To avoid the unnecessary steps, delays and costs of middlemen, these alternatives all have values that must be considered when placing accounts:
LLS vs Letter-Writing Services
When you sign up for one of these coupon book services, a series of letters are dispatched to the debtor for which you prepay a flat fee. Sometimes the letters can be threatening, or even break the law. Anyone who has ever seen these knows full well that nothing else will be done. With LLS, you will always get more value, personal attention, and every effort possible to recover your funds.
LLS vs Collection Agencies
Debtors are contacted every day by a local or national agency. Some agencies are good and get the job done — but at what price? Some of these agencies are constantly in trouble for breaking the laws of the FDCPA, or worse yet, unscrupulous agencies have been known to "vanish in the night," taking your account and/or funds with them. It is important to trust the people that handle your accounts. With LLS, you get over 35 years of professionalism and integrity, your accounts handled by our agency or known, established and personally selected law firm, your funds paid directly to you in full immediately upon recovery, and no processing charges for forwarding accounts to our nationwide network of fully accredited, licensed and bonded collection attorneys.
LLS vs Corporate Counsel
It is never cost effective to utilize the corporate attorney for collecting delinquent accounts. You are paying this attorney by the hour, regardless of their success, and many are totally unfamiliar with collection law or practice. Additionally, if you choose to send accounts directly to attorneys, you will find that they will want retainers, non-contingent suit fees, excessive advanced costs to hold in their escrow accounts, as well as the agreed percentage which will be higher than LLS can secure for you.
LLS vs Your Collection Staff
These days, many debtors operate on the premise that they won't pay until made to do so. Therefore, if your staff doesn't collect the account within 60 days, odds are, your customer has no intention of paying you. You are paying salary, benefits, vacation, bonus, insurance — all with no benefit derived for the company. If instead, the non-paying customer was turned-over to LLS, your staff can focus more clearly on the current business at hand, while LLS handles the delinquencies for a low fee that is contingent upon recovery.