All accounts will be entered into our system and acknowledgments sent within 24 hours of receiving accounts. The following will be included in your acknowledgment to ensure accuracy:
- Name of debtor
- Financial Data Systems account number
- Your account number
- Balance of account
Once we have verified the accuracy of the accounts, they will be downloaded to our mail supplier and the debtor will receive their first notice letter within a few days. The first follow-up call from our professional collectors will occur within five days of the debtor’s first mailed notice. After contact with the debtor, an arrangement will be made to satisfy the outstanding debt that will benefit the debtor, the client and FDS. If no contact has been made with the debtor 10 days from the first mailed notice, FDS will send a second reminder notice to the debtor informing them that they still have time to pay the debt before more drastic collections are enacted. Following the debtor’s thirty day grace period a third and final notice will be mailed, and the debt will be reported to the Credit Bureaus (unless the client chooses to report at a later date). During the entire process collections calls will continue to be made by our professional collectors. Utilizing our state of the art DAKCS software, Financial Data Systems automates and prioritizes all accounts, saving both time and money for all involved.
Learn more about our unique approach to collections.