When you are selecting a debt collection agency, you might have questions concerning the collection process. That is one way to understand the process, but if you need a deeper meaning of a collection agency, you should look for the IC System. The company accounts receivable firms that will help you understand how a collection agency operates. Here are some things you should learn about the company:
Ruth and Jack Erickson founded the company in the year 1938. It has been operating for eighty years under the care of Erickson family. The firm headquarter is located outside St. Paul, Minnesota, and has an excellent reputation for achieving financial solutions for their client’s patients ethically and honestly. The following points explain more about the company’s policies and philosophies during the time of collection.
Recovery act begins in advance before any accounts receivable firm is involved. IC System gives informative guidelines that the clients should follow before the actual action is taken. They encourage their clients to support the five steps given which allow clients and their patients to come to a favourable solution before they take over.
The company recommends a client to engage in research about the patient’s account. It is common for any client to misplace or not receive the initial bill. In any case, the report is not unresolved, even after subsequent billing, and then the client should look at the patients account to know if there are any details about the outstanding financial status.
IC System advises their clients to contact the patients so that they can try to resolve the balances they have. It should be done if the patients account remains to be past due after the first step. It could be possible that the patients forgot about the debt and he or she could make it pay. As a client, you will also be able to understand why your patient is not able to pay back just as agreed.
What to do with the actual steps.
If it is not possible to reach your patient after many trials, IC System advises that one should seek some assistance from a collection agency. At this point, they encourage clients to give the patient a warning that there would be some collection in their account.