PROCESS

WRITTEN REPORTS

Kross, Lieberman & Stone provides every client with a variety of written reports. We hope these reports will assist you in evaluating our performance, as well as maintaining the important lines of communication necessary to properly work your accounts. The following reports will provide you with our account balances so that we are always sure that we are collecting the correct balance. They will also make you aware of developments that have occurred on your accounts.

Client Account Acknowledgment Report – This report is sent to you immediately after placement. This report lists all accounts placed, your reference number, and the date and amounts placed. This allows you to have a written record and a confirmation that we are working your account.

Collection Statement/Invoice – This report is an accounting of payments made to us and payments reported from you. This lists the amount the debtor has paid during a specific time period and the resulting balance. We send this report along with any moneys due to our clients on the Fifth and Twentieth of every month. Depending on your payables department, we also provide individual invoices for each direct payment.

Account Status Report – Kross, Lieberman & Stone generates this report once a month, quarterly or BI-weekly. The information on this report is different for each client. Some clients want to see statuses from last report to current report. This request would include all accounts paid, canceled, and active. The report would then reflect our current balances and the current work category the account is in, e.g., Broken Promises, Promise to pay, payment schedule, etc. Other clients prefer only to see statuses on active accounts. This report would not include paid in full or canceled accounts. Still other clients appreciate receiving a report of all placements every month or once a quarter. Whatever your need, your account executive will have it noted in our system. You will receive the customized report that suits your special reporting needs. After reviewing your account status report, if you find a status on a debtor for whom you would like more information, your account executive can verbally report to you as discussed earlier.

Performance Report – This report looks at our performance by total amount listed and total collected. These figures are broken down by month to date, year to date, and total to date. Utilizing this report allows clients to look at what we have done over a specific period of time. We maintain a collection ratio average of 67.17% (above the industry average of 31.62%). In evaluating our performance, we feel it is always important to base your evaluation on more than just our collection results.