Top

3rd Party Accounts Receivable

Collect Past Due Accounts

Let Finance System maximize your debt recovery results.

Debt collections are growing more rampant and complex every day. That’s why we provide personalized, customized solutions that fit our clients’ needs. For over sixty years, our third generation family owned and operated firm has delivered decades of experience, the latest in technology and far higher collection rates. We have a commitment to providing the highest in quality service through tailored, strategic and cost-effective solutions.

 

debt collection

What We Do

Finance System turns bad debt into revenue. We understand the importance of collecting outstanding debts. Finance System will swiftly, legally and ethically collect debt on your behalf while maintaining the integrity of your company, organization or institution.

The Collectors at Finance System are trained and experienced in all phases of the revenue cycle. We provide credit reporting, legal support, skip tracing and bill reminders. We are a member of the American Collectors Association and thoroughly versed on the Fair Debt Collection Practices Act.

Download

How It Works

Communication from a collection agency conveys immediate urgency to the debtor. Upon receipt of your request for collection on an account, we immediately begin collection proceedings by sending a letter advising the debtor that the account has been placed with Finance System. Then, our trained and experienced collection team will personally attend to the account. We also electronically report to the three major credit bureaus every month.

Collection Process

FSI_Icons_placing

Accounts Placed:
Your accounts can be placed online through our website, email, uploaded through FTP or other arrangements can be made to receive your accounts.

Letters Are Sent:
Letters will be sent to your customers stating their account has been turned over to Finance System, and collection efforts will begin if the account is not paid.

Phone Calls Made:
Thirty days after the letter is mailed, phone calls will begin. Skip tracing helps us locate your lost customers, and numerous other databases allow us to efficiently find your customers to receive proper payment.

Creditor Reporting:
If the account is in collections for longer than 30 days, it is reported on to all three major credit bureaus and continually reported until the debt is paid.

Legal Action:
After all collection efforts are exhausted, and legal action can be taken, the account is turned over to our in-house legal staff to be handled legally and ethically.