Philosophy
Balance Recovery Network, Inc. was founded to service businesses and individuals with a solid reputable service that will continuously out perform and out service other agencies by utilizing highly innovative technology
and cutting edge recovery techniques. We believe that working with our clients to achieve
their desired liquidation rates takes a strong commitment and with every client, we promise just that.
Organizational Structure
We at Balance Recovery Network, Inc. have streamlined the standard collection agency
model to increase collection activity and compliance. For every location there will be
a director of operations that oversees that office. That person will oversee the sales
representatives, accounts payable & receivable staff, clerical department, team leaders
and collection representatives for that office. For every 5 collection representatives in
that office there will be one team leader that will help with training and assist the
collection representatives in their day to day tasks. We feel strongly that this will keep our collectors at the top of their game.
(See Figure 1.1)
Figure 1.1
Balance Recovery Network, Inc. has plans to open six offices throughout the United
States to cover specific regions. Those regions will be split as follows: Southeast
(Jacksonville, FL and Atlanta, GA), Midwest (Cincinnati, OH), Northeast (Baltimore, MD),
Northwest (Portland, OR) and Southwest (Phoenix, AZ). We hope to have all six offices
running by the first quarter of 2008.
(See Figure 1.2)
Figure 1.2
Collection Procedures
Balance Recovery Network, Inc. has developed a system which we know will increase
the liquidation rates you currently receive while setting a low fee rate to maximize
the amount of money you receive back. Our finely tuned letter series is just the start
of our process. Every account regardless of balance will be skip-traced to provide
up to date information such as addresses, place of employment and contact numbers
if not collected within the first 30 days. Our collection techniques and methods are not
what you would find at your average collection agency. Utilizing the skills and tools
we have developed over the years Balance Recovery Network, Inc. has advanced techniques
which are proven to recover your lost funds more effectively than most agencies. Our collectors will use many varying
factors when handling your delinquent customer such as date of last payment, have
they been placed with another agency, account balance and etc. Our office also has enforced
a zero tolerance policy on FDCPA violations. Our employees are thoroughly trained
and evaluated on federal and state laws before they work your account. After
they are on the phones, they are monitored by a team leader who oversees only 4 representatives
to assure every step is properly taken to collect your lost revenue.
Software and Technology
We have cut no corners in bringing to you the latest and best in collections software.
Latitude, a newly developed software product by Global Software, Inc. is a top of the line product
with amazing capabilities and extensive resources. Clients have the ability to log
onto our system to review their accounts first hand and to see the works that we have
done. They will be able to log in and review their accounts or see how much we have
collected for a certain month, week or gross to date. Most agencies hide their work
while we at Balance Recovery Network, Inc. are proud and want to share it. We want your feedback
and input to allow us to better collect on your accounts and thereby solidifying our
relationship. Our server is kept off site in the Peak 10 building which can withstand
a category 5 hurricane and has numerous protective measures to ensure that your information
and our work and records will never be lost, destroyed or accessed. Our system is backed
up every night to store the work from that day to make sure no data is lost.
We, also, only use the very best services available when it comes to computers,
mailing services, skip trace bureaus and payment processing methods. Our computer network
is comprised of high performance Dell computers. We, also, have a new ComDial Multi-Line
Communications system. Our tech staff keeps our system running without a problem and
always stays on top of the most recent encryption methods and virus updates.
We are online via the Internet with Trans-Union and our collectors can receive
credit bureau records within seconds of requesting them. We, also, place the delinquent
account on your customers credit bureau file after 30 days of non payment within our office.
Client Services
Our clients are our number one priority and we know the key to a successful
business relationship is a direct line of communication. We are here and available
to you so we can achieve the liquidation rates you wish to reach and to obtain the level
of service you desire. You will also be receiving reports from us on a monthly basis
to let you know what is going on with your accounts on top of the constant
reports you will be able to access yourself. These reports can be emailed, faxed or put
through regular mail. Our fee and remittance plan varies to your company needs.
We do not hold monies longer than 15 days from the close of the previous month and our clients
will always receive their check by the 21st of the next month. So, if we collect it in June, you get it in July.
Placing Accounts
Placing accounts has never been easier. We work with our clients to come up with the
best method for getting your accounts to our system. We accept accounts via mail, fax,
electronic transfer and also have available an automatic download system via the internet.
We at Balance Recovery Network, Inc. want placing accounts with our office to be efficient
and effective.
Licensing, Bonding, Insurance and Associations
Balance Recovery Network, Inc. is licensed through the Florida Department of
Financial Services office of financial regulation as a consumer collection agency. Currently our Southeast office services clients in Florida,
Georgia and Alabama and we are licensed or registered to do business in all of those states.
Balance Recovery Network, Inc. has a One Million dollar Error and Omissions Liability
Policy through State Farm Insurance. We, also have a Fifty-Thousand dollar client
blanket surety bond which protects our client's funds that are held in our client trust
account. The surety bond is also through a reputable insurance provider. If you wish to have a
copy of either policy, please ask your sales representative and they will provide you with
that information.
Balance Recovery Network, Inc. is a proud member in good standing with many
organizations including: Jacksonville Chamber of Commerce, Florida Collectors Association
and the American Collectors Association. We continually update ourselves, our staff and our clients with new collection techniques and information. We make this dedication to you and to ourselves.
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