Level 1): This approach lets the debtor know that there is a third party involved. We make them aware of the problem, give them a slap on the wrist and send the message, "You need to get this paid now!!" If we need to be more aggressive at this point, your account executive will get in touch with you and let you know of the situation.
Level 2): Phone calls and letters will be made to the debtor to make them aware that serious action will be taken if the debt is not resolved right away. If we need to be more aggressive after contact has been made with the debtor, your account executive will get in contact with you and discuss further options.
Level 3): This is when we take advantage of our private investigator approach and begin an asset and liability investigation on the debtor's company.
Level 4): At this point, we go outside of our organization and get in touch with investigators in the debtor's local area. A personal visit will be made if necessary.
Level 5): We will do whatever needs to be done, within legal boundaries, to collect the debt short of litigation.
Level 6): Litigation. If all other efforts fail to produce successful results, we will contact you and discuss the steps of processing this debt legally.
REMEMBER: Less than 1% of cases that are placed with Lida Business Solutions need to be resolved legally. However, if suit seems appropriate, our legal department will facilitate the procedure.
Unless otherwise noted, collection activity will start at Level 3.
