Save Thousands of Dollars


  INFORMUS INC'S

  pre-collection

 

FINAL NOTICE SERVICE


Collection Agencies can deduct thousands of dollars in commission fees from the money they collect for you.  Lawyers can bill you for thousands of dollars in legal fees in an attempt to obtain a judgment against a delinquent debtor.

You really do not want to place an account for collection or sue a debtor.  You just want to get the outstanding receivable settled.

Your phone calls and other communications with the debtor have not got it settled.  It appears the debtor has not taken your repeated demands for payment seriously.

Bringing in a third party to collect the debt can cost you money and will most likely hurt the debtor's ability to obtain credit in the future.  You wish, if at all possible, to avoid both these two repercussions.

How do you get the debtor to realize that you are just days away from taking the only option they have left you - which is seeking the help of a collection agency or a lawyer.  You have probably already threatened to do this but now you really intend to do it. What should you do?

As a commercial credit and collection consultant, Informus Inc. now gives you an option that will leave no doubt that the debtor has only days left before their debt will be in the hands of a collection agency.  This is accomplished by you copying the debtor on an email that you send to Informus Inc. It instructs informus to forward the debt to the collection agency in 10 days.

Towards the bottom of this page is a FINAL NOTICE email template that you can copy, personalize and email to a delinquent debtor.  Based on our experience, we expect that as many as 30% of those who receive this FINAL NOTICE will immediately contact you and settle the debt because they will immediately recognize that this debt no longer just an issue between you and them.

For each debtor that does pay you within 10 days of receiving your FINAL NOTICE, INFORMUS Inc. will invoice you a flat consultation fee of $100 to cover all Informus' processing and handling expenses (no matter whether your collection claim is $5,000 or $5,000,000).  There is no handling charge by Informus Inc. for those accounts that do get opened by the collection agency on the 10th day.  As well, there a no charge for forwarding notice of the  opened collection claim to all major credit reporting agencies.

The Credit Bureau of Canada Collections (CBCC)  is the default collection agency that Informus will forward your claims to.  This large, long established, professional collection agency is licensed to collect debts in both Canada and the United States. The CBCC rates and terms are posted in their application form below. (If there is another collection agency you wish to use, Informus will need to contact them and establish procedures with them.)

The CBCC application form must be completed and forwarded to INFORMUS Inc (admin@INFORMUS.ca) before sending the FINAL NOTICE email.


                  
Ian D. MacDonald - Informus' Primary Consultant

The president of INFORMUS inc., Ian D. MacDonald, can draw upon decades of experience in helping companies solve their commercial credit approval, account monitoring, cash flow and collection challenges.  His background includes:

Senior Vice President, Creditel
Vice President, Equifax
President, Intercontinental Collections
General Sales Manager, Dun & Bradstreet (credit reporting, collections, etc.)
General Manager, Dun & Bradstreet's Marketing Services Division
General Manager, Screening Systems International
Credit Reporting Supervisor, Dun & Bradstreet
Ontario Regional Manager, Creditel

His career brought him in contact with thousands of credit professionals - from the largest of financial institutions to the smallest private corporations.  He learned what works and what does not work in commercial credit. He wants to share this problem solving knowledge with you.  You can reach him at imacd@informus.ca or by telephone at 416-24-7087.



                                                           *******
                                 The Pre-Collection

                             FINAL NOTICE

                                 Template

The following is an email template that you can copy, cut and paste into an email being sent to a debtor that you want to place for collection. The debtor has 10 days to respond or it will automatically be in the hands of the collection agency. It takes the form of an email to INFORMUS INC from you with a copy to the debtor.

Every email has a title line.  Use this following title.  All you have to do is put in the amount you wish collected and a date.  It is designed to arouse the debtor's curiosity by using the past tense.

$ ( enter your dollar amount) Placed for Collection on (enter the date 10 days beyond the date you email this notice).
                                                           
Now cut, copy, paste and customize the body of the following email message
                                                                                
(enter in the date you are sending this email here)

To: Ian D. MacDonald
       Senior Consultant
       INFORMUS Inc.


