How We Collect

GENERAL RECOVERY PROCESS

Personal Contact

• Accounts placed with Silver & Associates will be contacted within 24 hours from the date they are received in our office.
• Accounts are assigned to Silver & Associates’ collectors based upon their knowledge and expertise in specific areas of collection.
• Emphasis is on personal contact as opposed to simply sending form letters.
• Our professional staff of collectors use a diplomatic approach when explaining the specifics regarding our representation and as to how the amount owed was derived.
• All communications are chronologically documented into our system including dates, times and details of conversations.
• Silver & Associates’ solicitations will be for payment in full. Partial payments or settlements will not be accepted without the client’s approval.
• Accounts must substantiate legitimate disputes. In a preliminary review, should the documentation not significantly reduce the amount owed, we will also solicit a good faith payment for the approximated undisputable portion. This approach significantly expedites the collection process. All disputes are submitted in writing to the clients for review if applicable.
• Silver & Associates’ toll-free phone number and fax enables debtors to directly communicate with our collectors, 24 hours a day, 7 days a week.

Customized Letter Programs

• With your special needs in mind, Silver & Associates has hundreds of customized letters that are systematically produced through various status categories.
• These letters are cost-effective and usually include a return remittance portion, as well as a return envelope to expedite the return on your investment.
• All letters, faxes, email and other electronic credit communication processes are provided under Federal and State rules and regulations.

FaxDemand™

• Created by Silver & Associates, FaxDemand™ is an electronic fax (includes hundreds of various customized faxes) which is automatically generated to the account.
• All letters, faxes, email and other electronic credit communication processes are provided under Federal and State rules and regulations.
• Once an account is entered into our system, the FaxDemand™ process begins immediately.
• Statistically over 20% of the accounts contact our office within ONE HOUR after receiving our FaxDemand ™! This is an unprecedented response time within the collection industry!
• AfterFax™ is an automated process which enables our system to continue to page, email, and fax the debtor for one year… after the file has been closed due to lack of response from the debtors.

eDemand™

• An exclusive credit communication process created by Silver & Associates, eDemand™ is an automated email message system which connects our database of accounts’ email addresses with a variety of customized electronic letters.
• Once an email address is entered into our system, the eDemand™ process begins immediately
• All letters, faxes, email and other electronic credit communication processes are provided under Federal and State rules and regulations.
• With an ever increasing web population, eDemand™ is a more efficient and effective means of communicating with debtors

SmartPage™

• Another original Silver & Associates automated communication process, SmartPage™ is an electronic page generated by our system, leaving our name and toll-free number on the debtor’s pager
• Contractors, medical staff and a variety of other industries continue to rely on pagers and with SmartPage™ our system continually contacts the debtors’ pagers with our name and toll-free phone number
• A recent test audit of the effectiveness of SmartPage™, 100 debtors’ pager numbers were entered into our system and in 45 seconds all 100 numbers were automatically dialed and within 1 hour, 80% responded to the page

Internet and Online Access

• As the first online collection agency, Silver & Associates provides most of our clients with secure internet access to their account information and are able to view all of the collectors’ notes, including details regarding conversations with debtors, any legal proceedings, disclosed research and payments
• We work directly with your staff to help them understand the Silver & Associates’ online collections program with our simple step-by-step guidelines and tutorial.
• Silver & Associates carefully monitors and responds to all queries sent to info@silverassoc.com
• We maintain a database of over 70,000 agents, 4,500 insurance carriers and we are online with all of the Commissioners for all State Departments of Insurance.

Remittances

• Silver & Associates will remit funds to clients in 10 working days

Reporting

• Complete online capabilities allow us to customize statistical reports per client’s needs
• Customized reporting vastly reduces the paper ‘monster’ and unnecessary administrative time and expenses

Fees

• All fees are contingent: No collection – No charge
• For details on fees, both International and Domestic, please contact us directly at 1-800-818-8848 or info@silverassoc.com

Protocol Prior to Litigation

• Secretary of State Inquiries: Through our online access to the Secretary of State Corporations Divisions, we attempt to confirm the status of the debtor’s corporation. Results often determine whether the claim should be litigated as a personal vs. corporate liability. Many states also disclose the names and home addresses of other officers.
• Credit Reports: Credit reports are attempted on most files before recommending litigation. Clients are always advised of any adverse material or derogatory credit information at no additional cost.
• Debtors with P.O. Boxes: If a debtor’s address of record is a post office box, we will request the local postal authority to disclose the physical address that is registered. P.O. Boxes or Lock Boxes are serviceable addresses.
• Potential Counter Claim: All debtor disputes are carefully reviewed to reduce exposure to potential counter claims. No file is recommended for suit until disputes are refuted.
• Testament to our successful pre-litigation resolution, Silver & Associates litigates on only 1/12 th of the files that most conventional collection agencies would take to court.

Local Attorney “No Suit” Collection Service

• When all recovery efforts have been exhausted and a debtor balance does not warrant litigation (*Most often anything under $2,000.00) accounts are closed and yet, Silver & Associates is able to provide another solution called the local attorney “no suit” collection service.
• We have established a nationwide network of hundreds of attorneys who have agreed to make additional verbal and written attempts upon the debtor for a contingency fee only - without authorization to sue.
• Accounts are electronically sent to the attorney with instructions to collect or close in 60 days.
• To compensate the absence of not having the leverage of a lawsuit, the attorney’s contingency fee gives them the incentive to more aggressively pursue your accounts.
• The additional influence of an attorney in the debtor’s area has proven highly successful, without incurring the cost associated with litigation.
• Frequently, these attorneys may personally visit the debtor’s place of business and will utilize every local resource & influence to contact any and all responsible parties related to the debtor.
• Clients can request that this service be incorporated on accounts with advanced authorization.

Attorney Services

• A network of attorneys from around the country are selected based upon their knowledge of our client's business and location
• All efforts are taken to use attorneys who do not require advanced non-contingent suit fees
• Forward accounts, including small business, for non-litigation services on a contingency basis
• Attorney correspondence will be edited and summarized in order to simplify the information
• Silver & Associates legal resources include onsite Paracollector™ assistance, an up-to-date library of applicable state statutes, as well as information on all state and federal laws governing collection agencies
• We fully comply with all state and federal laws governing collection agencies including the Federal Fair Debt Collection Practices Act
• Silver & Associates is a member of the Commercial Law League of America

In-House Library

• Silver & Associates maintains an elaborate, up-to-date reference library, including NCCI Scopes manual and various resources from ISO’s PAAS (Premium Audit Advisory Service)

Associations & Accreditations

• Silver & Associates, Ltd is a member of the
• Commercial Law League of America (CLLA – www.clla.org)
• Commercial Collection Agency Association (CCAA - www.ccaacollect.com)
• Association of Credit & Collection Professionals (ACA International – www.acainternational.org)
• Insurance Accounting & Systems Association (IASA – www.iasa.org).

Company Generated Reports

• Silver & Associates has the unique ability to format status reports using any criteria requested by the client and may be submitted via mail, fax or online.
• We guarantee the availability to deliver any reasonable customized report within 72 hours. The innumerable ‘standard’ reports are immediately available.
• For more information, please contact your Silver & Associates Service Representative @ 1-800-818-8848.

Current Recovery Experience/Results

• Silver & Associates maintains an unparalleled 70% national average recovery on commercial insurance and business to business debtors.
• The recovery rate will vary depending on age of debt, geography, complexity of the debt and the nature of any disputes. The average recovery time is 48 days.