CarQuest Auto Parts

National Commercial Collection Agency - Commercial Collections for CarQuest Auto Parts.

Commercial Collections for A New Economy

The definition of insanity is doing the same thing over and over again expecting different results.

Since the beginning of accounts receivable collection, national collection agencies and debt recovery law firms have approached collections in the same manner. Collection agencies send letters and make phone calls but cannot sue debtors. So when collection actions fail they forward the cases to an attorney with the intent to file suit, which results in increased contingency fees and the addition of court costs.

In 1999 Brown & Joseph, Ltd. realized the economic environment was changing and debtors became more informed about circumventing the collection and legal process. With change, a new approach to accounts receivable recovery was needed. Industry experts were sought out, employed and given the task to create a new and innovative approach. An approach that would provide solutions to the age old methods employed by collection agencies and attorneys.

Bad Debt Recovery Process (Four Phase Process) link to the 4 phase approach (resources CQ internal)

The results of their expertise is Brown & Joseph’s new bad debt recovery process that blends credit risk assessment, the operations and technology of a collection agency with the impact of law office contingency collections at the same contingency fee range that you pay now to your collection agency!

“Why pay a collection agency when you can get the impact of a law firm for the same contingency fee you pay now to your agency and increase recoveries that average 10-15% higher!

To speak with one of the Car Quest / Brown & Joseph Representatives click here This email address is being protected from spambots. You need JavaScript enabled to view it.

Additional information links (Under Internal Resources)

Schedule of fees for service

Note:  this figure includes all amounts due to all entities other than Client; e.g., it includes amounts due to the litigating law firm

Any merchandise returned to Client by the debtor after initial contact by Brown & Joseph, will be billed at 50% of the applicable rate on the retail value of the merchandise returned.

Overview of our process

Upon receipt of B2B debt collection assignments, all cases placed for collections are credit scored and a commercial credit risk analysis is performed. This business credit intelligence is attached to the debtor information file and provides factual and critical commercial credit risk information and payment pattern trends during the collection process.

We obtain factual information about the debtor’s ability to pay and payment trends based on the past six quarters before we start the collection process.

The information contains payment history trends, state and federal tax lien information, pending laws suits, unsatisfied judgments, UCC filings, secured creditors, collection agency action, the legal business owner’s information, trending information showing whether or not the company’s payment trends are increasing or decreasing, and, their current risk factor.

Armed with this information, conversations are based on fact and not misinformation typically provided by debtor companies during the collections process to collections agencies that do not use credit and payment history information.

Using the commercial credit score and commercial credit risk analysis, files are segmented and prioritized by their predictive payment trend and balance. This segmentation rapidly identifies companies that have the financial resources available for rapid resolution and bad debt recovery. These cases are assigned to our experienced B2B debt collections specialists for the initial phase of collections through Brown & Joseph’s commercial collection agency. Companies with medium to low scores, meaning high credit risk, have a tendency to delay recovery with unsubstantiated disputes.  Most commercial collection agencies will refer these more difficult cases to outside council for debt recovery litigation, which increases contingency fees and causes their clients to incur court costs.

With Brown & Joseph, these more difficult cases are diverted to our in-house collection attorney law office for pre-litigation collection calls without increasing contingency fees or charging fixed attorney fees and court costs.

Reporting types and schedule

Our report analysts have been trained and are skilled in the use of Business Objects, Crystal Reports and the many reports available in our Collect One software.

Additionally they have extensive credit risk and credit granting knowledge and are instructed in every client’s individual profile and reporting requirements.

Our staff will work directly with you to create custom reports that will mirror your internal reports that will enable you to keep your time to manage the information flow at a minimum.

Brown & Joseph, Ltd.  also provides online access 24/7 in real time to view cases placed, the notes on the file, trust postings, when letters were sent and more.

All reports listed can be customized

•    Placement confirmation report provides detailed placement acknowledgement of what was received

•    Debtor activity report

•    Performance reports

•    Wedge actuary report

•    Trust report

•    Close file report

•    Open file report

•    Remittance report

•    Litigation progress reports

Remittance types and schedule

Net Remittance- Client receives a check for payments to B&J less our fees and an invoice is generated for commissions due on direct payments

Client gets 1 check & 1 invoice

Gross Remittance- Client is remitted a check for the gross dollar collected at B&J and an invoice for the fees on payments collected at B&J. An additional invoice is then generated for commissions due on direct payments.

Client gets 1 check & 2 invoices

Offset Remittance- Client is remitted a “net” check (payments received at B&J less our fees and deducting any fees for direct payments). If direct payments exceed B&J payments than client will be invoiced accordingly. They will have to request that any future payments/statements be offset against the invoiced statement.

Client gets 1 check OR client gets 1 invoice

Service agreement

***LINK TO .pdf***

OpenAccess for viewing your cases remotely

OpenAccess is our online web portal that allows you access to the status of your claims, live 24/7.

Client services assistance contact information

Our client service staff is located at our Headquarters in Rolling Meadows, Illinois and are available by phone, e-mail or through our website Open Access program. Each representative is trained in the aspects of your industry and has developed standard operating procedures customize for your particular service requirements.

