Parson-Bishop Services, Inc
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“We have received excellent collection results at a very low cost for over 25 years. We would definitely recommend Parson Bishop to any company that needs help with their receivables.”
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  Services, OH

Serving Clients,
Nationwide,
Since 1973


 
Explanation of Collection Services for Greek Chapters
   

Parson-Bishop Provides Past Due Account Collection Services to Hundreds of Greek Chapters and House Corporations

Parson-Bishop provides collection services to your chapter and charges a fee based on the effort required to collect, rather than a fixed amount of 30 to 50 percent regardless of effort needed. This feature saves our clients a great deal of money. Collection services are provided in up to three phases, depending on what phase is needed for collection.

“We have used the collection services of Parson-Bishop Services for many years and have been very pleased with the results and service”

— Alpha Xi Delta, Fraternity Headquarters, Indiana

Phase I

Each new account submitted for collection will be contacted by Parson-Bishop up to four times over a period of approximately 45 days. If we can collect in this phase, your cost will be about 50 percent less expensive than other services would charge. This is the primary benefit offered to your local chapter and the savings in fees can be very substantial. Parson-Bishop offers you two programs to select from in Phase I.

  • The Value Plan offers to collect for a flat fee of only $16.50. There are no percentage fees. This is a processing fee to make the necessary collection contacts, so you would pay the fee whether or not we collect. There are no advance payments. Parson-Bishop bills you monthly for the number of accounts you submit for service that month. Due to the very low cost of this plan, we instruct the debtor to pay you direct and you must notify us when payment is received (forms are provided for this purpose).
  • The Preferred Plan is another plan you can select. Rather than charging you to process each account, Parson-Bishop only charges you a low 18 percent if we collect. All moneys are collected by Parson-Bishop and we send our check to you less our fee. This plan is more comprehensive than Value in that personal contact by telephone is used which adds collections at the lower cost in Phase I.

Phase II

Some accounts will need more extensive effort in order to collect them. If Phase I does not collect, then the accounts move to Phase II and are assigned to one of our staff members for personal one-on-one collection follow-up until the accounts are collected or deemed uncollectible at this time. In general terms, our staff will work with each account in this phase for 60-90 days. Since this is a more personalized follow-up over a longer period of time our fees, if we collect, are 35 percent of any amount actually collected.

 

Phase III

Accounts that do not respond to all the efforts outlined above are very difficult accounts that do not intend to pay. Once the efforts in Phase II are completed without success, they are then reported by Parson-Bishop, in our name, to all national credit reporting agencies as an unpaid collection account. This designation on a credit report will prevent the person from obtaining credit until they pay the account. Credit lenders will advise the person they must clear the obligation and re-apply before credit can be granted. If the person wants the car, house, credit card, etc, there is a strong motivation to pay. Since the information remains on the credit report up to seven years, and we must continually monitor the account, our fee only if we collect is 50 percent. The seven year follow-up program is a Parson-Bishop exclusive and provides many collections that would otherwise be lost. We do not know of any other service that follows accounts over this period of time.

Additional Details

  • Monthly Reports:
    While accounts are in Phase I-II you will receive status reports outlining our activity. The reports also act as an acknowledgment so you know your accounts have been received and are in process.
  • Collection Activity Statement:
    As moneys are collected, you will receive a month end CAS detailing the transaction(s) and our check, less our fees, will be attached. This report will become one of your favorites!
  • Client Service Center:
    If you need assistance just call our service center at 1-800-543-0468. Parson-Bishop’s staff is well trained and eager to provide cheerful service. In fact, quality, professional service is one of our most important traditions.

How to Get Started

Select the Phase I plan you want, approve the agreement (by law we must have your approval to contact your accounts), and fax, mail or email it to our corporate office. Parson-Bishop’s fax number is 513-527-8919. On receipt, we will prepare our new client materials package and either mail or UPS it to you. The package will have complete instructions and will include forms to submit your accounts.

Thanks again for the opportunity to work with your chapter and collect money that would otherwise be lost to you. Please call if you have any questions or needs.

“We are very pleased to have subscribed to Parson-Bishop’s Greek Licensed collection service. The results have been excellent and we are well satisfied.”

— Chapter Advisor, Sigma Alpha Epsilon Fraternity, Colorado
       
Greek Licensed Collection Services Serving Greek Organizations  
 
 
   
 
   
 
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