Frequently Asked Questions
What are your rates?
What kind of collection results can I expect?
If your home base is not located in my city, how can you help me?
What information do you need in order to collect my debts?
What are your collection methods and procedures?
When will I get paid?
How do I sign up for your services?
Why use Dynamic Recovery versus an attorney to collect our past due accounts?
What about small or few accounts?
The chart below shows the typical Collection Agencies’ decreasing expected rate of return as accounts are aging. However, our return rates and ratios have always been historically higher.
Our collection operations are nationwide. All contacts made to collect your money and client communications are done by mail, phone, fax and email and we have a nationwide network of collection attorneys that are available in all locations. So, in reality, it does not matter if we are across town from you or half way across the country. With modern communications, it is the results you receive that really matter.
All contact information, including emergency phone numbers or anything else you may have, and of course the amount owed, date services were incurred and a brief description of services or goods provided. Don’t worry if you do not have all of the debtor’s information, our national data base skip-tracing procedures will fill in the blanks so that we can quickly locate the responsible party. You may furnish us this information in any way convenient to you, including data transfer, via email or FTP site, excel spreadsheets, or printed out in any method convenient to you. We will pay for FedEx to pick up your data, if it is in paper form.
We guarantee that your accounts will be worked quickly, professionally and with utmost courtesy.
- When we first receive your accounts, they immediately go into our system. Next, our system checks and verifies all contact information through a national database. This gives us the latest and most current address, phone number, social security number and date of birth of the individuals we will be contacting to collect your money.
- A first notice is printed and mailed demanding payment in full and also stating that if payment in full is not possible, then contact us to establish a payment plan.
- The accounts are transferred to the collectors who begin making phone calls in order to receive payments by check, credit card or any other method possible.
- If no payment or payment plan is established within 30 days, we will report them to the credit bureaus.
- We continue with a series of letters and phone calls until payment is made.
- At your discretion, we will recommend, for your approval, legal proceedings if the above actions produces no results.
You can also see our how it works page for detailed information click HERE!
Reports are generated at the end of each month for all monies received during that month and you will receive a statement with a check within 15 business days after the close of the month. Reports and payments can be made more often, if desired. You will also be given online access so that you may check the progress of your accounts daily. In some instances remittance may take a longer dependent on the situation.
Please contact one of our recovery advisors at 888-526-3007 or by submitting your contact information. “Contact Us” with a brief description of approximately how many, what type and dollar amount of accounts that you would like to place in collections so that we can describe our services to you and ensure we are a good fit for your organization. We will then email or fax you our information packet and agreement for you to sign and fax back. This quick procedure will immediately set up an account for you in our system.
Or you can fill out our simple form to submit your debtor’s information located HERE! Submitting electronically allows us to begin working your case immediately.
Of course, one of the most important things to consider is cost. Most attorneys charge on an hourly basis, thereby increasing your costs if the account is ultimately uncollectable (Dynamic Recovery works on a contingency basis only. If we don’t collect, you don’t pay). In addition, Fidelity offers 20 years of expertise when it comes to collecting past due accounts. Nonetheless, should your account require legal attention, it can be handled by attorneys who are contracted with our office and specialize in collections. Since our attorneys are set up to handle this type of litigation, they have a far better recovery rate and obtain faster results than attorneys who do not specialize in collections. Lastly, we have attorneys in our network within every jurisdiction in the world.
Most new clients will start us off with 10 to 500 accounts or more to work on. If you only have a couple accounts, it costs you nothing to place your claims we work diligently on all size cases from $10.00 to $10 million dollars our goal is to put your money back where it belongs, in your pocket. We using a sliding scale on our contingency commissions to ensure our collectors work each case big or small ALL accounts will get our best efforts!