They act as your point of contact and advocate between the various departments. All requests are date stamped and documented and entered into our service request tracking systems. This system allows management to track and manage response times to insure rapid handling and resolution.

To insure quality, we routinely survey our clients for the needed feedback to continuously fine tune our client services processes. To date or client services has achieved a 99.1% satisfaction rating measured by our client responses to our quality surveys.

Innovative 4-Phase Approach for Commercial Debt Collections

When it comes to Commercial Debt Collections, Brown & Joseph, Ltd.  goes beyond the “status quo” by providing B2B debt collections through our innovative 4-phase debt collection law firm. Statistics have proven that contingency law firm collections collect the most difficult account recovery situations faster, without debt recovery litigation and costly judgment enforcement compared to using a typical debt collection agency

In this new economy that surrounds commercial collections (B2B debt collections), companies are experiencing high trends in debt recovery litigation and elevated costs when employing debt collection firms. The rising costs of debt recovery litigation demands a change of tactics and business debt recovery solutions.

A commercial collection agency, Brown & Joseph, Ltd.  has taken the status quo of main stream commercial collections and developed an innovative 4-phase approach that increases recovery percentages, reduces the need for debt recovery litigation, and, the rising costs of litigation normally charged by litigation law firms.

Our 4-phase approach combines the best of all the practices employed by commercial credit risk analysis companies, commercial collection agencies, debt collection law firms and litigation law firms for the same contingency business debt collection fee you pay to your agency for National B2B Debt Collections.

Phase One - Commercial Credit Scoring and Commercial Credit Risk Analysis

Upon receipt of B2B debt collection assignments, all cases placed for collections are credit scored and a commercial credit risk analysis is performed. This business credit intelligence is attached to the debtor information file and provides factual and critical commercial credit risk information and payment pattern trends during the collection process.

We obtain factual information about the debtor’s ability to pay and payment trends based on the past six quarters before we start the collection process.

The information contains payment history trends, state and federal tax lien information, pending laws suits, unsatisfied judgments, UCC filings, secured creditors, collection agency action, the legal business owner’s information, trending information showing whether or not the company’s payment trends are increasing or decreasing, and, their current risk factor.

Armed with this information, conversations are based on fact and not misinformation typically provided by debtor companies during the collections process to collections agencies that do not use credit and payment history information.

The benefit is faster payment of debt, higher settlements, and less litigation because we can determine whether or not a company will default during the legal process. It does not make sense to sue a company in financial distress with unsatisfied judgments already recorded.

Knowing this, we will provide you with factual information so you can make the best settlement or litigation decisions when needed.

Phase Two - Initial Commercial Credit Risk Analysis and B2B Debt Collections

Using the commercial credit score and commercial credit risk analysis, files are segmented and prioritized by their predictive payment trend and balance. This segmentation rapidly identifies companies that have the financial resources available for rapid resolution and bad debt recovery. These cases are assigned to our experienced B2B debt collections specialists for the initial phase of collections through Brown & Joseph’s commercial collection agency. Companies with medium to low scores, meaning high credit risk, have a tendency to delay recovery with unsubstantiated disputes.  Most commercial collection agencies will refer these more difficult cases to outside council for debt recovery litigation, which increases contingency fees and causes their clients to incur court costs.

With Brown & Joseph, Ltd.  these more difficult cases are diverted to our in-house collection attorney law office for pre-litigation collection calls without increasing contingency fees or charging fixed attorney fees and court costs.

The result is these more difficult cases will reallocate their payment priority, pay your debt due and delay payment to other collections agencies or vendors pursuing debt to other companies.

After all, if the debtors owe you money, chances are they also owe others and are being pursued by several collection agencies at the same time.

Ask yourself this question: Who would you pay first if you owed a debt to a company?  A commercial collection agency or a collection attorney?

Phase Three - Internal Law Office Collection Attorney

Combining our internal debt collection law firm with our B2B debt collections reduces litigation for our clients to less than 1% of the files assigned. The results of utilizing our debt collection law firm during the initial phases of the collection process, increases bad debt recovery percentages, obtains higher settlements, reduces litigation costs and time spent in resolving the more difficult assignments, which reduces or eliminates costly judgment enforcement.

The good news is that you receive the impact of a law office collection attorney for the same contingency fee you now pay to your collection agency.

Phase Four - Debt Recovery Litigation

As a member of the Commercial Collection Agency Association section of  the Commercial Law League of America, Brown & Joseph, Ltd.  maintains a national network of experienced litigation law firms. When a debt is not paid, our internal collection law firm management team will review and recommend suit, when needed, based on factual commercial credit scores and the commercial credit risk analysis obtained in our initial phase.

The use of this B2B intelligence information and process greatly reduces the amount of non-profitable suits, judgments that cannot be enforced, litigation costs and costly judgment enforcements.

The Results

The 4-phase approach will increase bad debt collection percentages and reduce back-end legal costs which results in a positive effect on your bottom-line profits.

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