Commercial Collection Services
Collecting Your Money From Past Due Accounts
The Collections Department at NACM Connecticut collects your past-due accounts, large or small, as quickly as possible. Our goal is to collect money owed to you by your customers in a timely manner without risking your customer relationships. NACM Connecticut has many resources to locate debtors, including the ability to draw on a nationwide network of Affiliates—with offices located throughout the nation. As we collect your funds they are placed in a separate trust account.
Collections Services Include:
Pre-collect Letter Services
Our collections services group will send two or three effective, money-producing letters, usually 10 days apart, to a past-due customer. Each letter is progressively stronger and stresses the importance of paying before the account is assigned for collection. If the debtor fails to respond during the pre-collect period, the account automatically receives immediate action service.
10-day Demand Letter
A firm and tactful 10-day Demand Letter gives the past-due customer a final notice to pay in full by a specified date. If the debtor fails to respond, the account automatically receives immediate action service.
Action and Litigation
When fast results are needed on a problem account, our experienced collection team will use professional techniques to effect collection. If the debtor fails to respond or is uncooperative and further action is required, the account is forwarded to the Litigation Service. If the debtor is outside of your service area, the account may be forwarded to an NACM Affiliate or attorney in the debtor’s area.
A professional litigation team provides expert attention to all delinquent accounts. If the debtor is in the same geographic region as the creditor, an asset search is conducted to determine the feasibility of litigation. When the services of an Affiliate or an attorney are required for a debtor outside of the creditor’s service area, noncontingent suit fees and costs must be advanced by the creditor.
Part of our process is to continuously keep you informed of activity with periodic status reports. In the event the account is in litigation, you will be informed of any meaningful activity. Status reports on specific accounts are always available upon request.