Onboarding

Why use VeriCore?

VeriCore returns more money to clients with less cost and less risk than the competition. The Solvency Investigation, the ZERO Fee Program, and strict licensing compliance across every required state work together to put your receivables at the front of your debtor’s payment line.

What makes VeriCore a premium service with premium results?

Three things set VeriCore apart. The Solvency Investigation determines whether your debtor is unwilling or simply unable to pay. The ZERO Fee Program uses state laws to recover collection costs from the debtor — reducing or eliminating your out-of-pocket. And compliance in all 18 states that require agency licensing means VeriCore can pursue your money without restriction.

How does VeriCore charge for its service?

VeriCore works on contingency. You pay nothing upfront and nothing if we don’t collect. The fee is a percentage of whatever money comes in — principal, interest, collection fees, accelerated balances, restocking fees, and any other charges VeriCore pursues on your behalf.

What dictates the rate VeriCore offers?

Your rate depends on several factors: the volume of accounts you place, how old the debt is, how consistently you place accounts over time, the dollar amounts involved, the state where the debtor is located, and the nature of the debt. Fresher accounts and higher volume typically produce a better rate.

When is a file ready to be placed for collection?

Place an account when your customer avoids three or more contact attempts, when your competitors call them for credit references, when they claim invoice disputes after the fact, when they won’t agree to a payment plan of five payments or fewer, or when they break an existing payment arrangement.

Will VeriCore accept any account I want to place?

Not every account qualifies. VeriCore won’t accept consumer debts, inactive incorporated businesses without a personal guarantee, debtors in volatile international locations, accounts in bankruptcy or receivership, debts past the statute of limitations, files already with another agency at your direction, or accounts with active litigation in progress.

Can I place just the invoices that are over 90 days old?

No. VeriCore only accepts full accounts — not selective invoices. No debtor will pay VeriCore while you’re actively working with them on other open invoices. To give the collection effort its best chance, the entire account has to come over.

Does VeriCore work on accounts where the debtor is disputing?

Yes — but preparation matters. Your collector needs to know the dispute before engaging the debtor. Brief VeriCore on every detail and provide any documentation that supports your position. That groundwork before first contact is what makes the difference between a collected account and a stall.

What documentation does VeriCore need to accept an account?

VeriCore can start with minimal documentation, but your recovery odds climb with every piece you add: contact information for all relevant parties, invoices, any communication about a dispute, a credit application, documentation authorizing collection fees, a copy of a prior payment check, and any signed contracts or agreements.

How do I place an account for collection with VeriCore?

Fill out the placement form at the bottom of vericore.com or email your sales rep with the account details. If a dispute is involved, call your rep instead — that conversation needs to happen by phone before the account moves forward.

Is there anything else that increases the odds of a successful collection?

Three things make a real difference. Issue a Letter of Representation so the debtor knows VeriCore is your authorized representative. Then stay out of it — clients who contact debtors during active collection cut recovery odds by more than 50%. And talk to your rep about state law, since it affects what fees and charges VeriCore can pursue.

The Collection Process

What steps does VeriCore take to collect an account?

VeriCore uses a three-tier system. Tier 1 runs a Solvency Investigation — up to 90 days — to determine if the debtor is unwilling or unable to pay. Tier 2 assigns a second collector with a different strategy focused on finding solutions. Tier 3 prepares the file for potential legal action. Fewer than 1% of accounts ever reach that stage.

What issues might VeriCore run into during the collection process?

Three things can slow collection. A debtor objection may require additional documentation from you — collection pauses until you respond. A new dispute not disclosed at placement also suspends collection until it’s addressed. And occasionally, debtors file complaints as a stall tactic. Collector calls are recorded, and 99.9% of those complaints prove baseless.

Payments, Invoices & Billing

What happens when the debtor pays me directly?

Tell VeriCore immediately. Collection legally stops the moment a debtor satisfies their obligation. Once you notify us, we confirm receipt by email and invoice you for our contingency fee. The faster you reach us, the cleaner the process stays.

What happens when the debtor pays VeriCore directly?

VeriCore sends you a daily transaction report by email. That report shows the amount paid, the contingency rate, the fee amount, and the transaction type. It’s a notification — not a formal invoice. The invoice follows separately based on your billing arrangement.

Why does VeriCore charge a fee on the collection fee it recovered?

If collecting it required effort, VeriCore earns a fee on it — full stop. Additional charges like interest, collection fees, accelerated balances, and restocking fees require extra effort and mediation to recover. That work is real, and VeriCore’s compensation reflects it regardless of what type of charge was collected.

