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Frequently Asked
Questions
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Table of Contents
What should I do when an account directly contacts me after it has already been placed with JWS?Listen to what they have to tell you and then refer them back to JWS. The easiest way is to tell them that the account is no longer in your hands, it has been placed with JWS for handling and all arrangements must be made through JWS. You should also contact your JWS account representative (phone, fax or email) and relay the information. Back to TopWhy shouldn’t I go ahead and accept repayment arrangements when contacted by the debtor?Often times the JWS agent working your account has already established a reasonable repayment plan with the debtor and they are merely trying to get you to accept a lesser repayment amount or a longer repayment time. It is always best to refer them back to JWS to ensure faster recovery. Back to TopWhy did I receive a direct payment from an account placed with JWS?Even though JWS instructs the debtor to remit payment direct to JWS to ensure proper clearing, one of two things causes the debtor to remit directly to your company. First, is that the debtor has your company set up in their computer system as a vendor and when the check is cut by their payables department, the vendor information is not changed/updated in their system. Secondly, the debtor “feels” they are avoiding the issue of being placed with a collection agency by remitting payment direct to your company. Back to TopWhat should I do when I receive a direct payment from an account that has already been placed with JWS?It is fine to go ahead and deposit the check as long as it does not have a restricted endorsement. Please contact your JWS account representative and report the payment amount and the date payment was received as quickly as possible. Timely reporting of direct payments prevents the JWS agent from unnecessary continual contact with the debtor. Back to TopHow will I know what is going on with an account that I have placed with JWS?Once an account is placed with JWS, it is worked immediately, usually within minutes of placement. Your account representative will keep you advised of the developments in addition to a monthly status update report. You may also request an update at any time from your account representative by phone, fax or email. Large volume monthly customers are set up with on-line status updates. Back to TopWho do I talk to in the event I cannot reach my account representative?Your account representative will always return your call the same day. In the event they are out of the office, someone is always designated and available to answer any questions or give you a complete update on your account. Back to TopIs it necessary to send all of the back up documentation at time of claim placement?The account name, contact name, address, phone number, total amount that is owed, and the invoice date range are the main items needed to effectuate collection. A credit application and/or contract is usually the next most important piece of information. If it is too burdensome to send other supporting documents, those documents can be requested on a “need only” basis. Generally speaking, most accounts are aware that they owe your company and have already received invoices or statements; however, occasionally they may have been lost or misdirected. Your JWS account representative will let you know if there are any other documents necessary to effectuate collection. Can I place an account that has already been written off/charged off by my company?Yes, regardless of the account’s profile within your company, the bottom line consideration is that the debt has not been paid and it has not exceeded the state statute of limitations. Your JWS account representative will be happy to answer any questions you may have regarding statute of limitations. |
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James Wallace & Stewart© 2008