Many businesses fail to identify the importance of accounts receivable management and effective collection practices. If handled improperly, not only can poor collection efforts lead to cash flow problems for a business, but can directly contribute to business failure.
Our fees are contingent on results…no collection, no charge. When we are successful in collecting money on your behalf, we charge only on the portion we collect. Our fee for commercial account collection follows a competitive sliding scale. Commercial rates apply to business accounts by registered companies or individuals that obtained the credit to conduct business. The business must still be active and operating. Volume, balance, and type of business are variables that effect commercial rates. Most commercial claim rates are less than 20%.
Our commission rate structure enables us to thoroughly work each and every account assigned to us whether recovered or not. NETBACK is the objective…to deliver more money back to our client than any of our competitors with an equal volume of business based on effort, regardless of the rate charged. For more or specific information on rates please
directly to review the variables.
Negotiated rates are available for large balance assignments and/or large volume assignments.
Collections and Legal Processes
Should regular collection efforts fail to enable recovery, and the variables support utilizing the courts, we will share the information with our client. Together we will review the information and define our strategy. No form of action will be taken without our clients’ written consent. With the initiation of an action, Keltic will guide the legal procedures from the issuing of the action through the execution and recovery. Having handled thousands of judgement accounts we are experienced in all aspects of civil litigation, as well as utilizing the execution process to effect recovery.
Final Notice Program
Based on the qualification, and authorization of our Client, both consumer and commercial collection assignments are uploaded to Equifax Canada’s credit bureau records. Reporting is ongoing throughout the life cycle of the account. Only when the account is paid in full will the credit bureau record reflect the account as paid. Our relationship with Equifax enables Keltic to verify information and use the credit bureau as a tracing tool in the effort to locate debtors. Reporting collection assignments often results in the debtor being forced to address payment of the debt as they continue to utilize credit.
As important as the ability to effectively communicate the collection message is the ability to locate both individuals and company owners or executives. Effective tracing is a blend of an art and a science. Keltic supports the science with access to extensive databases including government records and credit bureau files. Keltic’s people are well versed in the art. Our experience coupled with knowing what to ask for, and how to ask, provides us with information that leads to results.
Bailiff / Process Serving