If VeriCore collects the account quickly, shouldn’t I get a reduced rate?

No. The rate doesn’t change based on speed. Over 70% of successful collections happen within the first 30 days anyway. One important note: save the remittance envelope from your customer. Debtors sometimes backdate checks to dodge collection fees — the postmark proves when payment was actually sent.

Does VeriCore offer credit terms?

No. VeriCore’s service functions as a cash deposit to you — there’s no reason to age our invoices. Debtor payments sit in trust for seven calendar days, then remit the following Monday. VeriCore invoices follow that same cycle and are due upon receipt.

What billing methods does VeriCore offer?

New clients start on Net Billing. When the debtor pays VeriCore, the fee comes out before remittance. When the debtor pays you and VeriCore has funds on hand, we offset. When no offset is available, you receive an invoice. Established clients have additional billing options — ask your rep.

How often does VeriCore send remittance payments?

Every Monday. VeriCore deposits debtor payments into a client trust account, holds them for seven calendar days, then sends remittance the following Monday. International payments may follow a slightly different schedule depending on the debtor’s payment method. You’ll receive a statement whenever funds remit.

Will VeriCore ACH remittance instead of sending a paper check?

Yes, and VeriCore actively encourages it. Email your banking information to accounting@vericore.com with your ACH request. Paper checks are still available if you prefer them. When VeriCore remits via ACH, you receive an email statement confirming exactly what was sent.

The Legal Process

What happens if VeriCore doesn’t collect and a lawsuit needs to be filed?

Three steps happen before you’re asked for anything. First, the account gets evaluated for suit worthiness — disputes, counterclaim risk, and documentation gaps all factor in. If it passes, VeriCore notifies you and gives you seven days to object. Then it forwards to a network attorney at a higher contingency rate, since the attorney also works contingency.

What happens if the attorney’s initial demand process doesn’t work?

The attorney continues due diligence and typically sends VeriCore a status letter within 45 to 60 days. If they recommend filing, VeriCore invoices you for estimated court costs. You then decide: pay to proceed, or close the account. That choice is entirely yours.

If the attorney works on contingency, why are there additional costs?

The attorney’s contingency fee covers their time — it doesn’t cover the court’s hard costs. Filing fees, service of process fees, and garnishment fees exist regardless of outcome. You pay them because you’re the one bringing the lawsuit. No court waives those fees on contingency.

What does the attorney use the additional legal costs for?

Court filing fees, service fees, garnishment fees, and a small administrative fee for opening your file. If a counterclaim emerges, additional costs may follow. When things go smoothly and the estimate comes in high, VeriCore refunds any unused balance back to you.

We filed a lawsuit — now what?

The attorney serves the debtor. If the debtor doesn’t respond, a default judgment is awarded and the attorney moves to execute on assets. If the debtor files an answer, back-and-forth begins and the timeline extends. Either way, VeriCore stays in contact with you throughout.

How long does a lawsuit typically take?

Settlement can close in a few months. Trial can take years. The timeline follows the court’s calendar — not VeriCore’s schedule or the attorney’s. That said, fewer than 10% of legal files go to trial. Most resolve well before that point.

What is the worst-case scenario if we file a lawsuit?

A counterclaim — when the debtor files their own lawsuit against you. At that point, the contingency arrangement no longer covers the attorney’s defense work. You and the attorney negotiate a separate fee arrangement. It’s rare, but you need to understand the risk before you commit to filing.

What role does VeriCore play in the lawsuit?

VeriCore stays involved from start to finish as the liaison between you and the attorney. We keep you informed, keep the process moving, and make sure nothing falls through the cracks. You’re never left wondering what’s happening with your case.

What happens when we obtain a judgment?

The attorney searches for assets to attach — active bank accounts first, then property, equipment, and anything else available. A judgment expands your recovery options significantly, but it doesn’t guarantee payment. Think of it as opening more doors rather than closing the case.

Additional Services

What else can VeriCore help me with?

Four tools support stronger in-house AR. VeriCore builds custom credit applications with personal guarantees and your company branding. The 10-Day Demand service sends demands via Priority Mail with electronic tracking — free for active clients. You get 24/7 online access to all your accounts. And the Toolbox at vericore.com includes a free in-house credit policy, demand letters, and AR call scripts.

When your team has run out of road, VeriCore picks up exactly where your AR department left off. Place an account or get a free quote at vericore.com.