Frequently Asked Questions
How does your Debt Collection service work?
In two words, extremely well! Please enjoy our brief services video above, which gives you some highlights on our firm. Clients can submit up to five B2B (Business-to-Business) collection assignments in one simple process here. Upon submission, instructions will display providing our email and fax number to furnish documents in support of each assignment, including invoices, contracts, purchase orders, credit apps, etc.
Our fees are 100% contingency based, so we're only paid based on successful collected payments owed. Please click here to review our fee rates.
Our team of experts utilizes a combination of diligent telephone contact, in depth skip tracing techniques, strategically timed letter, fax and email campaigns, face-to-face contact and local attorney intervention when indicated. In the rare event legal action is necessary, our Clients are covered in all 50 states! Please click here for an overview of our collections process.
How long will it take for you to collect?
Although there are many factors which may result in a slower than ideal resolution, in most cases our collection efforts will yield positive results within 10-30 days. We can often recover accounts within just a few days from placement provided they're placed with us in the earlier stages of delinquency.
I'm concerned that if I use your service, I might alienate my customers. Feedback?
This is certainly an understandable opinion, given the tactics that some competitors employ to collect money. So, do your due diligence and check out any potential vendor thoroughly.
I think you'll agree that any company could potentially alienate a customer for many reasons. A customer may become dissatisfied due to just one of many aspects of their experience failing to meet their needs, hopes or expectations in some way. But if any customer fails to pay as agreed for the goods and/or services your company provides, and your reasonable attempts to collect have failed, than hiring a qualified professional that has the expertise and resources to get the job done should be a risk you're willing to take. Yes, a customer may get upset for being sent to collections, but few individuals are happy-go-lucky in the midst of a financial crisis. Anger and frustration are par for the course, and are often emotions that simply must be carefully dealt with while taking positive steps toward a resolution.
That being said, we completely understand and are sensitive to your desire to maintain solid business relationships with good customers who may only be experiencing a temporary financial setback. We always strive to conduct our efforts in a manner that serves to preserve, salvage and elevate your customer relationships when possible. We often receive compliments from client customers, many of which have also become clients after satisfying their debt.
How long should I wait before I utilize your service?
If a customer is late more than 60 days and isn't communicating with you, you shouldn't wait any longer to place the account with us. Customers who are communicating their intentions to pay, yet still become 90-120 days past-due should be placed for collections immediately. Although we often recover accounts well over a year past-due, waiting too long to place an account can be a costly error in judgment. Click here for published collection statistics.
What is the process if you can't collect and a lawsuit is necessary?
Although the majority of claims placed with us for collection will be recovered without the need for legal action, sometimes a lawsuit may be necessary to protect your financial interests. Please click here for details on how these claims are handled.
Are your rates negotiable?
In certain circumstances, absolutely. Although our published contingency "No Collection, No Fee" rates are highly competitive, clients placing unusually large balances and/or a high or consistently regular volume of account assignments may qualify for a negotiated rate.
Is there a faster way to submit higher numbers of accounts for collection?
Once your company has submitted at least one account for collection via our secure assignment form, you can then assign an unlimited number of past-due business customers for collections quickly. Just send over your accounts on an Excel spreadsheet or almost any CSV format. We’ll custom-design an import process based on your company’s needs and have all your accounts in our system, ready to go within minutes, whether you need 20 accounts collected, or 2,000. Questions? Please contact our office.
What qualifications does MRG Partners have for debt collection?
Managing partner J. Mike Ross has over 30 years of experience in debt collection and reduction strategies. Learn more about Mike's success.