In-House Debt Collections, TM Building

With billions and billions of dollars in debt worldwide, both creditors and collection agencies are feeling the pressure. Debt collectors looking to recover outstanding receivables must employ techniques that will encourage debtors to pay.

  • Overview With billions and billions of dollars in debt worldwide, both creditors and collection agencies are feeling the pressure. Debt collectors looking to recover outstanding receivables must employ techniques that will encourage debtors to pay. Successful debt collection and outstanding receivables collection techniques will help the collector get the account settled immediately, while still being mindful of the laws that protect debtors.
  • Background TM Building Damage Restoration, a licensed general contractor located in Tucson, Arizona for over 30 years. The company has a part owner with a dynamic and energetic person who serves in two capacities; Marketing Director and In-House Collections Manager. She faces many challenges and frustrations as an in-house-collector. She frequently encounters many excuses from client’s delinquent in paying their invoices. Excuses include, “I never received a bill”, “My invoice was incorrect”, or “TM Building Damage Restoration [allegedly] didn’t do all of the work”. She feels that approximately one-third of her cases were downright fraudulent.
  • Solution In 2012, TM Building enlisted the assistance of The Stevens-Lloyd Group, Inc. to help tackle their commercial debt recovery problem. The Stevens-Lloyd Group helped create and implement a program which proved successful in recovering nearly all of TM Building Damage Restoration’s outstanding receivables! Some of the tactics used in helping collect the commercial debt included:
    • utilizing an extensive phone log to keep detailed call records
    • conduct research on her customers utilizing TM Building’s database
    • calling weekly on all accounts 30 days past completion
    • focused mainly on receivables between the $7,000 to $9,000 range
    • asks for payment in full
  • We were happy to assist our client in crafting an in-house debt collection process. That is just one of the services we offer at Stevens-Lloyd Group. For more information on other techniques please read https://www.stevenslloydgroup.com/debt-recovery/collection-agency-credit-managemet-recover-outstanding-receivables/ The key to our success was perseverance and know-how from our collectors and attorneys in Florida and California. As a result, the Stevens-Lloyd Group was able to effect payment in full for GM Air on an account which would’ve been written off by our client or a less effective commercial debt recovery firm.
  • Recommendation
    Team up with a world-class commercial debt collection agency to help recover unpaid debts and institute an effective debt recovery system. In our experience, successfully collecting on past due accounts has a lot to do with the expertise of the collector. The more seasoned the collectors, the better the results. For companies without internal collection expertise we recommend turning accounts over sooner, 60 – 90 days. For larger corporate companies with experienced collection teams, we recommend turning over past due accounts at 120 days. If you have accounts that are over 180 days past due, we recommend IMMEDIATELY turning them over to a collection professional. Remember, the likelihood of collecting drops to 50% Between 6 – 9 months past due.

 

Air Philippines Debt Collection

he Stevens-Lloyd Group was retained by GM Air, a commercial aviation company which specializes in supplying the military, located in Miami, Florida. They were owed $146,588.32 from Air Philippines, located in Manilla. GM Air provided aviation parts for this company however they were not paid for their product.

