In-House Counsel Handling
Years ago, we noticed how sometimes a debtor would pay, just because their account was escalated into the hands of an outside attorney. But when that happens, the rate our clients pay is higher and the portion of the fee that CST Co. gets is less, due to what the outside attorney charges.
Often our highly trained and experienced adjustors are successful in the resolution of the collection account. However, when they are unable to successfully resolve the matter amicably, CST Co. has an additional layer of service not provided by all commercial collection agencies that has proven to be both effective and economical for our clients.
Our in-house counsel reviews and works each account prior to an account being forwarded to an outside attorney. As a licensed attorney at law, our in-house counsel is often very effective in the resolution of many of the balances which eliminates the additional cost of forwarding as well as the potential cost of litigation.
Since we can sometimes collect the account without the efforts of an outside attorney, it can actually lower your collection costs. This extra level of service is another reason why CST Co. is Your Key to Collections. CONTACT US for more information on this value-added service.
Process Server Demand Service
Recently, we were looking for a way to make a stronger impact on larger balance accounts that are placed with us. Post-Covid, it is tougher to make personal collection calls, but we make the attempt when warranted and practical. But sometimes the debtor makes it difficult to see them and leaving a message or note with the gatekeeper may not have the impact we want.
This has led us to an idea for making a greater impact. We have a process server act as our courier and hand deliver a letter from our in-house attorney.
On accounts over $25,000 that are in the hands of our in-house attorney, CST Co. will have a process server deliver a final demand letter from our in-house attorney and take a picture of the debtor’s location as confirmation that the letter has been delivered.
On accounts over $25,000, CST Co. will completely cover the cost of this service. If a client wants this service on files with balances less than $25,000, the client will pay the fee, but if it results in collection on the file before an outside attorney is involved, the cost will be credited toward CST Co.’s contingent fee. If the account is under $5,000, the client covers the cost for the process server separate from the fee on the file.
This unique extra step is proving to have a positive impact. To find out more about it, CONTACT US for more information.