Bilateral uses a three-step system to settle your accounts – our direct and effective “Locate, Communicate, Resolve” system.
First, we locate your customers. We use the most current and sophisticated skiptracing tools on all of your accounts, locating an array of new and possible contact information for your customers and tracking down third-party contacts.
Next, we communicate with your customers to get a strong handle on the situation. At Bilateral, our job is to determine the underlying reasons for your customers’ delinquency and to create a solution that is both manageable for the customer and maximally beneficial for you, our client. We believe in the importance of building a relationship between your customers and our collection staff that is based on trust and respect. We use our unique “Application for Extension” approach, asking specific questions to pinpoint your customers’ ability to pay. This way, we foster a relationship in which we act as more of a financial advisor than a bill collector, building a connection that is based on trust. Throughout the collection process, we diligently communicate with your customers in a manner that evokes a positive outcome, maintaining your hard-earned relationships and ensuring that your reputation is held to the highest standard.
Finally, we overcome any issues and resolve your accounts. At Bilateral, we maintain an extremely high recovery percentage for our clients, and we pride ourselves on maintaining a constant flow of revenue back to you on a monthly basis. When we first receive your account, we use our extensive experience to provide you with an estimated annual recovery percentage. Historically, our estimates have been remarkably accurate, so you can count on settling your accounts at the rate we discuss. And Bilateral will never close an account until every collection option has been exhausted.
At Bilateral, we give all your accounts the keenest consideration.
In addition to giving you access to our innovative software and technology, we employ a number of tools to ensure that each account is resolved quickly and effectively.
Bilateral uses the most current and effective skiptracing tools, pinpointing the most recent contact information for your customers and locating them quickly.
Bilateral offers you a custom-made letter series, through which we can generate specialized letters, based on the specifics and balance ranges of the accounts you have placed with us. We will send these personalized letters to your customers at strategic times, ensuring the greatest impact and efficiency.
Bilateral has a network of skilled, bilingual employees in all four time zones, so that we can call your customers at various times of the day to ensure that we make contact with them quickly.
At Bilateral, we can report to national credit reporting agencies on behalf of our clients, ensuring that your customers have maximum incentive to resolve their accounts with you. Once Bilateral has resolved your account, your funds are deposited into Bilateral's fully bonded and insured client trust account.