The universally standard agreement in the commercial collections industry is for the collection agency to be hired on a contingency basis: no collection, no fee. If successful, the collection agency takes their “cut” from the proceeds collected and the client absorbs the loss. If unsuccessful, the client doesn’t pay any fee to the collection agency.

This is what sets VeriCore apart from all other agencies. Our proprietary tools and techniques, along with a unique understanding of state laws, allow VeriCore clients to routinely experience ZERO fees WITH a successful collection.

The vast majority of the commercial collection agencies in the U.S. continue to resort to the age-old practice of holding the collection fees hostage in return for a principal balance payment from the debtor. VeriCore believes that using your costs as leverage to entice a payment is fundamentally wrong and unfair to our clients who, by no fault of their own, find themselves being forced to place an account for collection due to non-payment.

It’s called a “program” for a reason. Every collector, every manager, every executive at VeriCore believes in the fundamental principle that the debtor should be responsible for the costs of collection.

If it’s the debtor’s fault, and they “chose” not to pay, why should our clients be burdened with the collection costs?

VeriCore works on a contingency basis as well, and we also get nothing if we collect nothing. However, the difference with VeriCore is our relentless pursuit of collection costs. Where legally applicable, we automatically add collection costs to every placement: we treat getting them as a requirement, not a courtesy.

Every outcome leaves you no worse off than working with other agencies, but the upside of working with VeriCore is unparalleled.

It does not happen on every account. No honest agency would tell you otherwise. But VeriCore treats the “debtor pays” philosophy as the standard objective for every account placed for collection, not a situational tactic to employ occasionally.

Here is the question every skeptical credit manager asks: what does VeriCore get out of this?

We relentlessly pursue collection costs for two reasons.

First, the collections industry has thousands upon thousands of agencies vying for your business. Since many of these agencies are unlicensed, they can afford to entice clients with 10% contingency rates. Even if their efforts match their lowball rates, many clients are conflicted. As such, VeriCore challenged itself to beat them at their own game. Our ZERO FEE Program means we can offer a service with unparalleled performance while still routinely beating our competition and their 10% rates.

Second, you can’t be in the collections business if you aren’t money motivated. The ZERO FEE Program provides an avenue for our collectors to make more money, and we won’t apologize for that. The simple truth is that you want your collection agency to be money motivated because that means they are relentlessly pursuing every dollar. Since we take a contingent percentage of every dollar we collect, collecting the collection fees is like killing two birds with one stone.

Eligibility comes down to two things: where your debtor is, and what your paperwork says.

Fee-shifting, the legal mechanism that lets collection costs be assigned to the debtor, is permitted in 47 states. Three states prohibit it outright. Six of the 47 states require the fee-shifting terms to appear in a document the debtor signed.

The signed document can be almost anything with terms and conditions on it: a credit application, a credit agreement, a contract, a signed quote. If your paperwork already contains fee-shifting language, your accounts are likely eligible today. If it doesn’t, we can help you create the documentation so that you can pursue these fees in the future.

In summary, every account is eligible for our ZERO FEE Program if you have fee-shifting documentation, and almost every account is eligible even if you don’t.

Read hundreds more on our Results page.