SERVICES
If We Don't Collect, You Don't Pay!
Our Coverage is nationwide. We are diversified, providing service to clients in the following fields:
MEDICAL - COMMERCIAL - RETAIL - UTILITIES - EDUCATIONAL
Your needs as a potential client are carefully analyzed. We execute against a service strategy while maintaining your high standards of good will.
MONTHLY REPORTING
We provide our clients with a monthly report, reflecting all recovery activity. In addition, we produce a report showing the total assignments and the recovery percentages realized to date. This report is available periodically as requested.
Payments received by Northern Financial are deposited to a trust account in accordance with Massachusetts regulations. This trust account is subject to an audit by state authorities at their discretion.
PRE-COLLECTION SERVICE
We offer our Clients pre-collection notices. All payments and correspondence are directed to the clients office. Our clients find these notices particularly appropriate for their accounts that may represent repeat business. The rate for these notices range from $10.00 to $15.00 depending on the assignment value.
SYSTEM & ADDITTIONAL REPORTS
Northern Financial utilizes a state of the art collection system. It is capable of producing a variety of reports, in addition to the standard production reports cited above.
These reports include;
- Debtor status report
- Debtor acknowledgement report
- Debtor cancelled report
- Client assignment report
- Client recovery report
- Client inventory report
- Client, monthly, quarterly, and yearly report
CREDIT BUREAU REPORTING
Reporting delinquent accounts to a nationwide Credit Bureau is proven leverage that will enhance the net-return. Northern Financial is a member subscriber to EXPERIAN, and EQUIFAX. Information gained from these sources can be used to locate a debtor or form a financial profile of them. If a debtor is reported as a collection account, it is done so in the name of our client. Northern Financial is on line with the Credit Bureaus.
SKIP-TRACING
The process of developing information about skip-accounts for the purpose of locating and retiring a debt. The importance of skip-tracing is that:
- One person in every five moves to a new address every year.
- Determine the debtor's employment stability.
- Determine if there are other accounts and their payment history.
- Review the debtor's credit limitation.
LEGAL SERVICES
Northern Financial utilizes the services of a collection attorney, should that step become necessary. Our attorney specializes in litigation particular to delinquent accounts. Suit authorization is submitted to our client for review and once authorization is obtained the account is placed with the attorney.
FEES
Our fee schedules are independently designed based on the age and volume of the assignment(s). Our service agreement contains a complete disclosure of the mutually agreed upon fee schedule. There are no hidden fees or any additional charges.
ASSIGNMENT PROCEDURES
Northern Financial guarantees all accounts assigned to us receive the full range of collection effort. No account regardless of age or size will receive preference over others.
Assignments are accepted via tape medium, fax, on our assignment form, or from your computer print out. Once the assignment has been received, an acknowledgement report is sent, and collection procedures begin.
MEMBERSHIP
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