Morgan Hill, CA: In today’s once-in-a-century economic climate, every dollar counts. Each collection that an agency makes on behalf of a creditor works not only to keep costs down for consumers, but also to employ people, from the agents who make the calls to all the vendors who support the process for a typical collection operation.
Carlos Casas, president of The Rickenbacker Group, Inc. (Rickenbacker) based in Morgan Hill, California, knows this well. This is why Carlos has implemented stringent fiscal and accounting controls within the firm’s fledgling Professional Practices Management System (PPMS) program—to safeguard clients’ assets and ensure organizational stability in these difficult times. When something didn’t seem quite right about a recent large-balance collection the firm made against a commercial account, PPMS was put to the test.
“We got a call in August of last year from a company in China going by the name of Jiangsu Shenlong Hi-Tech Group (JS Hi-Tech). They said a company here in the States owed them more than $600,000. We have experience with big commercial balances and dealing with overseas accounts, so of course we were happy to have the business,” Carlos stated.
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