Our Four-Phase Approach
Brown & Joseph goes beyond the “status quo” by providing B2B debt collections through our innovative four-phase recovery process. Our four-phase approach combines all of the best 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 B2B debt collections.
The result? An increase in bad debt recovery percentages and a reduction in back-end legal costs, which results in a positive effect on your bottom line.
Phase One: Credit Scoring & Risk Analysis
Upon receipt of debt collection assignments, all cases placed for collections are downloaded into our CollectOne mainframe system. The files are scored and credit risk analysis is performed. This credit intelligence is attached to the debtor information file and provides factual and critical credit risk information, asset for payment 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 seven years before we initiate the collection process. This information contains payment history trends, state and federal tax lien information, pending lawsuits, unsatisfied judgments, creditors, collection agency action, debtor’s present and past information, trending information showing whether or not payment trends are increasing or decreasing, and current risk factor.
Leveraging this information, conversations are based on the insured’s business and financial disposition.
This information intelligence becomes a permanent part of the file that is available at any phase on the collection process. The benefits are faster payment of debt, higher settlements, and reduced litigation costs because we can determine whether or not a lawsuit or settlement are the most economical and viable means to bring a resolution to the account. Within 24 hours of assignment, the file will be acknowledged to our clients and a written demand for payment will be mailed to the consumer.
Phase Two: B2B Debt Recovery
Using the credit score, credit risk analysis and balance size, files are segmented and prioritized by their predictive payment trend and balance.
This segmentation rapidly identifies those that have the financial resources available for rapid resolution. These cases are assigned to our experienced P&C collections specialists for the initial phase of collections through Brown & Joseph’s collection agency.
Files with medium to low scores, meaning high credit risk, have a tendency to delay recovery with unsubstantiated disputes. These cases will be escalated 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 the more difficult cases will reallocate their payment priority, pay your debt due and delay payment to other creditors pursuing debt to their company.
Phase Three: Partner Law Office Collections
More difficult cases are assigned to our partner law firm, which reduces litigation for our clients to less than ½ of 1% of cases placed for collections.
The results of utilizing The Leviton Law Firm, Brown & Joseph’s network debt collection law firm, during the initial phases of the collection process:
- increases bad debt recovery percentages
- secures higher settlements
- reduces litigation costs and time spent in resolving the more difficult assignments which reduces or eliminates costly judgment enforcement and filters accounts that were non-responsive to initial collection efforts but are responsive to pending litigation for failure to comply.
Phase Four: Debt Recovery Litigation
As a member of the Commercial Collection Agency Association section of the Commercial Law League of America, Brown & Joseph 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 credit and asset intelligence information and process greatly reduces the amount of non-profitable suits, judgments that cannot be enforced, litigation costs and costly judgment enforcements.
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One Pierce Place
Itasca, IL 60143