October 2002

Have a Safe and Happy Halloween this year!

Upcoming Events

Livingston County Expo
October 9-10, 2002

Detroit Dental
November 23, 2002

Welcome to Our New Clients

o Cinpres Gas Injection
o Rontal Clinic
o Westland Plaza Apartments
o Gardner's Towing
o Mack's Auto Supply / Larry's Towing
o Jasper Lumber
o What on Earth Inflatables

Welcome New Employee

Don't be surprised to hear: "This is Tiffany, how can I help you?", when you call our office. Tiffany joined our team on September 9th as a front office support staff. She is doing a wonderful job and yes, she can help you.

Our Offices

Adrian Credit Bureau
(517) 265-8161

Ann Arbor Credit Bureau
(734) 665-6173
(800) 710-4821

Jackson Credit Bureau
(517) 787-5333
(877) 787-6273

Saginaw Credit Bureau
(989) 799-3800

Questions frequently asked by our clients:

1. Do you have an e-mail address?

Yes. You can e-mail us at serviceaacb@aol.com or our general site a2cbcsd@aol.com Attention: Client Consultant.

2. Can I fax new business to you?

Yes. Our fax # is 734-663-5794

3. How much do you usually collect?

The national recovery average is 16.7%. Our average is 20.3%. We consistently maintain a higher average than the national.

4. Why is the listing sheet (pink sheet) so important?

It provides us pertinent information such as: your company information, batch information and the type of service you need.

5. What is the minimum account balance you accept?

$25.00

6. Do I have to return suit authorization papers if we don't want to sue?

Yes. Then we know what your intentions are and how to proceed.

7. Why is it important to respond to disputes within 15 days?

We are governed by the Fair Credit Reporting Act. The act states that the debt will be removed from the credit file until the debt is verified by you, the Client. In addition, we must cease communication. Their guidelines advise 30 days, we like to ensure time to respond within the 30 days.

8. If I have an account with a bad address should I still send the account?

Yes. We will conduct skip-tracing efforts to locate a new address.

9. What is the net back?

It is your net return, which is based on a combination of rates and recovery. The calculation below will indicate monies back in your pocket. An excellent tool for evaluating performance.

Net Return Per Dollars Placed:

Agency collections - agency fees / dollars placed = your net back

Net Return Per Account: Net dollars returned / number of accounts placed

New phone hours:

Starting October 1, 2002 our new telephone hours will be as follows:

Mon - Thursday:  8:30 am-7:00 pm
Friday: 8:30 am - 5:00 pm
Saturday: 8:30 am - noon

High Payment of the Month

The highest payment of the month was collected in our Adrian Office. Dawn Sanchez brought in a $3000.00 payment for the local medical facility!!! Congratulations!!!

Detroit District Dental

We will be presenting our Recovery Skills Seminar at the Detroit District Dental Society's 61st Dental Review on Saturday, November 23, 2002. The seminar will run from 8:30 am to 11:30 am. For more information please call us at 800-710-4821.

Recovery Skills Seminar

Thanks to all those clients that recently attended our Recovery Skills Seminar. We had a nice turnout and according to evaluations by the participants, all found it a very worthwhile experience. Based on our seminar evaluation forms, the presentation was rated excellent and the attendants were extremely satisfied. As one participant put it, "Very educational. Beneficial for every business. A must."

The secret to financial success is to spend what you have left after saving, instead of saving what you have left after spending... -Anonymous

Should you file for bankruptcy now?

The bankruptcy reform bill soon will make financial relief more difficult to find if you make more than the median income. If you're a candidate for bankruptcy, here's what you must know.
(from MSN Money)

Filing for bankruptcy is about to become more complex, involve more paperwork and cost more in legal fees.

The new law would prevent many people from filing under Chapter 7, the bankruptcy code that erases most debts. Instead, they may be forced to file under Chapter 13, which requires repayment of at least some of what they owe. There are two factors that determine who can file for Chapter 7 bankruptcy:

• Income testing - if you and your family make less than your state's median income for a similar-sized household, you won't be affected as much by the new law.
• Means testing - if you make more than your state's median, your hurdles are considerably higher. Essentially, if you have even $100 a month left over after what the bankruptcy court says are "reasonable" expenses, you'll be shunted into Chapter 13.

If you might be affected by the new law, consider the following steps:

• Tally up your debts and try to figure out a realistic repayment plan - if you are current on your bills and could repay what you owe in three years or less, bankruptcy is not a good option for you. The damage to your credit report can last up to 10 years, making it difficult and expensive for you to borrow in the future.
• Negotiate with your creditors - they may be willing to lower your interest rates or forgive a portion of your debt.
• Consult both a bankruptcy attorney and a credit counseling service.
• If bankruptcy appears inevitable, file now; delaying it will cost you more in the long run, and you may not be able to qualify for the relief you could get by filing before the reform law takes effect.

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Ann Arbor Credit Bureau, Inc.
311 N. Main   Ann Arbor, Michigan   48104
800.710.4821     734.665.6173
info@a2cb.com