Debt Collection
Working Harder/Working Smarter
We here at GrindStone make your debt top priority! See below for what sets us apart from our competition and why we at GrindStone are known for "Working Harder and Working Smarter".- Hit Ratio
Hit Ratio
With GrindStone Collection Strategies, you can expect a higher hit rate than any other agency. GrindStone has strict internal review protocol which requires its collectors to make contact by phone at a minimum of three times per week on every account. In many cases your debtors will be contacted daily. Collection managers review files weekly to ensure maximum contact is being made. Collectors and investigators are paid on a bonus and commission plan, giving them the incentive to collect as much as possible. - Letter Series
Letter Series
"Out of sight, out of mind" will not be an excuse your debtor gives for not paying their bill. Automatic collection letters are sent throughout the month. The GrindStone "Letter Series Program" will keep your name on their mind. - Investigations & Litigations
Investigations & Litigations
At GrindStone our goal is to keep your account out of the courtroom. With our nationwide network of investigators and attorneys your debtor will be contacted from every angle possible to bring this account to closure.
Investigators- As needed, GrindStone will send out private investigators to the debtor’s doorstep. This will move your invoice to the top of their priority list, and will also give us an idea if there are assets, should the account require litigation.
Local Attorneys- GrindStone routinely uses local attorneys in the debtor’s jurisdiction to send demand letters. These letters are sent as part of the collection process, at no additional charge. Communication from a local attorney lets the debtor know that we have "local legal representation".
GrindStone Legal Dept- Should collection efforts be exhausted, a thorough review of the debtors financial stability, credit reports, collection notes and PI reports will be conducted to determine if the account is worthy of litigation.
The following legal services are provided for all GrindStone legal accounts
• Suit recommendation letter
• Legal forwarding to local attorney
• Lawsuit management and regular updates
• Judgment execution - International Collections
International Collections
GrindStone can collect anywhere in the world. Our experienced international collectors have access to multiple languages and work closely with the US Embassies to file trade complaints. This process maximizes international debt recovery.
- Tailored Services
Tailored Services
GrindStone will "Tailor" its collection services to "Fit" your needs. Choose between Audit, Easy, Normal or Hard Approach for each account. At your request we can escalate the pressure being put on your debtor(s).
GrindStone also provides AR management and pre-collection services. Contact us anytime for more information on these services. - Credit Reporting
Credit Reporting
All unpaid debtors are reported to the credit bureau after 30 days in collections. Debtors are reminded frequently of this during the collection process. - Rates
Rates
GrindStone offers competitive industry rates. Rates can vary by balance, age and circumstance. Contact a GrindStone rep today for a quote. - Licensed, Bonded & Insured
Licensed, Bonded & Insured
GrindStone is licensed, bonded & insured to collect in the United States and internationally. We are also proud members of the Commercial Law League of America.
- Pre-Collection Program
Pre-Collection Program
Contact us today to find out how you can place accounts at contingency rates of less than 10%