  • OverviewThe Stevens-Lloyd Group was retained by GM Air, a commercial aviation company which specializes in supplying the military, located in Miami, Florida. They were owed $146,588.32 from Air Philippines, located in Manilla. GM Air provided aviation parts for this company however they were not paid for their product.
  • BackgroundThe situation and complication faced by GM Air was that despite many attempts to recover the money, Air Philippines continued to break promises and ignore our client’s demands for payment. Hence, GM Air asked The Stevens-Lloyd Group to assist them in recovering the debt in the amount of $146,588.32.
  • SolutionThe Stevens-Lloyd Group went to work immediately and started an asset and liability investigation on AIR PHILIPPINES. We deployed consistent collection pressure against the debtor company however they continued to stall and avoid the issue. It was time we utilized our network of expert debt collection attorneys. GM Air granted permission to The Stevens-Lloyd Group to work with our law firm of Rosenfeld, Stein & Batta in Miami. Through extensive investigation, we determined that Air Philippines owned an aircraft outright on the ground in Los Angeles, CA. The Stevens-Lloyd Group and our Miami law firm retained the firm of Martin Goldman, based out of southern California. Mr. Goldman grabbed the plane by placing a lien against Air Philippines’ aircraft, effectively rendering the plane immobilized on the ground at LAX. Thus, Air Philippines had no choice but to pay our attorneys $146,588.32 to free the aircraft. The windup is that The Stevens-Lloyd Group, through deploying advanced debt collection practices as well as our experience in the aviation industry, recovered the entire amount owed to Gm Air of $146,588.32. Our team’s successful outcome was accomplished within four months of intense collection activity.
  • The key to our success was perseverance and know-how from our collectors and attorneys in Florida and California. As a result, the Stevens-Lloyd Group was able to effect payment in full for GM Air on an account which would’ve been written off by our client or a less effective commercial debt recovery firm.
  • RecommendationHire the Stevens-Lloyd Group in connection to international debt recovery for files over 90 days past due. This will help ensure that outstanding amounts are paid before it is too late. As debts age, they become considerably less collectible. Therefore, it is our recommendation that because time is the enemy of the debt recovery process, our clients place past due debts with The Stevens-Lloyd Group as soon as debtor companies ignore demands for payment and/or break their promises.

Inversiones Zahena SA/Moon Palace Debt Collection

The Stevens-Lloyd Group was retained by BANOMOBIL SA DE CV, a highly successful company of more than 40 years in the field of plastic reinforced with fiber, located in Mexico City. They were owed $550,000.00 from a company by the name of INVERSIONES ZAHENA SA/Moon Palace, located in the Dominican Republic. Bañomobil designed and manufactured a line of portable toilets for INVERSIONES ZAHENA SA however they were not paid for their product.

  • OverviewThe Stevens-Lloyd Group was retained by BANOMOBIL SA DE CV, a highly successful company of more than 40 years in the field of plastic reinforced with fiber, located in Mexico City. They were owed $550,000.00 from a company by the name of INVERSIONES ZAHENA SA/Moon Palace, located in the Dominican Republic. Bañomobil designed and manufactured a line of portable toilets for INVERSIONES ZAHENA SA however they were not paid for their product.
  • BackgroundThe situation and complication faced by Banomobil that despite many attempts to obtain the funds owed to them, INVERSIONES ZAHENA SA continued to break promises and ignore our client’s demands for payment. Hence, through a referral from another satisfied customer of The Stevens-Lloyd Group in Mexico, Banomobil asked our firm to assist them in recovering the debt in the aforementioned amount.
  • SolutionThe Stevens-Lloyd Group went to work immediately and contacted INVERSIONES ZAHENA SA as well as hiring a private investigator to conduct an asset and liability investigation. Through a combination of persistent continuous daily telephone calls, emails, demand letters from The Stevens-Lloyd Group and its attorneys in Mexico as well as negotiation and mediation, we were able to obtain settlement for $396,452.07 within four months of work.
  • The key to our success was perseverance as well as consistent pressure from our collectors. Moreover, by utilizing strong legal demand letters from our attorneys and assistance by our contacts at the American Embassy in the Dominican Republic, the Stevens-Lloyd Group was able to effect payment for BANOMOBIL SA DE CV.
  • RecommendationINVERSIONES ZAHENA SA was placed with The Stevens-Lloyd Group by BANOMOBIL SA DE CVon April 7, 2010 and we effectuated payment on July 12, 2010, assuring that the debt was paid to our client before it was too late. As debts age, they become considerably less collectible over time. Therefore, it is our recommendation that since time is the enemy of the debt recovery process, our clients place past due debts with The Stevens-Lloyd Group as soon as debtor companies ignore our client’s demands for payment and/or break their promises.