Let’s look at the pervasive issue that many organizations face when working with debt collection agencies: the alarming communication gap that often exists between clients and their chosen agency. In the traditional debt collection model, communication between debt collectors and consumers is often minimal and impersonal.

Despite the millions of dollars that many agencies manage, the quality of communication frequently falls short of clients’ expectations, leading to dissatisfaction, missed opportunities, and let’s face it – your bottom-line revenue.

Is your agency giving you full transparency? Many agencies operate behind a veil of secrecy, providing limited information about the collections progress, challenges, and risks. This lack of transparency can leave clients in the dark, unable to make informed decisions.

Despite the magnitude of placements in the industry as a whole, agencies often fail to offer detailed strategic guidance, leaving clients without the insights needed to assess the viability and potential returns of their placements.

Maybe you don’t even know WHAT to ask your agency. And that’s okay; we see this all the time. First, you should be asking for regular updates. While many clients expect regular updates, they often do not explicitly request them, leading to inconsistent communication and uncertainty. Secondly, do you have access to customized reporting? Agencies often provide generic reports that do not align with clients’ specific needs and preferences, making it challenging to evaluate performance accurately. Thirdly, are you keeping an open collaborative dialogue? Clients often fail to initiate collaborative discussions with their agencies, missing out on valuable opportunities to provide feedback and guidance.

Now, what about them?

What are they not asking you?

• Are they asking for your feedback and guidance? Agencies rarely seek input on their strategies or ask for feedback on their performance, leading to missed opportunities for improvement.
• Are they asking you for appropriate resources that will help them collect on your accounts? Agencies often overlook the need for additional resources or support, hindering their ability to collect on their clients’ debts effectively.

Here are the top 3 things you need to ask your agency:

• What strategies are you cutting corners on to cut down your own costs?
• How much of my bad debt inventory are you ignoring to cut your own costs?
• Are you collecting my bad debt with a patient centric attitude or a cost centric attitude?

We are not afraid to speak the truth, even when it may be uncomfortable or challenging.

Has your agency explained in crystal clear detail your net back?

Are they regularly collaborating with you to prevent revenue cycle leaks?

What about integration?

What about automation?

The bottom line is this: If you can’t see the data that will foster communication strategies you are essentially on an island, crossing your fingers that you’ll get back the money owed to you.

At Account Resolution Team we believe in providing clear and accurate information to both debtors and creditors. We strive to communicate openly and honestly about the debt collection process, including any rights and responsibilities involved.

Have you heard of or been personally cast out by another agency because you have been deemed unworthy of their services? It might be based on your volume or because you can’t or won’t send accounts the way they want you to. Or maybe you’re a client, but you feel like an outcast rather than their partner.

It’s time for agencies to STOP leaving clients in the dark and STOP concealing critical information that, if you knew about, could have a big impact on how much revenue you recover.

ART isn’t going to stand idly by while other agencies don’t do what they are supposed to be doing, and you don’t even know about what’s going on behind the scenes. Things like misrepresentation of information, misleading statements about how your debts are collected, lack of transparency in practices, and unauthorized charges and fees.

We are going to stand out from the crowd by protecting the interests of our clients by saying what other agencies are not willing to say.