All businesses with account receivables face challenges in controlling bad debt and need professional assistance. You know that the longer a debt goes unpaid, the greater the risk of total loss. The longer money goes uncollected, the more uncollectable it becomes.
Rather than let those unpaid accounts, judgments and checks pile up, let us convert them back into working capital. We can make the difference in your profitability.
We will take your claim, large or small, from inception right up to and including executions, seizures, and attachments. If there is no collection, there is NO CHARGE.
We recognize that it is not sufficient to merely let the debtor know that a collection agency has been hired. Debtors prioritize repayment of past due accounts based on their budget and how much pressure they are under to make the payments. A more "intensive" collection process. We may utilize credit reporting, the latest technology, best-practices collection techniques, along with debtor psychology to obtain the maximum recovery for our clients.
Our collection services can handle one or ten-thousand accounts throughout the nation and around the world.
Collecting money takes training, planning, talent, scheduling, timing and a proven program.
Cash Flow Improvement Specialists uses many years of knowledge, skip-tracing tools and automation to recover YOUR MONEY. We use partner agencies and a network of collection attorneys.
Our contingency based debt collection process results in a relentless pursuit of your debtor through every means legally available. However, not all claims will ever be collected. Many times, a debtor will forego a listed telephone and force us to constantly search for unlisted and cell phone numbers. We do have access to all unlisted phone numbers and a large percentage of cell phone numbers.
All collections are on a contingency basis. If we cannot collect your claim, partial or in full, there will be no charge. There are no set-up fees or placement charges for listing your claim(s).
We Enforce Judgments!
If you have a valid court awarded judgment and we accept your claim(s), will use every method at our disposal to recover the full amount of the unpaid judgment. As allowed by law, we will garnish wages, attach bank accounts, and seize assets as necessary. Depending on the location and merits of your judgment(s), we may choose to pursue the collection through our agency or forward the claim to one of the attorneys in our network.
No Charge Skip-tracing
We will track the debtor down even if he or she has moved to another state. We have access to both private and public databases that allows us to 'skip-trace' the debtor and to locate any assets that he or she may have. We also have access to unlisted phone and cell phone numbers.
Small Claim Service
Small claims sometime require a long, slow and maintained pursuit to attempt to wear the debtor down. The claim is not collectable via normal avenues of attorneys and suit due to the small amount involved. We excel in this area as we clearly understand it can take a year or more to collect when other agencies will probably send a letter and maybe make a call. Our goal is to maximize your recovery. After all, we are paid only on commission.
Motor Vehicle Fuel Drive-off Recovery Services
Our service can recover a large portion of losses due to theft of fuel. We track a license plate back to the vehicle owner. A series of demand letters with statutes is mailed. We have access to unlisted and cell phone numbers that enable us (in most cases) to call the registered owners of each vehicle many times per week. We provide your station(s) a “Drive-off Sheet”. When a drive-off occurs, write in as much of a description and the plate number as possible, attach the cash register receipt and fax or mail it to us for processing. In addition to daily interest, a $30 collection fee is added to the theft amount and all three items are included in the total amount owing. You receive 60% of what we collect including the interest and collection fee! Example: A $47.00 drive-off theft. We add a $30 collection fee and daily compounding interest ($.40) = $77.40 claim. We deduct our commission of $30.96. You will recover $46.44 back in your till.
Forwarding of Claims
We reserve the right to and most of the time we do “forward” claims to another agency or attorney to effect an efficient and speedy collection. Forwarding of claims gives us multiple opportunities to extend the pursuit with varied tools and flavors over several months or even years of pursuit. A letter and phone call from an attorney carries much more authority than letters from our collection agency.
Conciliation Court and Mediation
If the debtor will not make a good effort to settle or pay the amount owing, we or our attorney may or will ask you if a suit should be commenced. When working a judgment, we can order a wage garnishment and other legal actions. Authorization to start a conciliation or civil court suit may come only from you. You may/will be required to advance process server, garnishment fees and/or court costs to us or our attorney prior to the action. Our partner agencies and law firms have policies concerning the advancement of court fees and costs which we will discuss with you pending suit or legal actions..
Cash Flow Improvement Specialists, Inc. Collection Terms and Conditions
For Past-Due and Delinquent Account Collection, Motor Fuel Drive-off Theft, Bounced Check Collection,
Credit Card Chargeback and Judgment Enforcement.
Cash Flow Improvement Specialists, Inc. (hereafter known as "we" or "us") will attempt to collect your claim(s) or files(s) under the following agreement:
1. We will comply with all local, state and federal laws and such policies of your company as you may disclose to us.
2. We reserve the right to and are authorized to “forward” claim(s) to our affiliated collection agencies or attorneys for collection at our discretion to effect an efficient and speedy collection. We always attempt to collect your money without spending legal fees and costs. If we are unable to collect money voluntarily and depending on the merits of the claim, we will or may ask you for a “suit assignment” prior to initiating legal activity. You may/will be required to advance process server, garnishment fees and/or court costs to us or our attorney prior to the action.
3. Commission fees are on a contingency basis of recovered funds either when collected by us or if paid directly to you from the debtor. Cash Flow Improvement Specialists, Inc.’s commission fee on gross money collected from debtor is: Claims where we or a partner/affiliate collection agency collects a partial or full payment..................................................... 40%
Claims where a partner legal firm or attorney firm collects a partial or full payment.............................................................. 50%
Collections on claims that are international. The advancement of legal fees & costs are decided on a case by case basis...... 50%
4. You will advise us immediately of any debtor payments made directly to you after placing the claim(s) and we will invoice you for our earned commission fee.
