Automotive Aftermarket Debt Collection
Automotive Aftermarket Debt Collection in Minnesota
CMCS is a commercial debt collection agency based in the United States, with a professional team that has been collecting bad debt for the automotive industry in Minnesota for over three decades. Our automotive debt collection team has the skill set, knowledge, and expertise needed to complete automotive aftermarket industry debt collection in a timely and efficient manner.
How To Choose Commercial Debt Collection Agency in Minnesota
Selecting a commercial debt collection agency with experience in the Industry can be confusing. When choosing a commercial debt collection agency to partner with you to collect outstanding debt, it is important to choose a firm that has the appropriate industry knowledge and a track record of success. CMCS specializes in debt collection in the automotive aftermarket industry in Minnesota and has the skill and follow through needed to recover such auto debt.
Collecting Auto Aftermarket Debt in Minnesota
To collect on a delinquent account, you need comprehensive, easy to access information that allows you to locate a debtor. CMCS obtains the needed information on delinquent accounts, thus, delivering results. Today, the automotive aftermarket industry in Minnesota is one of the biggest niche areas at CMCS. With close relationships with local suppliers, CMCS has been able to recover millions of dollars in delinquent debt. When you use CMCS' services in Minnesota, you can maximize your recovery dollars thanks to the teams' ability to identify, prioritize, and act on derogatory accounts.
In collecting debt for the auto aftermarket industry in Minnesota, CMCS uses a 3-phase process to collect this debt on delinquent accounts. The 3-phase process used by the team at CMCS is explained in detail below.
Credit Score and Asset Investigation
Phase 1Each debtor case begins with an in-depth, individual credit score and asset investigation. Our debt collection team obtains factual information about the debtor's ability to repay the debt, which includes payment trends based on the last six quarters before the collection process began. The team will also look for any assets the debtor may have that could be used to repay the debt.
Risk Analysis and File Segmentation
Phase 2After the initial investigation, our team puts together a commercial credit risk analysis. The analysis includes an opinion as to whether the debtor can repay the debt or not. Next, the files are segmented and prioritized based on payment trends and debt balances and assigned to our automotive industry debt collection specialists who will begin collection proceedings right away.
Forwarding Accounts to Attorneys
Phase 3While the first two phases deliver high success rates, more difficult accounts may require the experience of a debt collection attorney. If a debt is not recovered through the first two debt collection phases above, it is then sent to our legal department. When an account reaches the legal department, it is reviewed for potential litigation by experienced debt collection agencies.
Debt Collection for Auto Aftermarket Industry in Minnesota
Collecting automotive industry debt requires experience and a proven track record. CMCS has experts working on each phase of the collection process with superior work ethic. When you partner with a reputable debt recovery firm in Minnesota to collect bad debt, you will experience exceptional customer service along with positive results.
CMCS has key features and benefits that help in the debt recovery process such as tailoring your collection efforts into one single, low-source cost of collection, identifying debtors with the highest recovery potential, locating skips more efficiently, and managing the collection operation efficiently to streamline results. Contact an experienced debt recovery agency in Minnesota for automotive aftermarket debt collection today!