How Debt Collection Works
How Does A Collection Agency Get Your Account?
A consumer transaction takes place:
At a store with a check, debit card, or credit card;- At a medical facility where a patient or guarantor is billed after an insurance company processes a claim;
- A contract is created where both parties agree to service such as auto repair work, home appliance repair, or home maintenance repair (furnace/air conditioning).
After the good or service has been provided to a consumer, for some reason payment is delinquent. The causes behind delinquent payments are many, from an accidental bounced/NSF check, a misfiled insurance claim, to a consumer just not having the money.
When the service provider opened their business, their intent was to provide a good or service and get paid for that good or service with a reasonable profit. In many cases, that business doesn't’t have the resources to employ an ‘accounts receivable department" to try to recover money owed to them for the goods or services they provided. That is where Oliver Adjustment Company comes in.
Our Approach to Debt Collection
We are a collection agency that provides a service for other businesses that just don’t have the staffing resources to recover outstanding accounts. At Oliver Adjustment Company, we don’t ‘buy’ outstanding debt to collect. We offer a "contingent" collection service, that is, we don’t get paid until we perform the actual recovery of a delinquent account for the business that hired us. We are like partners in that sense.
Our goal at Oliver Adjustment Company is to collect an account as efficiently and professionally as possible. When a debtor speaks to one of our collection professionals, they will be asked several questions. Among these are questions about current address and phone number, date of birth and social security number, place of employment or a spouse’s place of employment. Not only do we need to verify that we have the correct party and location information, but we try to get a sense of a debtors financial situation. This helps us to determine the most efficient way to clear up a debt.
Our goal is to be a collection agency that produces for our clients, while at the same time treating debtors with respect. Too often consumers have experienced the heavy handed approach some less then reputable agencies employ. We believe sincerely in working with debtors to determine solutions to help you clear up their debt. When a bill is paid, everybody benefits, the business that provided the goods/services, the consumer, and the economy as a whole.
