Kennedy, Hayes & Katz LLC
Consulting, Billing, Collections, Insurance Subrogation
When To Place Accounts
Kennedy, Hayes & Katz, LLC understands the importance of getting all of your consumer and commercial delinquent accounts collected in a timely, efficient and professional manner. One of the keys to successfully collecting your money is to become knowledgeable of when to place your accounts for collection. Most businesses make the big mistake of holding onto delinquent accounts for long periods of time while the account is not being paid. It makes no sense to hold onto accounts that are not paying you. Eventually these businesses figure out the hard way that sending multiple statements and invoices is a big waste of time and money and their receptionist and clerical staff are not bill collectors. There are so many business executives and business owners that are not aware that their staff needs to follow collection laws or they may wind up in court being sued for damages. Our collection agency may collect a few accounts due to placing the accounts sooner, but it will collect you a much greater percentage of all of your accounts in the end, giving you a much bigger profit.
When to send your delinquent accounts to KHK... It is time to send your accounts for collection when the terms of your contract or agreement is not honored. Other warning signs can be when your customer starts making excuses of why they are not paying you or breaks promises to pay. Beware of when you sense your customer is stalling for time before sending your money. That is usually a key sign they never will pay you or they are possibly in deep financial trouble. If you wait too long, they may even pay other creditors first or they may decide to file for bankruptcy and you will not get paid. It is definitely the time to send your accounts to KHK when your statements, invoices and letters are ignored. Another clear reason would be when unfounded disputes and complaints are being made or your customer denies any responsibility. They usually are trying to justify why they are not going to pay you voluntarily. Watch out for customers that give you an NSF check or put a stop payment on a check or credit card payment. Some customers may even try to give you incorrect check, debit card or credit card information if paying over the phone or internet. You know it is time when your customer will not take your phone calls, won’t come to the phone, is to busy to talk or hangs up on your call. More bad signs to send KHK your accounts can include your collection calls going only to voice-mail or where you leave numerous messages and never get any return calls. You cannot overlook the obvious reasons to send your accounts to KHK. When your customer moves and you receive return mail with no forwarding address, or when your customer disconnects their land line or cell phone without notifying you. When any of these things occur, take immediate action and get these accounts to KHK as soon as possible.
If you are a consumer with a debt placed in our offices for collection, "This an attempt to collect a debt, by a debt collector, and any information obtained will be used for that purpose."