At Financial Control Services we recognize the delicate nature of the accounts entrusted to us. It has always been our philosophy to treat both our clients and their patients fairly and compassionately". We have a reputation to maintain . . . YOURS!
@Client Services uses the power of the internet to expand our abilities and services to our customers needs from anywhere in the world. Using an internet connection and browser our clients have full access to our system 24/7 to communicate effectively.
Telephone Monitoring System:
At FCS all inbound and outbound telephone calls are recorded for quality assurance and training purposes. These calls are available to our clients for their review.
Credit Scoring:
FCS uses an automated, online scoring system with Experian. Scoring allows our office to verify a debtor's telephone number, and/or address, available financial reports and more.
Benefits of using FCS:
- Reduced overhead
- Increased cash flow
- Increased productivity
- Maximizes profitability
Frequently Asked Questions
Why should I use a professional debt collection agency?
The use of a reputable collection agency provides the following benefits:
- Reduced overhead
- Increased cash flow
- Increased productivity
- Allows your staff to handle the more important functions of their jobs
- All staff is tested and trained in the FDCPA/FCRA
- Relieves your staff of the burden of chasing after what is due you
- Maximizes your profitability
How much does your service cost?
There are no upfront costs associated with our collection services. Our office works on a contingency basis, based on a negotiated percentage rate. While our rates do vary, we always strive to give our clients the most competitive rates depending on such factors as the average age, balance and type of business it is.
How can I assign accounts to your agency?
Financial Control Services offers a variety of convenient ways to place your accounts including:
- Fax
- Electronic File Upload
- Can be entered by your office directly into our system via our Client Services Portal
How does my company get paid?
At FCS, we choose to keep a separate "TRUST" account for the monies that we collect on your behalf. On the last working day of each month, our office will generate and issue your office an Itemized Statement of all payments collected, as well as issue you a check from our Trust account for what we have collected.
When and how often do you report to the Credit Bureaus?
FCS is online with the nations three credit bureaus. With our client's permission, after 60 days we report any delinquencies to TransUnion, Equifax and Experian. We continue to report to them every 30 days after that.
What are the time constraints on placing an account for collection?
In the State of Texas, there is a 4-year statute of limitations on placing an account for collection.
Is there a minimum dollar amount that I can place with your office for collection?
Yes, we accept any balance that is over $50.00.
What if I receive a payment in my office once an account is placed for collection?
Simply deposit that money as you usually would in your office and simply report that the payment has been made to you. We will bill you for our fee at the end of the month.
When should I place an account for collection?
The sooner the better, although typically once an account becomes 3–6 months past due.
What does a typical collection agency do for their clients?
Oftentimes creditors cannot locate consumers who have moved or changed their phone numbers. The first thing a collection agency must do is obtain the consumer's current address and phone number through a process called skip tracing. The collection office then sends the consumer a series of notices that allows him or her to dispute the validity of the debt and/or request verification of the debt. Once the notice is received, a collector will begin making telephone calls to the consumer to ask for full payment of the debt. If payment in full is not possible, then the collector works with the consumer to make satisfactory arrangements on the balance.
What information do you need to collect on my accounts?
The more information that you can provide, the easier it makes it for us to collect what is due you. At a minimum, we would need the debtor's name, address, phone number, SS# (if available, for credit reporting purposes), the Date of Service as well as the amount owed to you.
