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Security Financial Solutions, LLC–Effective, Ethical, Affordable.
SFS offers a wide range of services than can be tailored to meet the needs of individual clients. Our services encompass six broad categories: consumer debt, commercial debt, judgments, “dead-end” debt (see below), personal debt and debt factoring. Our combination of experience, expertise, and cutting-edge tools and tactics is second-to-none and has helped to push our recovery rates well above the industry average. SFS staff are trained in each and every aspect of the recovery process. We are especially proud of our longstanding success and experience with all forms of debt, our unique blend of courtesy and persistence, our customer service, our absolute adherence to all applicable laws, and our commitment to basic ethical principles.
In addition, technological improvements and vastly-improved database access, have allowed us to digitize key aspects of the business and free up manpower for the truly challenging cases that tend to thwart most other collection agencies. That said, time-tested tactics like phone calls and letters remain integral to how we work. After an account is placed with SFS, a 30-day letter is delivered to all stakeholders making clear that SFS is involved in the matter and that expedited, voluntary payment of the debt is in everyone’s best interest.
Crucially, SFS also understands when (and when not) to involve the courts, when to put our expert tracing team to work, and when to seek legal advice from our nationwide network of collections attorneys. If our preliminary efforts produce only limited results, we consult with our client and, if the amount owed is substantial (i.e. in excess of several thousand dollars), we recommend obtaining a judgment against him (or her). Without exception, we take our cue from our clients and avoid anything that has even the slightest potential to reflect poorly on a client. In those instances when court action becomes necessary, SFS absorbs all associated costs, including filing fees and outside attorney fees. We only charge a fee when we are successful in collecting the money owed.
Significantly, SFS has the ability to identify and access assets that the debtor may be minimizing or actively concealing. SFS actually begins the investigative process prior to any litigation to ensure that all out-of-pocket costs are justified by a strong prospect of debt recovery. SFS is especially interested in bank accounts and other financial holdings, commercial interests, real estate, regular income streams, motor vehicles, third-party assets and–significantly–existing and potential liabilities. SFS typically works with a judgment enforcement agency to force collection. Many times, debtors are not even aware that key assets have been tapped and they’re actively repaying their debt.
SFS specializes in the following:
This represents the bulk of our business and encompasses all debts incurred by individual consumers (e.g. medical debt, utility-related debt, credit card debt, auto loan delinquencies and student loan debt). Our goal is always to recover monies owed in as little time as possible, and again, legal action remains a viable option at all times, particularly if initial progress is limited.
The majority of this is business-to-business (B2B) debt associated with high balance accounts. In many cases, legal action is required to force collection. SFS is well-versed in dealing with companies that owe money and understands only too well that regular, reliable B2B payments are essential to ongoing success in the commercial sector. Think of SFS as an extension of your office and Accounts Receivable department. And remember: you can check on the status of your account at any time using our online client portal. We do everything we can to keep our clients in the loop.
It is an unfortunate fact that a full 85% of all civil judgments resulting from lawsuits go uncollected. The key to successful judgment recovery is asset discovery, and SFS employs highly-skilled asset investigators for exactly this purpose. As noted, SFS absorbs all court-related costs up-front, and a vast network of attorneys is on hand to help us ensure a successful outcome. SFS is especially effective at collecting judgments associated with landlord-tenant disputes and evictions.
“Dead-end debt” is an umbrella term for debts within the consumer, commercial, and personal sectors that have proven uniquely resistant to collection. Clients have either tried to collect these debts themselves and failed, or (more often) they’ve been let down by inferior collection agencies. Our track record in this area is excellent.
Sometimes, friends and family members find themselves on the opposite sides in disputes over loans, repayment schedules, and other types of incurred debt. Such disputes are typically confined to individuals and do not involve commercial actors, financial institutions, etc. SFS excels in all aspects of this sector but has especially broad experience in collecting judgments issued by a court of law.
No one likes to admit the fact, but some debts are so “dead-end” that chances of recovery, while not exactly zero, are extremely slim–particularly over the short-to-medium term. In such cases, SFS is often willing to pay cash to creditors, offering them the opportunity to walk away from these debts entirely. This is based on the idea that SFS can “work” these extremely difficult accounts over a much longer time frame than most clients, eager for some form of financial return, are willing to tolerate. When we purchase debt from clients, they are able to realize financial benefit immediately.
SFS encourages clients to check the status of their cases online. We make a point of keeping clients in the loop at all times. We issue monthly reports, but once again, the status of any case is always available online–24/7, 365 days per year. Each client is assigned an SFS agent who advocates on his or her behalf. And all clients–without exception–are treated equally, regardless of the size of the account or accounts they have placed with us.