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Regular Collections (includes
skip tracing)
Contract Management
Letter Service
Private Pay Billing & Follow Up
Legal Referral & Follow Up
Estate Verification
Arbitration Services
Specialized Reports
Consultation/Seminars
Computerized File Transfer
Customer
Service
Regular Collections
(includes skip tracing)
Standard or Commercial Collection Procedures
- Accounts are received and entered at CBM.
- Acknowledgment of accounts is sent to the client.
- Letter notice sent out same day as listed.
- Each of CBM's letters are reviewed by an attorney and are in
full compliance with The Federal Fair Debt Collection Practices Act (FDCPA)
- A phone call is placed to the debtor within 7 days and another
call at 15 days.
- A collector begins working the account.
- The collector contacts debtor by phone.
- Collector skip traces account.
- 35-50% of accounts require skip tracing
- CBM uses our own database of over 300,000 names and addresses,
as well as credit reporting agencies, city-by-city listings and internet
skip tracing
companies to track down information about your debtors.
- Payment
- We consider success "Paid in Full".
- Credit Reporting Agencies
- CBM Reports to three major national credit reporting agencies:
TransUnion, Equifax, and Experian
- The status of the account is posted with the credit agency for
up to 6 years.
- Appropriate Further Action
- Our goal is to receive payment in full. We provide advice,
persistent contact, encouragement and creative suggestions for payment. If these efforts
don't work, we might recommend litigation.
Contract Management
In this billing service, we monitor your pre-existing payment agreement with the
patient, based on set payments each week, month, year, etc. We send monthly payment
reminders to the patient, monitor compliance with the agreement, and notify you if a
payment is missed. You determine the reporting period, which can range from bi-weekly to
annually. Contract Management is for long-term payment of debts; that is, for many
relatively small payments on a large amount. CBM charges a fee per notice sent, or a
percent of the amount collected.
Letter Service
This is our "flexible" pre-collection program. Unlike
many other such programs, we allow you to determine the number of written notices, and the
content of the message, within the guidelines of the law. This service is most advisable
when you turn over a relatively high number of accounts of a larger dollar value. CBM
bills the service on either a fee per account, or a percent of the amount collected.
Private Pay Billing
& Follow Up
CBM will work with you to develop a billing program that will meet your individual
needs. This program is for individuals without insurance or with balances that remain
after the insurance has paid. This program preceeds, and can be used in conjunction with,
our collection program.
Legal Referral &
Follow Up
CBM helps take away the hassle of suing debtors. We'll do an asset check to see
that the debtor has assets before recommending litigation, and we'll always request your
written permission.
Estate Verification
We will verify an estate for a debtor who has expired.
Arbitration Services
CBM will act as a mediator between the debtor and the client when the debtor offers
to pay off the balance for less than what is owed.
Specialized Reports
We will create and tailor reports to meet your needs. These reports are a free
service to you.
Consultation/
Educational Seminars
CBM Services will offer educational seminars occasionally on various topics relating to collections and
billing. We also have the ability to come to your location and consult with you on your
bad debt recovery at no extra charge.
Computerized File
Transfer
To ease the process of turning over bad debt accounts, CBM Services
has the capability of accepting accounts via mail, fax, modem, diskette and
the internet.
Customer Service
Our friendly customer service staff can contact your
delinquent debtors by phone calls and statements to remind them of their
obligation.
Payment plans are established by the staff and debtors re directed to send
their payments to CBM. On a monthly basis, CBM will forward the monies
collected with a statement of activity to the client. Debtors not
establishing a payment plan and/or not meeting their monthly obligations
will be referred to CBM's collection department.
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