YOU DON’T PAY A PENNY UNTIL WE PERFORM!
Not even set up costs . . .
Our contingency based fee structure ensures no out of pocket expense for our clients.
Our Debt Recovery Partner is unique in the industry in that their debt recovery solutions typically recover at least 25% MORE than industry standards. Thus adding much more to your bottom-line.
We can assure you that t hey have extensive experience recovering delinquent debt from customers, with all credit scores - fair, poor, and bad credit ratings included.
HOW DO WE DO IT?
Our Debt Recovery Specialist has Been ACCREDITED with the BETTER BUSINESS BUREAU Since 2000.
After nearly 30 years becoming a leading debt collections company, MFS has tested and calibrated a unique and robust process. Aspects of their approach include:
- MFS collection agency associates are the most experienced in the company. The typical collection associate has more than 10 years of experience with MFS. Most have graduated from MFS loan servicing or consumer finance call centers where they demonstrated consistent performance. Because these associates earn commission for every dollar collected, they are uniquely motivated to work all accounts to conclusion. Other agencies expend only minimum effort to collect, relying on a short letter series or a few phone calls.
- Additional training to become debt collectors involves:
- principles of influential communication
- strategies to overcome debtor objections
- advanced negotiation technique training
- testing in all state and federal collection standards and practices (FPCPA, TCPA, FCRA and many more).
- Assertive skip-tracing. You've probably heard of "skip-tracing" from crime shows. Skip tracers do more than search the internet for signs of your delinquent debtors. They gather and analyze information gathered from the "skip's" connections, search public records, credit records and more, all to pinpoint the "skip's" location. MFS experienced analysts can make sense of complex information to pinpoint your debtors' locations and connect one-to-one with them. It's this personal connection that gets debtors settling their debts.
- Constant state and federal regulation compliance. New laws regarding collections practices come seemingly daily. MFS has attorneys, a dedicated compliance committee, and other legal staff to update collection agents on these changes. A member of our senior executive team serves as "Corporate Compliance Officer". All collectors, no matter how long they've been with the company, undergo testing annually at a minimum to ensure they stay up-to-date with all collections practices.
- MFS emphasizes the critical nature of avoiding abusive collections practices at all costs. We test our collectors to ensure they understand acceptable practices on Federal and State laws, including but not limited to, Fair Debt Collection Practices Act (FDCPA), Unfair Deceptive or Abusive Acts or Practices (UDAAP), Fair Credit Reporting Act (FCRA), Consumer Credit Protection Act, and Gramm-Leach-Bliley Act.
- Active monitoring of all inbound calls for training and compliance purposes. With all calls recorded, unwarranted consumer complaints are easily catalogued, retrieved and resolved, and quality is ensured.
HOW OUR TOP DEBT COLLECTION AGENCY MAXIMIZES YOUR PROFITS.
Clears Backlogged Receivables and Boost Cash Flow.
Our Specialist has been honing an efficient debt recovery solutions process for almost 30 years. Every company has some bad debt annually, but the more recovered and the less written off, the higher company profits. It's always better to recover as much debt as possible than write debt off. Additionally, the IRS needs to see you're doing your due diligence. MFS's debt recovery solutions demonstrate you're making "reasonable efforts" to collect your bad debt.
Consider: if a company's margin are a typical 20%, writing $1,000 of bad debt off of $100,000 in revenues means the business must generate another $5,000 in revenues to offset that $1,000 loss. Generating that $5,000 (to win just $1,000 in profit at a 20% margin) in total sales requires materials, labor, marketing and more.
Higher business profits translate into lower loan rates, happier investors, and more respect from peers, competitors and the IRS.
THE DEBT RECOVERY SOLUTION PROCESS
Onboarding Training
Onboarding Training
Onboarding Training
our MFS sales rep assists you through getting delinquent loans onboarded to the MFS platform. You will receive specialized training on running reports, and monitoring accounts.
Collections
Onboarding Training
Onboarding Training
For each account, the agent conducts a preliminary investigation to identify debtor location and contact information. The agent works to make a one-on-one connection, the proven best way to collect delinquent funds. Collection attempts, and ongoing credit reporting continues at no charge to you.
Payment to You
Onboarding Training
Payment to You
After MFS secure the debtors payments, funds are remitted to your bank account on an agreed upon schedule.
GET HIGH PERFORMANCE DEBT RECOVERY SOLUTIONS AND...
Avoid the hassles of hiring, training, and costs to have your own workforce.
Does your company have the compliance expertise to make sure you're not breaching FDCPA, UDAAP, FCRA and more?
Our Qualified Specialist Do...
MFS has a team of legal minds who consistently stay up-to-date on compliance, so that you can avoid costly consumer harassment lawsuits and unwarranted complaints. MFS frequently updates their team of debt collectors and test these professionals to ensure they know exactly how to stay within the legal limits. Furthermore, MFS records ALL calls to provide clear legal proof in case of lawsuits or complaints.
Do your employees have specific training on overcoming debtor complaints by communicating clearly, firmly, and effectively? Or, acting as debt collectors, do they veer from their core competencies? Are they incentivized to collect past due funds?
MFS debt recovery solutions agents are not only incentivized to collect, but they have been thoroughly trained in and focus strictly on the art and science of debt collections.
If your employees or those from a less established debt collection agency are reading pre-written scripts, they don't understand FDCPA, UDAAP, FCRA and other laws well enough to make the careful calibrations to adapt to the specific situation.
Experienced debt collectors who know the laws inside and out make decisions on the spot to win the debt or at least most of it from the debtor.
The following are Industries we successfully serve, but are not limited to:
- Vacation Club Memberships & Timeshares
- Infomercial & Direct Response Sales
- Medical Devices & Equipment
- Elective Medical Procedures
- Vocational and Trade School Tuition
- Seminars and Professional Training/Coaching
- Membership Contracts including....
- Golf Course Memberships
- Health Club Memberships
- Dating Service Memberships & Other Membership Contracts
- Retail Sales - Both traditional brick & mortar, and e-Commerce including:
- Pet Stores
- Furniture Stores
- Jewelry Stores & More
- Health & Fitness Equipment
Keep in mind that MFS has nearly 30-years' experience collecting from those with sub-prime debt, also known as fair, poor and bad credit. While getting some to be responsible about their obligations can be a challenge, our debt recovery solutions team consistently helps them see the benefits of resolving this debt.
Let's seriously discuss having our team help your company recover its delinquent debt. REMEMBER, YOU WON'T HAVE TO PAY A PENNY UNTIL WE PERFORM...
Experience a Significant Increase in Your Revenue & Profit..
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