On 
(enter in the date 10 days beyond the date you email this notice) please instruct the Credit Bureau of Canada Collections (CBCC) to immediately begin collection of the following claim for $ (enter in total amount to be collected).  Copy us and the debtor when you email the claim to CBCC.  Also acknowledge your receipt of today's instructions by email to us with a copy to the debtor.

If the debt is settled prior to this date, we will inform you by email to not forward the account to the collection agency.  You are requested to immediately acknowledge by return email any such"stop" instruction that we might issue.

Debtor's Account Number :(for matching purposes enter the debtor's account number)

Debtor's Name:  
(enter in the name of the debtor company, street address, city, province/state, Country,Postal/zip)

Debtor's email addresses: (enter in all the email addresses you have used in contacting the debtor)

Debtor's telephone numbers: 
(enter in all the telephone numbers you have used to contact the debtor)

Debtor contact names and titles:
(enter in the name and titles of your debtor contacts)

Debtor's D-U-N-S Number: (if available,supply for matching to their Dun &Bradstreet credit report)

Debtor's Equifax Subject Number: (if available, supply for matching to their Equifax credit report).

Attached you will find: (To speed up your recovery, scan & attach any relevant debtor documents)
                  
(1) The original purchase order for $ (enter in the amount on the purchase order)
                 (2) The delivery receipt for the ordered goods.(for proof of delivery)
                 (3) The last statement showing an outstanding balance of $ 
(enter amount).

                  (attach any other documents that prove the debtor received the goods as they ordered.)

We have signed the Credit Bureau of Canada Collections' terms of agreement.  We acknowledge that if legal action is required to resolve this debt that the collection agency will request, in writing, an initial deposit for legal expenses.  We would wish that all court costs incurred be included in a judgment when it is rendered.

When this collection claim is opened with the Credit Bureau of Canada Collections please insure at the same time that the following credit reporting agencies are informed of the claim so they may record it in this debtor's credit report:  Dun & Bradstreet, Equifax, Experian, TransUnion and CreditSafe.  We also request that you bring it to the attention of all industry credit groups that meet monthly to discuss this debtor.


A copy of this email was forward to the debtor on 
(enter in the date this email was sent)

If the collectors have any questions regarding this claim please have them contact me.

(enter in your name, title, company name, address, phone number and email address)

If you wish to see an example of how this letter to the debtor should appear when completed, see Note 1 at the very bottom of this page.


By sending a copy of Final Demand email to INFORMUS Inc. you are agreeing to paying INFORMUS Inc. $100 if it results in a settlement within the 10 day period. The$100 is in US or CDN funds depending on whether the amount being collected is in US or CDN dollars.


                                                                    ******

Credit Bureau of Canada Collections

The following Credit Bureau template collection agreement only has to be completed the first time you use an Informus Pre-collection Final Notice.

Copy, cut and paste it on a blank page, then fill in the details, sign it, scan it and forward it  by email to admin@informus.ca


CBCC

Credit Bureau of Canada Collections


                      The client,(enter in your company name) ,agrees to the following commission rates.

                       

   DEBT TYPE

 CLAIM
AMOUNT RECOVERED

COMMISSION RATE

   All Claims

   To First $10,000 Recovered

   Flat 20%


   Next $39,999 Recovered

   Flat 15%


   On amounts over $50,000

   Flat 10%

   Judgment

   All Claims

   Flat 50%

   Foreign

   All Claims

   Flat 50%

   Second Placements

   All Claims

   Flat 50%

                                         Commercial Rates (ie; Limited or Non Limited Companies

A.
The client agrees that it has the full power, authority and legal right to execute and engage in the services contemplated by the terms and conditions of this agreement.
B. The client will report all payments, received directly from the debtor(s), to CBCC immediately upon receipt of said payment.
C. Paid prior, reconciliations or merchandise returned are subject to one-half (1/2) commission rates from the date the account is assigned.
D. Account withdrawls are subject to full commission rates.
E. The client authorizes CBCC to endorse any cheques, drafts, notes or money orders received in the clients name for deposit into CBCC's trust accounts.
F. Litigation is only pursued with written authorization by the client. CBCC charges a $240.00 Legal Administration fee per account.  The above commission rate will remain the same.
G. All Legal fees are the responsibility of the client.  There is a $500 retainer plus the above noted $240 for a total of $740 required for Small Claims Court actions and a $3,000 retainer + $240 for all Superior Court actions.

