FAQ’s

Frequently Asked Questions

HOW QUICKLY DO YOU GET STARTED?

• DAY ONE – the referral (account) is received and data processing enters the information into our system.
• DAY TWO – Acknowledgments sent to client listing the referrals placed, the dollar amount, and the age of the referrals. The validation notice is also mailed to the debtor.
• DAY THREE – the account is then assigned to a collector and coded "Priority New Business" which ensures it will be one of the first ones worked that day.

“WHEN DO YOU CLOSE AN ACCOUNT?”

• Unless special circumstances occur, the account remains open until the statute of limitations has expired. Any new accounts received on the same debtor from another creditor, are linked with all accounts providing new information to obtain balance in full.

“WHEN IS A BALANCE TOO SMALL?”

• All accounts will have a demand letter sent for payment regardless of the balance. If MSB has other accounts in the system for that debtor, the account will be linked with the account regardless of the size and assigned to a collector to be worked.

“HOW AND WHEN DO YOU DO AN ASSET SEARCH?”

• When the collection staff has determined that the debtor is not going to pay voluntarily, MSB will search for assets before recommending suit for the best possible return from legal action. Each account must be approved by the client before the litigation process will proceed.

“HOW DO YOU GUARANTEE QUALITY?”

• The collection staff is audited randomly by our collection floor managers. The managers listen in on active calls, which guarantee real-time assurance. Weekly random written audits are completed and reviewed by upper management. Daily and weekly training, video instruction, as well as role playing are also implemented. All calls are recorded and can be reviewed and audited by management.

“HOW DO I KNOW WHAT’S GOING ON WITH MY ACCOUNTS?”

• Robust online portal access allows clients to check account status, submit payments, and view payment history.
• MSB can supply customized reports for those not readily available via the portal.
• Quick and responsive customer service representatives are available to answer questions.