Placing your debt with an agency is the logical first step in the recovery process, after in house collection efforts. If your agency is returning 20% of your placement dollar volume, that leaves 80% uncollected debt still in inventory.
Dormant /warehoused debt is a term used to describe uncollected debt that has been sitting in inventory- either recalled from your agency or languishing in the agency’s “uncollected accounts” file. These accounts continue to age and the volume of accounts continues to grow.
Our unique business model was developed to increase revenue from existing files closed by first place agencies. Our track record includes successful recovery of some of the most difficult debts, regardless of the type of asset, amount due, and the age of the receivables,
All second placement accounts placed with SFS are scrubbed for right party contact through millions of records aggregated from disparate sources to return current addresses and phone numbers. Contact with the customers is then initiated through a series of letters and calling campaigns designed to maximize recovery for late stage accounts. As always, the principals of negotiation are the key to successful recovery. All high balance accounts which have not responded to our efforts will be moved into a pre-legal status for further evaluation.
If you have a bulk of accounts sitting uncollected at an agency currently, or a batch of written off debt, call us today to find out if you can take advantage of our Dormant Debt Program. As always, SFS does not charge a fee unless we collect. As an alternative to placement, you may consider an outright sale of your older debt inventory through our Account Purchase option.