5. We have no authority to settle any debt for less than the full principle owing, except under your expressed verbal/written permission.
6. We will not charge you set-up fees, placement charges, retainer fees, skip-tracing or report fees for listing your claim(s). However, you will be invoiced for our research, labor and expense not to exceed the lesser of $45.00 or 10% of the principle amount of each claim, judgment or check that is placed with us and then withdrawn by you within 180 days of placement including claims placed for collection in error. Our course of action will consist of a series of letters, phone calls and litigation. We will continue to attempt to collect your claims as long as we determine there is merit in doing so. Some collections are most effective over several years of repeated attempts to collect your money with credit bureau reporting. You authorize us to report debtor’s delinquent account(s) to one or more credit reporting bureaus. If we are unable to locate the debtor, collect a partial or full payment and litigation is not an option, we will close the claim and return it to you without any charge to you. No commission is earned or fee charged by us due to a bankruptcy discharge or no-asset business failure.
7. Interest is charged to the debtor from the receivable's due date, judgment award date or the date on a bounced check at the allowable interest rate in the state where the debtor receives mail. A higher interest rate, collection fee and attorney fee will be applied to the claim IF the debt instrument creating the debt contains proper notice in writing and is signed and accepted by your customer at the time of contract, acceptance of a proposal, or authorizing a work order. All collected interest will be applied to either the gross amount collected and subject to our commission fee or the interest on a claim may be waived for the debtor if it will entice an immediate and/or full payment. The maximum state-authorized collection fee is added to every bounced check and motor fuel drive-off theft claim and is also commissionable to us.
8. Any remittances will be held in our non-interest bearing trust account and you authorize us to endorse checks and negotiable instruments for deposit into this account. All net claim payments are dispersed through a trust account. We must hold debtor payment made by check for 14 days from the deposit day and foreign moneys require additional time to clear. A net remittance check and report will be mailed to you in a timely manner. We reserve the right of offset future commissions to collect fees that you owe us.
9. You will be invoiced for any net debtor payments received by us, applied to a claim and forwarded to you that were made via credit card, debit card, money order or check and later "reversed" or "returned unpaid" by the debtor/card issuer/check writer.
10. We will immediately notify you of any lawsuit or claims against you or us arising out of our efforts on your behalf and we will defend and indemnify you against such claims or suits that arise out of our action. You will defend and indemnify us in any such action where cause arises out of erroneous information supplied by you. In any action, you will have the sole right to choose your own attorney.
11. You hereby warrant that all claims forwarded to us will be valid and legally enforceable debts and that you will cease phone calls and correspondence in an attempt to have debtor pay any claim placed with us. You shall not place claims that have been included in a bankruptcy. Further, you agree to provide a written verification of a claim, check, invoice, statement; lease, contract or judgment on which a claim is based and the name and address of the person or entity to whom the debt was originally owed, if different from you.
12. This agreement contains all of the covenants between you and us and may be terminated by either party upon receipt of a 60 day written notice. Both parties acknowledge that no representations, inducements or promises which are not contained in this agreement, shall be valid or binding. Any modification of this agreement will be effective only if it is in writing and signed by both parties. Venue of the purposes of this agreement shall be in Olmsted County, Rochester, Minnesota, USA. By signing this agreement, you agree to these terms and conditions.
Creditor Business Name: _____________________________________________________________
Please complete and return to our office. Fax: (507) 529-0134 or toll-free fax: (866) 210-9738. Or mail to: Cash Flow Improvement Specialists, Inc., 111 18th St SE, Rochester, MN 55904-7934 with your claims. Phone (877) 529-7871.
Click this link to download the free claim placement forms and detailed information.
When your account has been set up (no charges apply) and we have entered your claims, you'll receive a letter or e-mail acknowledging your claim submission. (We like to send your correspondence via E-mail) Then, we'll go to work rounding up your money.
Any and all information you submit to Cash Flow Improvement Specialists, Inc. will be held in strict confidence. We will never release, sell, or trade E-mail or private information for any reason. All order transactions are processed on our secure encrypted servers. All documents faxed to our office arrive in an extremely secure location, not available to the public.
IMPORTANT NOTICE!!! CHECK ACCEPTANCE POLICY. In the unlikely event that your check is returned for insufficient or held funds, we will debit your checking account electronically for the face amount of the check plus the state allowed fee. This Policy allows us to resolve the problem without reporting you to a credit bureau and harming your credit rating. The transaction will appear on your bank statement, and no one will have to contact you about payment.
Your submission of a cash flow worksheet and the consulting is free. You or your company are under no obligation to accept any cash offer we make for the funding of an accounts receivable financing (factoring) or purchase order funding worksheet, or the like.
Cash Flow Improvement Specialists and United First Financial does not provide accounting, tax, legal, real estate, mortgage or investment advice on this Website. Interested parties should seek and consult with persons and entities licensed and qualified in those areas for advice relating to those matters. The information contained herein is general and may not apply to your situation and does not substitute for the advice of an attorney.
Always consult an attorney with regard to your legal rights and obligations. Neither any page on this Website, text, graphics, downloadable information or form, products, services nor affiliated Internet Websites constitutes legal or tax advice. Always consult with a qualified tax advisor regarding tax consequences. The information contained on this Website does not constitute an offer or a solicitation to lend or extend credit.
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