If an account is closed or has inadequate funds, the check must be collected through traditional methods: letters and phone calls. Cash Flow Solutions has partnered with a technology-driven collections company to handle our Secondary Collections. We have developed a unique methodology that focuses on returned checks, instead of accounts receivable debt which ensures that all checks are worked effectively. The collectors share our philosophy for respectful debt resolution by offereing smart and fair payment options.
This 75-day collections process also streamlines check recovery and maintains the highest level of customer sensitivity. Cash Flow continues to pay 100% of the collected check amount. The Secondary process includes the following steps:
National Check Network Reporting |
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All check writers in Secondary are also reported to the National Check Network (NCN). NCN is a verification network that prevents bad check writers from writing additional checks to its 120,000 merchant locations. Once the check writer resolves their outstanding check, they are removed from NCN's database and permitted to write checks again nationwide. |
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Custom Collection Letter |
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Collection letters containing a grayscale image of the check are sent to the check writer informing them of their outstanding debt. Letters also include a pre-paid envelope to facilitate the immediate payment of the returned check. |
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Live Telephone and Voice Messaging Campaigns |
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Trained debt resolution specialists begin contacting check writers five days after the first collection letter has been sent. The specialists are professionally trained to collect small dollar checks in a respectful, non-threatening manner. The contact campaigns are implemented throughout the work week, evenings and weekends to maximize collection results. |
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Skip Tracing |
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When collection efforts have exhausted all contact information contained on the check, skip tracing can be used to find new, additional phone numbers, addresses and places of employment to contact the check writer. We utilize national skip tracing databases, including Accurint and TransUnion, to locate check writers. |
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Various Payment Methods Accepted |
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We offer multiple payment options to make resolving debts more convenient for check writers which is important for the collection of small dollar balances. |
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District Attorney Prosecution |
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All checks that remain uncollected after the BounceBack recovery process are provided online so the merchant can pursue criminal prosecution for districts with effective check diversion programs. |
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| Call today and find out how we can continue Secondary Collections for an additional 60-days! |
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