Collection Code Structure

 

 

 

The below Codes are guidelines to how we collect a Past Due Bill or a NSF Check ( Note: With NSF Checks we usually start with code 2 and progress from there )

 

Audit Approach

Our adjusters start by stating, "We're trying to help clear up outstanding balances or nsf checks for XYZ Company. Your company's name is on the list, and a review of your balance shows it is past due. When do you expect to get this account current and what can we do to help with the recovery?

 

Code-1 Easy Soft Approach

Phone calls only, no personal visits to the debtor. Make debtor aware there's a collection problem and that a third party is now involved. A slap on the wrist and a "Let's get this paid up right away." In a lot of cases this approach is all that is needed to get this matter resolved.

 

Code-2 Strong Approach

Phone calls. No personal visits. Serious action will be taken if the debt is not retired right away. There will be a sense of urgency in getting this account promptly paid.

 

Code-3 Action Approach

Phone calls and special correspondence will be sent. If at this point we are unable to recover the balance, we will request that Our Debt Collection Attorneys make contact with the debtor if necessary.

 

Code-4 Attorney Approach

Have a collection Attorney in the debtors' locale call and make demands to assit in debt recovery and perhaps a personal visit if it becomes necessary.

 

Code-5 Final Demand Approach

Do what must be done, with legal boundaries, to collect the bad debt short of litigation.

 

Litigation

If all of the above efforts fail to collect your bad debt , we will consult with you regarding the advisability of suing the debtor. If suit seems appropriate, our Legal Transfer Department can facilitate the procedure.

All of these codes can be used for any of our services offered which include: Debt Collection, Bad Debt Recovery, Billing, Invoicing, Legal Collection, Attorney Collections, Property Collections, Repossession, Defiance balance Collections, Medial Collections, Bank Collection, Dental Collection, Student Loan Collection, Bill Collection, Utility Collection, Commercial Collection, Personal Collections, Past due Balance Collection, Retail Collections, Credit Card Collections, Insurance Collections, Business to Business Collections, B2B Collections, Property management Collection, Bad Debt Recovery, Judgement Recovery, Judgement Collection, Pre-Collection, Aged Collection.

 

National Asset Management LLC or NAM has six divisions:

    1) Recovery & Collections
    2) Billing & Invoicing
    3) Judgement Recovery
    4) Legal Recovery / Collection
    5) Asset Management
    6) Risk Management

 

Learn more about all of our collection approaches by visiting our website

 

 

Our Services

Collection Services

Judgment Recovery Programs

Legal Services

Billing & Invoice Programs

Recovery Services