, from an accidental bounced/NSF check, a misfiled insurance claim, to a consumer just not having the money.
When the service provider opened their business, their intent was to provide a good or service and get paid for that good or service with a reasonable profit. In many cases, that business doesn’t have the resources to employ an ‘accounts recovery division’ to try to recover money owed to them for goods or services they already provided to a patient or consumer. That is where First Recovery Solutions comes in.
FRS Approach to Debt Collection
We are a collection agency that provides a service to other business’s that just don’t have the resources to recover outstanding accounts payable. At First Recovery Solutions, we don’t ‘buy’ outstanding debt to collect. We offer a collection service, where we don’t get paid until we perform the actual recovery of a delinquent account for the business that hired us. We are like partners in that sense.
Our goal at First Recovery Solutions is to collect an account as efficiently and as professionally as possible. So if you talk to one of our collection professionals, they will ask you several questions. Questions about your address and phone number, date of birth and social security number, your place of employment or your spouse’s place of employment, are not uncommon. Not only do we need to verify that we have the correct party and location information to contact you, but we like to get a sense of your financial situation to determine the most efficient way to clear up a debt.
Our goal is not to be a collection ‘boogie man’ that many consumers have experienced before, it is to offer solutions to help you clear up your debt. When a bill is paid, everybody benefits, the business that provided the goods/services, and YOU, the consumer.
A consumer transaction takes place;
- At a store with a check, debit card, or credit card;
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- At a medical facility where a patient or guarantor is billed after an insurance company processes a claim;
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- A contract is created where both parties agree to service such as auto repair work, home appliance repair, or home maintenance repair (furnace/air conditioning);
-
After the good or service has been provided to a consumer, for some reason payment is delinquent. The causes behind delinquent payments are many, from an accidental bounced/NSF check, a misfiled insurance claim, to a consumer just not having the money.
When the service provider opened their business, their intent was to provide a good or service and get paid for that good or service with a reasonable profit. In many cases, that business doesn’t have the resources to employ an ‘accounts recovery division’ to try to recover money owed to them for goods or services they already provided to a patient or consumer. That is where First Recovery Solutions comes in.
FRS Approach to Debt Collection
We are a collection agency that provides a service to other business’s that just don’t have the resources to recover outstanding accounts payable. At First Recovery Solutions, we don’t ‘buy’ outstanding debt to collect. We offer a collection service, where we don’t get paid until we perform the actual recovery of a delinquent account for the business that hired us. We are like partners in that sense.
Our goal at First Recovery Solutions is to collect an account as efficiently and as professionally as possible. So if you talk to one of our collection professionals, they will ask you several questions. Questions about your address and phone number, date of birth and social security number, your place of employment or your spouse’s place of employment, are not uncommon. Not only do we need to verify that we have the correct party and location information to contact you, but we like to get a sense of your financial situation to determine the most efficient way to clear up a debt.
Our goal is not to be a collection ‘boogie man’ that many consumers have experienced before, it is to offer solutions to help you clear up your debt. When a bill is paid, everybody benefits, the business that provided the goods/services, and YOU, the consumer.
