HOMEThird Party Collections » SONAR

Convergent Receivables Management

SONAR is an exclusive Convergent data-based collection recovery program which targets warehouse accounts from two to six years old, where the statute of limitations has not expired. Like a nuclear submarine listening for other boats, SONAR constantly monitors multiple credit databases for activity indicating a favorable change in the consumer’s ability to pay the outstanding debt. Upon detecting such activity, SONAR automatically targets the account for renewed collection.

The Problem

Many creditors have old accounts receivable that are still in statute but are uneconomic to collect using traditional collection methods.

The Convergent Solution

SONAR targets warehouse accounts from two to six years old, monitoriong multiple credit databases for activity indicating a favorable change in the consumer’s ability to pay the outstanding debt. Upon detecting such activity, SONAR automatically targets the account for renewed collection.

The Bottom Line

Increased cash flow from older warehouse accounts with an economically attractive commission and net back.