YOU CHOOSE WHICH SERVICE BEST FITS YOUR NEEDS!
(click on the graphic to the right for larger view) 
FIRST STAGE Under plan A of the first stage your account is received into contingency collections and the first letter is sent withn 24 hours. Accounts not responding in 5 days go to the second stage. Plan B (optional) under the first stage allows your account to be entered into our pre-collect program at a nominal per account fee amount. The first pre-collect letter is sent to the debtor within 24 hours.
SECOND STAGE Accounts are assigned to a certified collector and the debtor is called immediately. If we determine the account is collectable, efforts will continue and monies collected are remitted to you. If needed, we will employ our skiptracing dept. to search for a new address and/or phone number from several electronic databases. Other corporate information and asset searches are also completed. If we determine that legal action is the best collection option, we will notify you promptly. You are best served if we can quickly determine which collection efforts will produce the best results for you.
THIRD STAGE With your authorization uncollected accounts will receive a demand letter and phone call from our attorney's office. Accounts not responding to our collection efforts are placed in our nationwide attorney network for legal action. Again, any monies collected will be remitted to you.
FINAL STAGE Accounts that are determined to be uncollectable for any reason, are returned to you.
ARE YOU GETTING THE GREATEST NETBACK FROM YOUR COLLECTION AGENCY! NETBACK – The dollar amount collected by the agency less the agency’s fee. (This is the standardized formula for measuring collection agency performance.)
The value of a collection agency cannot be measured soley by the fee it charges. Many agencies compete for business only on fees, but in reality many of the agencies charging very low fees are those making the least effort to collect your money. Therefore, you should consider many other factors when choosing a collection service. These factors include the Netback to you, the agency’s net cash return to you, the quality of its services, how beneficial its services will be to you, the knowledge, experience and courteous demeanor of the agency’s staff, and the accuracy, thoroughness, and timeliness of its reports.
The reason you hire a collection agency is to recover money due your company. Because different agencies charge different fees, it can be difficult to determine which agency is doing the best job. The standardized measurement used to compare agency performance is Netback and is calculated as follows;
- Amount Placed x Gross Recovery Percent = Amount Collected
- Amount Collected x Fee Percent Charged = Fees Charged
- Amount Collected - Fees Charges = NETBACK
NETBACK COMPARISON EXAMPLE Assuming: 100 accounts placed for collection totaling $25,000.
| Peerless Credit Service | Competitor |
| Placed $25,000 | Placed $25,000 |
| Gross Recovery x 60% | Gross Recovery x 30%** |
| We Collect $15,000 | They Collect $7,500 |
| Our Fee % 20% | Their Fee % 15% |
| Our Fee $3,000 | Their Fee $1,125 |
| Netback to you $12,000 | Netback to you $6,375 |
Peerless puts an additional $5625 in your pocket !
** The National average for commercial collections is 27%. For this example we gave the competitor the benefit of being better than average, and used a 30% liquidation figure. Because of our quality staff and proven techniques, our average collection liquidation is 60%. Our team significantly outperforms the competition
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