Despite healthy management of credit risk and accounts receivables, most companies experience difficulties with certain client accounts and eventually call on the services of the Access Collection Agency to collect delinquent accounts.
Clients who wish to mandate the debt recovery of certain accounts receivable pay no annual or monthly membership fees. Furthermore, Access Collection Agency absorbs the costs of opening and managing the file as well as the cost of investigations and skip tracing, so there is no cost in the event we do not collect.
All sums held in trust are remitted to our clients monthly. Included in our remittance is a progress report detailing the status of each file submitted along with a statistical report measuring our performance.
Our extensive experience in corporate credit investigations and the resulting tools at our disposal are other factors that, by facilitating the analysis of a creditor’s solvency, also allow us to achieve excellent performances in commercial debt recovery.
Assigning your files
You can send us your collection files by regular mail, fax, e-mail, Final Notices, through our Web Site or by any other electronic support means your prefer (diskette, compact disk, magnetic tape, electronic file transfer, EDI, etc.).
- Acknowledgement of receipt.
Mailed daily, this report confirms the exact name of the debtor, the amount assigned, your file number and ours. This type of report is not generated when assignments are sent to us electronically. - Closing notice.
This report identifies the file/s we have closed during the period indicated. It shows the reason each file was closed as well as the file’s closing balance. This type of report is also mailed on a daily basis. - The cheque, account statement and remittance frequency.
All sums held in trust are paid at a regular interval. On or about the 15th of the following month, a net remittance is sent with an account statement clearly identifying your file number, the debtor’s name, the type of monetary transaction, the payment amount, the collection-related commission and taxes. - Your file inventory.
An inventory of all the files assigned will or can (as most of our clients are on line) also be attached to our monthly remittance. This inventory indicates the debtor’s name, your file number, our file number, the date the file was opened, the amount initially assigned, the amount collected to date and the Agency’s overall performance, indicating our effectiveness. Please note that our inventory is unique in which it not only identifies the file’s status, but sub status of each of the files that appear there.
File reports to the various credit bureaus
Please note that we are able to post data to the concerned debtor’s credit entry (Access Credit and Equifax Canada).
The access to Access!
We addressed the most frequent criticisms of various collection agencies on the regional and national scene alike. They are:
- Too often, clients have to ask for copies of important documents such as acknowledgements of reception and file closing notices;
- The creditor has no control and little solid information on what exactly the collection agency is doing on a given file, which makes it hard to assess the quality of the agency’s performance;
- The inventory of files that creditors assign to collection agencies is not regularly updated and sent to them, and even when it is, the information is not informative enough;
- Monetary remittances are hit and miss;
- Creditors have limited information when they authorize legal proceedings against the debtor.
For all of these reasons and more, so you can really assess the quality of our collection services and results, we offer you access to the files you assign to us anytime during regular business hours, simply by giving you a user code and a password which lets you access the member section of our website.
The following parameters are available during the consultation:
- The complete inventory of files you assigned to us, indicating: the debtor’s name, your file number, our file number, the date the file was opened, the initial amount assigned, the amount recovered to date, the status and sub status of the file and the Agency’s overall performance to date. This gives you a clear picture of how effective we are on your behalf.
And for each specific file, you will find:
- The debtor’s contact information;
- “A real time” activity log;
- The file’s status and sub status;
- File-specific accounting;
- Written notices sent to the debtor and the client creditor (in PDF format)
You are obviously welcome to print out this information any time you choose.
This course of action allows our clientele to optimize file handling, facilitate their control and enjoy unprecedented access to the information they need.
The Final Notice on our Internet site
Most of our clients use our Internet site to assign us collection mandates with the help of the collection forms (commercial, consumer, and disaster debt collection claim form - Insurance Co).
However, it is also possible to use our Internet portal for commercial Final Notices.
By logging onto our web site with your user code and password, you will notice a link that exists for this tool: Commercial Final Notice Form.
When you click on this link, you will have access to a Final Notice Summary. The following parameters are described as the following:
- The Final Notice # you have created
- Your numeric reference
- The name of the commercial debtor
- The date the document was created
- The amount implied
- The status (in transit, received, settled)
- Our numeric reference
You will also find at the bottom of the Final Notice Summary all the statistics permitting you to evaluate the relevance of such a tool more precisely:
- The total number of Final Notices used
- The total ($) assigned
- The total number of Final Notices paid before assignment
- The total ($) of Final Notices paid before assignment
- The success ratio – number of files (%)
- The success ratio – ($) (%)
How to create and print a Final Notice?
You must simply click on the link Final Notice Form. Complete the necessary information needed, and print the document. The Final Notice printed is the document that you will forward to the debtor concerned. Access Collection Agency is then advised of the creation of the document, and will contact you at the appropriate time. The Final Notice will equally appear in your Final Notice Summary with the status Received. When we will contact you to inquire whether the file must be activated or not, the status Settled will appear in the Final Notice Summary if this tool, free of charge, will bring you results. If the contrary occurs, we will then activate the file immediately and the file No. will appear in the column Our reference. We will then be able to maintain up-to-date statistics at the bottom of the Final Notice Summary page.
Please note that you will always have access to your Final Notices by clicking on the icon on the left hand side of the Final Notice Summary.
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