Recoverability Timeline - The older an account, the less recoverable
Early Intervention – Key to Successful Collections
According to the U.S. Department of Commerce, the older an account, the harder it is to collect.The GreenFlag System is uniquely designed to work accounts earlier – when they’re more collectible. Most businesses wait too long to turn accounts over to a collection agency because:
- They want to avoid the high cost of traditional collection agency services
- They fear alienating potentially “good” customers
GreenFlag works because - it offers a Low, Flat Fee averaging $10 per account versus a high percentage; and provides a diplomatic approach that collects money and keeps the customer.
Our early intervention collection system delivers higher recovery rates:
- 56%* at an average cost of 4 cents on a dollar, compared to 14% collected by traditional agencies at average cost of 33% per dollar collected
- Consistent approach on all accounts regardless of balance
GreenFlag clients receive 4 times the recovery rate at about 1/8th of the cost! Prove it to yourself!
*56% recovery rate is our company average.
Example: 100 accounts over one year at:
- 90 days = 26% are uncollectible
- 120 days = 35% are uncollectible
- 6 months = 70% are uncollectible
- 1 year = not worth the paper they’re printed on
