When evaluating a debt collection agency, ask them about their success rate and the average time for settling accounts. The chances of collecting a debt reduce considerably the longer your homeowners go past due. Speed and accuracy make all the difference.
Equity Experts is a community association collection agency with a thoroughly proven track record of success. We have high standards demonstrated by internal metrics, industry compliance, and reporting practices to share with managers, board members, and staff. We explain the processes that lead to our ability to recover money from delinquent homeowners and quickly increase your cash flow. A success rate is represented as a percentage in the debt collection industry, and ours is 98%. That means we settle nearly all past-due accounts.
Accounts that aren’t settled are called write-offs. Unresolved debt rises by more than 1% every week after the past-due date. In about seven months, the average account only has a 50% success rate. We monitor accounts and put customized plans into action.
Keeping an eye on progress
Our reporting features take you through step by step processes like the number of phone calls placed in a given period of time, letters sent, and results such as assessments and additional fees collected. We use the latest technology to comply with state and federal laws, allowing you to see progress in real-time, and keep your accounting up to date. Information is accessible at the touch of a button.
Compare reported success rates between debt collection agencies and you will find that Equity Experts are at the top of the industry. We back up our 98% success rate with expert consulting to tailor community processes and ensure expectations are met. Building honest client relationships is a core value at our agency.
Streamlined communication and compliant processes
Equity Experts give managers and board members the best fiduciary results by settling accounts quickly. Reduced accounts receivables and improved communications create a well-supported community. Processes are developed to suit the size of the association and offer consistent and efficient results. A team of experts explains software integrations and trains staff on how to access convenient resources like our interactive map with links to information and advice for community association boards.
Our level of transparency avoids any miscommunications between Equity Experts, the HOA, and it’s residents. We strive to positively negotiate, inform, and resolve payment issues to maintain relationships and reduce liability leading to conflicts. We outperform our competitors because we work quickly and empathetically with homeowners, ensure compliance, and offer access to reporting features that make your job easier. If you are looking for a debt collector you can trust to resolve past due accounts quickly and fairly, Equity Experts is the answer.
Check out our video explaining the technology used to track processes, engage with homeowners, and defer fees from the community association for easier budgeting. Our customer service continues to support you at every turn. Our success rate is reflected in our Google ratings and reviews.
To learn more about Equity Experts, see the following articles: