Collection Procedures

General Procedures. All client accounts placed on a given date are entered into our system. Our computer system automatically generates two letters during the first 20 days after placement. The first letter has a 10-day waiting period, and the second letter has a 5-day waiting period. After this initial 15-day period, accounts are systematically placed in a regular collection status and are assigned to our collectors, who are charged with collecting accounts in full. Collectors may attempt to collect accounts verbally, send additional letters to the debtor, initiate skip tracing, or initiate a request to one of our managers to file suit against a debtor.

Acknowledgement. After accounts are entered into our computer system, an acknowledgement listing that contains debtors' names, account numbers, and the balance owed is mailed to our client.

Health Insurance. Many of our clients are healthcare organizations whose debtors have accounts with unfiled health insurance claims. In many cases, we can help debtors file these claims if we have an authorization from the debtor, a billing address, Tax ID number, billing ID numbers, and the debtor's patient statement. After an attempt to collect an unfiled insurance claim, the debtor is still responsible for any unpaid balance on the debtor's account.

Subcontracting Collections. FAST does not subcontract collections work.