Q1: What is Spring Hill Capital?
A1: Spring Hill Capital is a purchaser and collector of
charged-off accounts. Spring Hill will purchase your bad debt and delinquent
receivables for cash or collect them for you on a contingency basis.
Q2: Do you buy our accounts receivable?
A2: Yes, this is exactly what Spring Hill does.
Spring Hill will make an outright purchase of the financial rights to your
invoices. Alternatively, if you would prefer, we are happy to
collect your accounts on a contingency basis.
Q3: Why would I do business with Spring Hill when there are an abundance
of collection agencies to choose from?
A3: Spring Hill is NOT a collection agency. Spring Hill focuses
its efforts on complex, commercial accounts. We do not collect
consumer accounts. Further, we work in a tactful and discrete
manner.
Q4: I am comfortable with my current "collection agency process,"
therefore, why do I need Spring Hill’s services?
A4: That’s great – Spring Hill does not and will not compete with
collection agencies. Instead, Spring Hill will collect on those accounts
that your collection agency cannot collect – this is the debt that your
company simply writes off.
Q5: How does Spring Hill Capital make money?
A5: Spring Hill has a two-prong approach for the accounts it
purchases. First, Spring Hill attempts to collect the debt itself. Spring
Hill has created a
vast network of attorneys and other related professionals in the collection industry with
state of the art technology and data mining capabilities, including asset
search services, credit bureau/trade information and other data matching
programs. Spring Hill Capital leverages its sophisticated technology, experience and
up-to-the-minute debtor information and collects the amount due.
Q6: How much will Spring Hill Capital pay for my "bad debt?"
A6: Spring Hill Capital is willing to buy your bad debt for cash. Rather than collecting
nothing and simply writing-off these accounts, Spring Hill Capital is willing to give
you up-front cash for your bad debt. The purchase price will vary depending upon the type
of debt, the age of the debt and the exact nature of the transaction.
Q7: What type of accounts do you buy?
A7: Spring Hill Capital purchases just about any valid receivable for a service performed
or a product delivered.
Q8: Is there a minimum amount of accounts that you will buy? Our company only
writes-off a small amount of accounts per year.
A8: Although most creditors prefer to group several years of
charged-off accounts, Spring Hill does not impose any floors. Many
creditors make the mistake in assuming that Spring Hill is only interested
in purchasing the prior year’s bad debt. To the contrary, Spring Hill customarily purchases accounts as old as four years.
Creditors are generally surprised how many accounts have been written off and how much
their portfolios are worth when they combine several years of bad debt.
Q9: Does the administrative time for such a return warrant my time?
A9: Absolutely, because you have already incurred this
administrative cost. Spring Hill does not require any documentation other than what you have already provided to
your collection agency in your normal credit collection process. Spring
Hill, much like you, is not interested in devoting significant time and
resources to conduct due diligence activities with respect to these
charged-off accounts. Spring Hill has
developed a streamlined approach which makes this transaction efficient, timely and
cost-effective for both you and Spring Hill. After all, Spring Hill wants this
transaction to be as painless and non-disruptive as possible.
Q10: If I sell my charged-off accounts to Spring Hill, do I have to be
concerned with being sued by the account debtors for Spring Hill’s?
A10: Both practically and legally speaking, it is extremely rare
for a seller to be sued in this industry on the basis of the buyer’s
conduct. Remember, Spring Hill and its customers are highly qualified and
experienced professionals with extensive knowledge of both federal and
state collection laws. Spring Hill fully indemnifies sellers from any claims by account
debtors relating to its violation of any applicable law, rule or regulation.
