Strategies for Leasing Companies to Resolve Debt Collection Disputes

For leasing companies, resolving debts is not like it is in other sectors. On a basic level, somebody leasing property or equipment doesn’t have an equity stake in it. They don’t own it, so there’s a different dynamic.

Commercial real estate and similar sectors require finesse, tact, and professional experience. Please read on to learn about Summit A*R’s approach to resolving debt collection disputes for leasing companies.

Speed Matters

One of the worst red flags for a corporate landlord is a tenant not paying their rent or, in some way, breaking the terms of the lease. Usually, it means that they’re in desperate straights, and if they fold, the creditors may swoop in before you can collect any rent.

Summit A*R’s tenant collection services operate quickly with a full understanding that time is of the essence. We provide personalized services that pick up the phone when you call because they know you and your case in-depth and are invested in your success.

Clarity Helps

It always helps to create an effective debt collection policy that is clear to all parties from the beginning. When people and organizations are immediately on the same page, it can potentially prevent the type of confusion and misalignments that are debilitating down the road.

Sometimes, an ounce of prevention is worth a pound of cure. A debtor may understand very well what they’re doing when refusing to make payments or making them too late, so clarity won’t solve everything, but preventing future disputes is an important goal and it’s never a bad thing.

Skip Tracing by an Investigator

Summit A*R is proud to be one of the only professional debt collection services in the US with its own licensed private investigator in-house to oversee its skip tracing department. Our skip tracing solutions far exceed what other debt collectors can offer because our investigator has experience and resources that they don’t.

Many rely on the same pool of free sources, leading to the same level of results. Our investigator will track down people and assets that don’t want to be found. Summit A*R lets clients use our private investigator without incurring any extra charges.

Nobody wants to sit around waiting for a search that ends up futile. It only drags out the process and waste valuable time that could be better spent.

Friendly Debt Collectors

There’s understandable tension whenever there’s a financial dispute or disagreement. We get why this can arise, but we make it a point to prevent it. Summit A*R works hard to avoid all the aggressive tactics sometimes associated with debt collection, such as robocalls, late-night calls, threatening or aggressive language, and more.

Instead, we try to find the quickest, best road forward for both parties. Our clients want to recoup their debts, and usually, the debtor wants to pay it off but struggles to do so. Nobody wins in a prolonged stalement, especially a harsh one that turns ugly. Summit A*R calls this our PHD philosophy — Preserve Human Dignity.

We treat everybody we encounter with dignity and respect, and without judgement. This is simply a nicer way to exist and do business, but it also has a few practical benefits. Managing to recoup debts without burning bridges help to keep relationships intact, so you can keep doing business in the future with clients and partners.

Plus, our friendly approach doesn’t prevent us from collecting more debts. Far from it! Summit A*R is proud to recoup nearly double the industry average. In other words, there’s no downside to treating well, only advantages. If anything, it helps us recoup more money sooner, in a way that helps you do more business afterwards.

A+ Rating

Providing no-complaint services is difficult for debt collectors, whose job it is to solve problems that can feel heated and intractable. Summit A*R is proud of our A+ rating from the Better Business Bureau.

It’s a testament to the extent to which our softer, friendlier approach is also more effective financially. Debt collection doesn’t always have a wonderful reputation, but being kind and professional throughout the process is our defining characteristic.

Our debt collection specialists are trained negotiators looking to help both sides move forward, and we do so without complaints from either. We think our A+ rating dovetails nicely with our PHD philosophy, as both reflect the positive way that we treat people.

Legal Services

Sometimes, a company breaks their lease because they simply don’t have any other financial options. In these cases, debt collection may be very difficult or even impossible. It happens, especially in volatile industries with high stakes. That doesn’t mean you should bear the brunt of it.

Summit A*R will ensure you’re in full legal compliance throughout the debt collection process, and we keep up with all legal changes in the jurisdictions we operate and work closely with collection laws everyday. But we also go further than that.

We will exhaust every single debt collection method first amicably and quickly, but once we establish that there’s no option left (say, if they’re ignoring all communications), pursuing legal action may be the only recourse left.

Our team will send the debtor a notice about their debt collection lawsuit. Usually, this alone can motivate them to get back in touch, as everybody would like to avoid a court date, especially since they know they aren’t making the payment and don’t have a hope of defending themselves.

Our qualified attorneys will pursue the case to the full extent of the law if the notice doesn’t change their behaviour and legal action against a debtor is the only option. Even the most determined efforts to be civil and respectful don’t necessarily yield financial results, so we’re prepared for that eventuality.

Leading companies need real action quickly when the full terms of the lease aren’t upheld. Summit A*R has almost 30 years of experience navigating these problems and helping lessors get what they’re owed.