LOS ANGELES, CA - 02-19-2018 (Press Release Jet) -- When a company or an individual gets stuck with outstanding account receivables, the outstanding monies can have a great impact on the fiscal health of anyone or company. In order for a company or person to be profitable, successful and there has to be cash flow. An outstanding account receivable undermines this goal.
Local businessman and Ceo, Shawn Smith has created a new solution to this age-old problem by launching his debt resolution company that personally addresses each problem every step of the way. His qualified background combines 21 years of experience in delinquency management and credit solutions. Smith has previously worked in default for major companies such as Chase and Washington Mutual Bank. He is an expert in results-driven default collections management and a financial professional with a demonstrated track record of accomplishments. Smith also has experience in multiple areas of collections such as rent to own, auto, credit cards, home loans, medical, and insurance premiums.
The main reason Smith decided to launch SDS was his desire to maximize his career. “I wanted to offer my clients superior service and to extend this same service to their customers. Many collection agencies do not offer debt consolidation and credit repair, they simply want to collect debt. SDS is not only a collection agency; it’s a solution to default. Because of the lack of additional services, collectors are often thought of in a negative light. At SDS we seek to educate and help debtors get back on their feet with debt counseling,” says Smith.
Once SDS receives the validation of debt from their client, the recovery process begins. There are some things that have changed in the last decade from a compliance standpoint. It is very important that an agency rigorously adheres to federal and state regulations governing debt collections. While the Fair Debt Collection Practices Act hasn’t changed much since 1977, there have been new regulations added to the recovery and lending process by the Consumer Financial Protection Bureau for both collectors and creditors.
SDS specializes in quality and compliance. They also customize their service to the clients’ desires to insure a seamless process. SDS says that at times some of the debtors can be difficult to deal with and this places risks on the collectors and their employers. Therefore, remaining professional is a must and one should never take anything personal when collecting a debt. “We do not place our client or ourselves at risk with non-compliant tactics to collect a debt,” states Smith.
Although SDS currently has 7 employees overseeing all the accounts, they have the capacity to handle 400 accounts weekly and 8400 monthly as they continue to grow. While most people want to settle their debt, it is usually their situation or circumstances that may prevent them from doing so in a timely manner. “I feel the best approach is to treat people the way that you would like to be treated. It all starts with respect. You don’t know what the person on the other end of the phone is going through,” remarks Smith.
It is important to approach the collection process based on each client’s desires because some are willing to settle, and some are not. Each situation is different. If the debtors are in a situation where they cannot pay the balance all at once, SDS can work with them on a short-term forbearance or repayment plan in most cases. “I would say the hardest debts to collect are the debts where the debtors don’t believe they owe the money for reasons such as receiving poor service or not being educated on the financing of the credit or loan,” says Smith.
At SDS, there is a different approach to collecting on delinquent medical accounts. SDS shows empathy when calling regarding a medical bill. Smith sees the situation as an opportunity to take the time, patience and understanding since you don’t know what the person on the other end of the phone is going through. SDS will try and educate them on programs that can assist with the debt such as non-profit organizations. The government also has programs that will help consumers settle their medical bills. “I like to think of our company as the new age of debt collections because we are uniquely experienced in all facets of default servicing. Our mission is to simplify the process for our clients and help to ease some of the stress for their customers that are unfortunately in collections. Our approach of the “client first” reflects a process that is skillfully, reliably and efficiently managed,” remarks, Smith.
A typical client list for SDS would be creditors, to include credit unions, banks, law firms, finance and insurance companies, and small business owners who need assistance in collecting on outstanding invoices for services rendered.
Here are debts that end up at SDS:
Consumer Debts: Personal
Commercial Debts: Business
Business Loans, including various open invoices for any services rendered.
Superior Default Solutions (800) 274-0349, Direct: (213) 448-2871
Company Name: Superior Default Solutions
Full Name: Shawn Smith
Email Address: Send Email
For the original news story, please visit https://pressreleasejet.com/news/los-angeles-businessman-launches-debt-solution-company-to-assist-in-debt-collection-superior-default-solutions-sds-begins-with-a-personal-touch.html.