We Bring Doubtful Accounts Back to Life
There's a long process before a debt reaches doubtful accounts, but when it does, we play a role in helping to recover it.
When credit is extended, the creditor expects the consumer to pay back the debt they’ve incurred. Right off the bat, the amount of credit extended is placed in an account called “accounts receivable.”
When the deadline passes and the consumer has shown no intention of paying back the debt, it’s transferred to a dark, dim place: doubtful accounts. By the time debt reaches this point, the creditor no longer expects the debt to be paid back, and is planning for this possibility in their own financial statements. But many methods exist for the doubtful accounts to be recovered, all of which take places in collections.
Throughout the collections process, companies lose out on the ability to collect from their doubtful accounts because of misinformation, purposeful or accidental, or lost information. Through big data companies, companies can find correct consumer information.
But not always.
50% of the data collected through a database search process is unhelpful or incorrect, or there may not be data found. When companies want to collect these doubtful accounts from consumers, 50% is too wide a margin of error. 50% leaves space for your call center to contact the wrong consumer, risking litigation and your reputation.
For the consumer contact information that slips through the cracks, Accutrac provides a solution. Our products are focused on live, human calling to retrieve and confirm consumer contact information. By utilizing live callers, we provide a simple solution to fix a problem that data technology has created.
It’s simple and effective. We resurrect a percentage of the doubtful accounts that would be declared dead, had you relied on machines alone.