Summit Account Resolution Review

• Summit Account Resolution is our pick for the best collection agency for small businesses because of its transparent pricing and robust service options.
• There are no upfront fees or extra commissions on older invoices with Summit Account Resolution.
• Summit Account Resolution takes a custom approach to each customer, ensuring debt recovery is effective and empathetic.
• This review is for any business owner looking for a collection agency to recover debt from clients.

Debt collection is as unique as the business the agency is serving. That's particularly true for small businesses, which tend to benefit from personalized collection services and transparent pricing. Summit Account Resolution delivers on both, which is why it is our choice as the best debt collection agency for small businesses. Businesses that partner with Summit AR are appointed an account manager who is available to answer questions about the business's accounts. This collection agency also offers access to an online portal, enabling business owners to add new accounts and check the status of existing ones on the fly.

Pricing

In addition to pursuing debtors with empathy and understanding, Summit AR is affordable. Its collection rates, which are negotiable, range from 7% for some large first-party collection programs to 50% for small consumer collection programs. There are no upfront fees or extra commissions on older invoices. Recovery rates are trending at a companywide average of 34.8%. However, the company says recovery rates are as high as 80% in some instances.

Summit AR has a contingency-based pricing structure, which means you won't get hit with any fees until the debt is collected. To meet that end, it offers standard collection services such as demand letters, skip tracing and litigation services.

Key takeaway: Summit AR's negotiable collection rates range from 7% to 50%, depending on the program you select.

Pros and Cons

Pros of Working With Summit AR

What sets Summit AR apart from its rivals and makes it ideal for small businesses is the custom approach it applies to each account. That could mean visiting a debtor for one client and only sending demand letters to another. On top of standard B2B and B2C collections, Summit AR offers pre-collection help and enables businesses to outsource all their in-house collection needs. It will send bills, follow up with telephone calls, and help medical debt holders understand their balances. Summit AR also offers accounts receivable recovery and consulting.

Summit AR serves several industries on both the commercial and consumer sides. It focuses on businesses that require ongoing debt collection services, not just a one-off here and there. On top of the standard collection services that most agencies offer, it has specialized collection services geared toward specific markets. Its primary services run the gamut, including pre-collections, commercial and consumer collections, employee reimbursements, and medical and dental collection services. For its specialized offerings, Summit AR also provides services for commercial tenant, self-storage, veterinary and independent cellular dealer collections.

Summit AR's online portal and reporting capabilities are other benefits of using this service. You get monthly collection reports for each of your accounts, detailing the efforts to collect the debt and the status of the account. Summit AR gives you the option to download reports 24/7, which helps you monitor your accounts and plan your cash flow needs.

Through the online portal, you can place new accounts in collections and view the status of existing ones at any time. You also get a dedicated account manager. If you have any questions, you can contact your account manager directly.

Cons of Working With Summit AR

To use Summit AR's services, you must need at least $50 to be collected on each account. This is a small minimum requirement compared to other collection agencies, but some very small businesses are often looking to collect less than $50 from a customer, which bars them from working with Summit AR.

Summit AR also puts limits on how old delinquent accounts can be. For the best recovery rates, the company recommends accounts be under two years past due. If you have accounts with varying inactive times, Summit AR may not be the best collection agency for your business. Also, if you just need a one-time debt collection, you'll have less wiggle room to negotiate, since it prefers clients with ongoing debt collection needs.

While Summit AR is active in states across the U.S., like other collection agencies, it has a tougher time collecting debt from some states. Those include Hawaii, Nevada, New Mexico, New York and North Carolina.

Key takeaway: Summit AR applies a unique approach to each customer, serves several specific industries, and offers a wide array of services. However, some of its parameters preclude very small businesses from using its services, such as its preference for ongoing collections of debts greater than $50.

Customer Support

The way a collection agency treats debtors is important, and so is how it interacts with its own clients. Small business owners are used to getting the shaft from larger service providers and will appreciate how Summit AR treats clients and debtors. It offers excellent customer service and is accessible by phone, email or online form.

Small business owners won't have to wait around to get answers, because they get a dedicated account manager to be their point of contact, and they can easily check the status of collections efforts in the online portal whenever it suits them. Summit AR is an accredited member of the Better Business Bureau with an A+ rating.

Key takeaway: Summit AR offers excellent customer service and is easily reachable by phone and email.