Executive Credit Management, Inc.
Your Applicant Screening and Debt Collection partners for over 20 years
When you are not paid you want the matter rectified quickly and completely. If you go to a debt collection agency you lose some of your money, so you want all the rest. You have already waited too long, so you want it now.
These emotional reactions are normal and completely justified. Unfortunately, they will sometimes keep you from getting paid. Once a claim gets to Debt Collection there is already a problem. The question is no longer what is fair but what is possible.
Before we provide our Clients with a possible payment plan, before we even obtain a payment plan from the debtor, we try to obtain information on the debtor’s ability to pay.
What is the debtor’s income? What does the debtor own? What are the debtor’s fixed obligations?
We are looking for a payment plan that will work and provide a better return than a successful law suit. We want a plan that will put the maximum amount of money back in our Client’s pocket. This will be the best possible plan but it will not always be fast or complete.
Just like our Clients, we want fast and complete. Debtors, however, cannot always provide one or the other of these factors. They may not have the assets, cash flow or future income to do what we and our Clients desire.
We have to face facts. We can always get a Judgment, but Judgments don’t guarantee anything. In fact most of them produce nothing more than a piece of paper saying you win.
We want money, not a piece of paper. We go back to the drawing board and try to get as close to everything fast as the debtor’s finances allow. Something the answer is a slow but complete payment plan; sometimes it is fast but less than everything. We know this is less satisfying, but it is far better than winning nothing but an unpaid Judgment. You win when you get the most money possible. You lose when you get a Judgment on an insolvent debtor. You win when you focus on the money.
