- Immediate Collection – When you place an account with VML, collection action begins immediately. A VML collector is assigned to work all accounts you place with us within hours and reports details of developments on all claims placed constantly. Our unique VML Collections Process™ and our on-line Customer Care Portal both assure professionalism and results.
- Local Attorney Involvement – Uncooperative debtor accounts can be referred, with your approval, to VML’s Legal Department and our Preferred Attorney Network; a collection attorney near your debtor will make demand for payment and will provide a recommendation with suit the final step in the collection process. VML works hard to make sure an investment in suit will be productive and not simply throwing good money after bad. Their local collection attorney relationships are maintained through our certification by the Commercial Law League of America.
Final Demand Service
– When sent, a VML Final Demand notice establishes a deadline for payment in the mind of the debtor and can often be effective in prompting payment. There is a minimal charge if the account is paid on or before the deadline. We will also contact you on the deadline date for authorization to proceed with collection.
- Pre-Collection Letters – A prompt to payment that often works are dunning letters. A series of letters on VML letterhead are sent demanding payment or a satisfactory response. Cost is determined by the number of letters sent per month.
- Accounts Receivable Management – “We’re on your team, but not on your payroll”. VML will make collection calls in your company name according to processes that match your corporate standards. You pay a monthly charge determined by the number of accounts worked each month.
- Experian Credit Reports Analysis – Selecting from two different reports on SmartBusinessReportsTM, and utilizing our industry membership, we will pull each report designed to help you evaluate potential credit risk and aid in collection strategy. As important as the report, we add our analysis and help you to “read the tea leaves” in the information to guide you toward the best course(s) of action.
- Credit Inquiry – A free service to our clients in which the proprietary VML debtor database is accessible to determine current or previous experience.
- Educational Services – VML assists companies in the evaluation and review of their credit and collection procedures and, from our experience with “Best of Breed” departments, we make suggestions that help your structure, process and personnel to be the best possible (see also “How We Educate Your Staff”).