This agreement contains the entire and only agreement between the parties.  No waiver or amendment shall be binding on the parties unless in writing, signed by an authorized official of both parties.



                                                               
Signed  on (enter date)


                                                                 X_____________________________________________
                                                                   
Customer's Authorizing Signature

                                                                      (enter in your name and title)
                                                                       (enter in your company name)
                                                                       (enter in the company's street address)
                                                                       (enter in city, Province/state, postal/zip)
                                                                       (enter in country)
                                                                       (enter in your telephone number)

                                                                        (enter in your email address)
                                                                        (enter in fax number)

                                                                             On Acceptance by Credit Bureau of Canada Collections

(                                                                     (forwarded by INFORMUS Inc., ian.macdonald@informus.ca)


                                                     **********************************************************

  CONTACT

INFORMUS Inc.
2 Vista Humber Drive
Toronto, Ontario, M9P 3R7

sales@informus.caTel./ 416-245-7087416-245-7087/www.informus.ca
 


       

Note 1: Example of a Final Notice Email Format


 

BIGCO                     $5,000 Placed for Collection 20 March 2015     categories      10/03/2015


                                      **********************************************************


March 10, 2015


To : Ian D. MacDonald

       Senior Consultant

       INFORMUS Inc.

On March20, 2015 please instruct the Credit Bureau of Canada Collections (CBCC) to immediately begin collection of the following claim for $5,000. Copy us and the debtor on this email message when you email the claim to CBCC. Also acknowlege your receipt of today's instructions by email to us with a copy to the debtor.


If the debt is settled prior to this date, we will inform you by email to not forward the account to the collection agency.  You are requested to immediately acknowledge by return email any such "stop" instructions that we might issue.

Debtor:  Account Number -  1234567

               Kingco

               51 Widdicombe Hill Blvd.

               Toronto

                Ontario

                M9R 1Y3

Debtor's email addresses: kking@ gmail.com

Debtor's telephone numbers: 416-239-8081400-400-4000

Debtor contact names and titles:  Kong King, President

Debtor's D-U-n-S Number: 123456789

Debtor"s Equifax Subject Number: A12345

 

Attached you will find a copy of:
                  
(1) The original purchase order for $4,950.
                 (2) The delivery receipt for the ordered goods.
                 (3) The last statement showing an outstanding balance of $5,000

                  
We have signed the Credit Bureau of Canada Collections' terms of agreement.  We acknowledge that if legal action is required to resolve this debt that the collection agency will request in writing an initial deposit for legal expenses.  We would wish that all court costs incurred be included in a judgment when it is rendered.

When this collection claim is opened with the Credit Bureau of Canada Collections please insure at the same time that the following credit reporting agencies are informed of the claim so they may record it in this debtor's credit report:  Dun & Bradstreet, Equifax, Experian, TransUnion and CreditSafe.  We would also request that you bring it to the attention of all industry credit groups that meet monthly to discuss this debtor.

A copy of this email was forward to the debtor on March 10, 2015


If the collectors have any questions regarding this claim please have them contact me.

 

 

Joe Smith

Credit Manager

Bigco Limited

100 Apple Street

Toronto, Ontario

M9P 3R7

Tel 400-300-2000

joe.smith@bigc.com






Informus Inc

2 Vista Humber Drive

Toronto, Ontario

CANADA

M9P 3R7

Tel 416-245-7087

sales@informus.ca


COMMERCIAL CREDIT & COLLECTIONS CONSULTING