Gregory Marx, President, Business Associates, Inc.
How can I submit accounts for collection and what debtor information do I need?
You may submit accounts for collection via our website, email, regular mail, fax or if your volume is large enough, electronically to an FTP site (which we would help you set up.
The information required is AT LEAST the debtor name, amount owed, the nature of the debt and the date the debt was incurred. Most recent contact information for the debtor is requested, incl. address, phone number an SS #. If it’s a MEDICAL ACCOUNT, then guarantor information, if relevant, is required.
If I submit accounts electronically, are they secure?
Yes. The electronic submission would be HIPAA compliant, which means that the encryption would meet normal applicable standards for confidentiality.
Do you have long term contracts?
No, we do not have long term contracts. You may terminate our relationship at any time. We believe our performance should keep you… not a contract.
What percentage collection rate do you have?
Without trying to be evasive, the rate of collection is impossible to predict. There are national market norms (utility vs. cell phone vs. medical market etc.) but it is a only a gross estimate. Our collection “targets” are between 25% and 35%. If you list one account and we collect it, the rate is 100%. If we can’t locate the debtor and we fail to collect it, then it’s 0%.
What are my fees, and are they contingent upon collection?
Our collection fees are highly competitive and are contingent upon collection.
If the debtor is a consumer, the collection fee rates depend upon volume. If the debtor is a business, the collection fees depend upon the face value of the accounts, and possibly volume. Please call us to quote a rate.
Can I access accounts via the Web?
Yes, you can access your accounts via the web. We provide no-charge access and training. The system is very user friendly. We tend to grant access only to repeat-clients or when you list more than 5 accounts, but please call ClientCare to discuss further if you have questions.
Can you take payments via credit card or over the phone?
Yes. We take credit card payments over the phone and via the web for both debtors and clients.
When will I receive statements?
You will receive statements within five (5) business days from the end of each month that monies are collected and posted.
Can you collect in Spanish?
Yes. We can collect in Spanish, Hmong, German, French and other languages. Please call if you have a specific need.
What if we want your agency to take a harder stance on an account?
We are definitely focused on complying with all collection laws. We are direct, but always respectful, irrespective of how treated by the debtor.
Do you have automated dialing and call recording equipment for our protection?
Yes. We utilize automated dialing for “less complicated” accounts, and have 24/7/365 call recording for our protection as well as yours.
Do you report to credit bureaus and is there a charge?
We report to all 3 national credit bureaus at NO-CHARGE to you.