FAQ

FREQUENTLY ASKED QUESTIONS

What do you need in order to start collecting on my accounts?

Any documentation you contain that supports the claim together with any contracts.

Is there a minimum dollar amount to a claim I can place?

We handle accounts as low as $100 and those accounts receive the same amount of attention as the larger balance accounts

What is the minimum number of accounts I can submit?
There is no minimum or maximum number of accounts.

How soon do we get our money once it is collected?

We remit payments at the end of the month for the prior month’s payments. For example any payments we take in January are remitted at the end of February.

Why use a collection agency?
People will often pay a collection agency even though they never cooperated with the original creditor, mainly because collection agencies increase the urgency associated with a debt. The person will understand that time is running out on avoiding payment and that the creditor is serious about recovering what is owed to them. Also, many people are wary of the impact that a collection account can have on their credit score.

When should I place an account for collection?

The best time to enlist the services of a collection agency is 90-120 days of the invoice due date. The older the debt, the harder it is to collect. A rule of thumb to remember is that after three months the probability is that you will only collect $.73 of each dollar delinquent…after six months, only about $.54 of every dollar...and after one year, the best expectation is that only about $.26 of every delinquent dollar will be collected.

My company is very customer oriented. Can you collect without damaging goodwill or jeopardizing future relationships with our customers?

We adopt a professional and diplomatic approach in all of our communications with your delinquent customers. We realize that today's slow-paying customer can often be converted into tomorrow's good-paying customer with the right amount of collection follow-up and negotiation skill.

Do we sign a contract to start using your collection and legal services?

No contract. We have a standard Collection Agreement which allows us to represent you in the collection of your receivables on a contingent basis. It has the legal equivalent of a Purchase Order. It defines our relationship, confirms the contingent rate, guarantees you will receive a statement within 30 days following the month in which we collect, spells out our cancellation policy and that we will comply with all federal, state, local laws and statutes. You will receive this agreement to review, sign and return before we begin collections.

If I have an internal collection department, why should I use a debt collector?

Even with the best internal collection department your company will still have uncollected debt. We then pick up the pieces where your internal collection department left off. Not all customers take the collection process seriously until they are contacted by FIS. We will save you unnecessary payroll hours of work by your collection representatives. We stop your representatives from chasing old money, when they could be assisting new customers.

How long do you continue collections efforts?

It depends on the individual case, but roughly we recommend 120-150 days.

What sets your firm apart from the many agencies out there? We will give your business a personalized service that other big debt collection agencies will not give you. We pride ourselves on being easy to work with. Our services has been built on the foundation of quality assurance, ethics, integrity, and performance.

What is Georgia debt collection agency statute of limitations?
The statute of limitations for debt in Georgia is (4) four years. This is a long form text area designed for your content that you can fill up with as many words as your heart desires. You can write articles, long mission statements, company policies, executive profiles, company awards/distinctions, office locations, shareholder reports, whitepapers, media mentions and other pieces of content that don’t fit into a shorter, more succinct space.

Articles – Good topics for articles include anything related to your company – recent changes to operations, the latest company softball game – or the industry you’re in. General business trends (think national and even international) are great article fodder, too.

Mission statements – You can tell a lot about a company by its mission statement. Don’t have one? Now might be a good time to create one and post it here. A good mission statement tells you what drives a company to do what it does.

Company policies – Are there company policies that are particularly important to your business? Perhaps your unlimited paternity/maternity leave policy has endeared you to employees across the company. This is a good place to talk about that.

Executive profiles – A company is only as strong as its executive leadership. This is a good place to show off who’s occupying the corner offices. Write a nice bio about each executive that includes what they do, how long they’ve been at it, and what got them to where they are.

FAQ