In today's difficult economic environment, businesses need to take a fresh look at the potential value in monies owed to them. There is, more often than not, still some worth to be gleaned from non-performing assets! Consumer debt, or personal lines, can actually become more valuable over time due to the fact that many of the reasons the debt was incurred (e.g. the loss of a primary or secondary income) are easy to identify. Therefore once the reason for the debt has changed (e.g. a new job is obtained), it is then possible to work with the debtor on a way to have the debt reconciled.
Pick the Right Partner
It is critical to your company and customer relations that you sell to a debt purchaser that will understand and be ready to protect your valued brand and business. You need a partner that knows the insurance industry, understands your business and values, and has the overall servicing capabilities to work through your debt in an efficient and effective manner. Understanding the servicing strategy and tools (i.e. credit reporting) being implemented by your debt purchaser will ensure a strong and mutually beneficial business partnership.
When Reputation Matters - Choose The Receivable Management Services Corporation (RMS)
RMS can proudly trace its history back to 1841, as the original collections division of D&B, with over 80 years serving the Insurance industry. Today, as an independent company, RMS has a global scope with a strategic focus on the Insurance Industry. With over 3,300 associates worldwide, RMS services approximately 20,000 customers including:
- 7 of the Top 10 U.S. Property and Casualty Carriers
- 5 of the Top 10 Health Care Insurance Carriers