Status Reports

Each section below will provide further guidance on the status of your account(s).

Also, when looking at your Status Report, you will see on the right side what WCS calls the “Recovery Sentiment”. This is a quick way to see if your account is likely to be collected and is reviewed and updated each time WCS’ staff works on your account(s).

A: Payment(s) made and/or recovery anticipated.

B: Positive outcome unclear; continuing efforts.

C: Non performing account: recovery unlikely.

As always WCS welcomes the opportunity to help your team. If you have additional account(s) that you would like to place, please click here

COLLECTIONS STATUS

ACTIVE DEBTOR
Account status being updated by management.
INITIAL PROMISES BEING MADE
Debtor asserting that payment will be made, working to extract additional details.
DEBTOR CONTACTED BUT STALLING
Debtor asserting reasons for non-action, working to extract additional details.
HOPEFUL OF AMICABLE RECOVERY
Debtor asserting that payment will be made, working to extract additional details.
DEBTOR IGNORING DEMANDS
Debtor has evaded contact by WCS and or has ignored all demands to date.
INITIAL PROGNOSIS: DIFFICULT RECOVERY
Debtor is either evading efforts for payment or has indicated that there is a dispute. Attempting to extract details.
ATTEMPTING TO LOCATE DEBTOR
Debtor vacated the location presented upon placement and a new location of business has yet to be identified
DEBTOR CLAIMS TO BE OOB
Debtor asserts they are no longer in business. Attempting to extract more details.
DEBTOR APPEARS TO BE OOB
Debtor seems that they are no longer in business. Attempting to located more details.
OOB; RECOVERY UNLIKELY
Debtor is no longer in business. Attempting to located more details for closing memo to Client.
HOLD PENDING CREDITOR ADVICE
Request was sent to Client for review.
DEBTOR EVADING DEMANDS; AMICABLE RECOVERY
Effectuating most stern demands upon the debtor entity in an attempt to change trajectory on account.
INITIAL EFFORTS TO CONTACT
Recent placement, collection staff effectuating initial recovery efforts.
MANAGER REVIEW
Management currently reviewing account.
NEGOTIATING REPAYMENT PLAN
Negotiations underway with debtor to formulate a repayment arrangement.
REPAYMENT PLAN PROCEEDING
Payment(s) received according to repayment arrangement.
PARTIAL PAYMENTS RECEIVED
Payment received by WCS or confirmed by Client.
CLARIFYING DISPUTE WITH DEBTOR
Navigating issues with the debtor's dispute.
NEGOTIATING SETTLEMENT
Negotiating with debtor to extract the most beneficial settlement opportunity for Client.
DEBTOR CLAIMS PTC; VERIFYING
Debtor asserts that payment(s) will be made directly to Client or that payments have been sent to client. Attempting to verify with debtor.
DEBTOR DISPUTING ACCOUNT
Working to obtain detailing of debtor's reasoning for non-payment.
RECENT PLACEMENT INITIAL EFFORTS
The first status that WCS sets in QT for a commercial account
NUMEROUS BROKEN PROMISES
Debtor is stalling by way of making false promises to either liquidate the account.
DEBTOR ALLEGES CASH FLOW PROBLEMS
Debtor has communicated that there is no dispute on file but due to a poor financial situation payment has not occurred.
DEBTOR DEALING w CLIENT
Client requested that the account be held pending further update.
30 DAY VALIDATION
Initial demands to Consumer Account.
EQUIPMENT READY FOR P/U
Debtor has communicated that either merchandise or equipment on hand is ready for return or a pick up. Communicating with client on next steps.
FREE DEMAND
Account is currently inside of Free Demand Period; pending client update.
FINAL DEMANDS BEING ISSUED
Account has not produced payment or sufficient traction. Management is reviewing and or working on account to determine if there can be a resolution in house or if the account is to be escalated to local counsel.
CONTACTING GUARANTOR
Account has a personal guarantor on file that WCs is either working to contact or is already communicating with.
HOLD PER CLIENTS REQUEST
Client requested that the account be held pending further update.
NUMEROUS MESSAGES LEFT FOR DEBTOR
Collection efforts are underway but as of yet debtor has been unresponsive to written, telephonic, and/or electronic collection demands.
LEGNTHY RECOVERY ANTICIPATED
Due to debtor's current financial position an extended repayment agreement may be put in place.
NEGOTIATING REPAYMENT PLAN
A repayment agreement is being negotiated by WCS.
NEW
New Account
NSF PAYMENT ON FILE
Debtor has made payment to WCS but funds were not sufficient; attempting to reconcile with debtor.
GUARANTOR ON FILE; CORP CLOSED.
While the entity is no longer operational, the account has a personal guarantor on file.
POST DATED PAYMENT ON FILE
Debtor has made payment(s) to WCS for deposit at a later date.
PARTIAL PAYMENT(S) MADE
Debtor has made partial payment(s) to WCS.
DEBTOR PROMISING TO PAY
Debtor has communicated to WCS that payment arrangements will be made on the account.
DEBTOR PAYING TO CLIENT
Debtor has communicated to WCS that payment will be made directly to Client.
PAYING / PAID TO CLIENT
Debtor has communicated to WCS that payment will be made directly to Client.
RE ACTIVATE FILE
Account has been reopened after closure due to the request of Client
REQUESTED ADDITIONAL BACKUP
Additional, supporting documentation has been requested from client.
DEBTOR REQ TO RETURN MERCH
Debtor has communicated that either merchandise or equipment on hand is ready for either a return or a pick up. Communicating with client on next steps.
DEBTOR REFUSING TO PAY
Debtor not cooperating, WCS is attempting to isolate reasoning from debtor.
LEGAL REVIEW
WCS management is currently reviewing the account to determine if it merits escalation to local counsel.
DEBTOR ASSERTS FILING BK
WCS is working to determine if debtor's assertions of a pending Bankruptcy is legitimate.
BALANCE IN FULL PAID
Account has been paid in full, either to Client directly or to WCS.
DEBTOR FILED CHAPTER 11
Bankruptcy Protection, collection efforts must stop. Refer to closing email from WCS.
DEBTOR FILED CHAPTER 13
Bankruptcy Protection, collection efforts must stop. Refer to closing per closing email from WCS.
DEBTOR FILED CHAPTER 7
Bankruptcy Protection, collection efforts must stop. Refer to closing email from WCS.
CANCELLED AND RETURNED
Account was returned back Client, per closing email from WCS.
CANCEL
The account was returned back Client, per closing email from WCS.
CANCEL PER CLIENT NO FEE
At Client request, account was returned, no collection fee applies.
SMALL BALANCE
Collection efforts did not result in a recovery; balance too small for legal escalation.
CANCEL LEGAL BY AGENCY
Account was returned back Client due to account not being suggested or approved for legal involvement or action by WCS.
LEGAL PER CLIENT
Legal account was returned back to Client, per request.
PARTIAL BALANCE PAID
Partial recovery was made by WCS; remaining balance too small for legal escalation.
PAID NON DISPUTED
Partial recovery was made by WCS; remaining balance is disputed, legal escalation not suggested per closing email from WCS.
BACK UP NOT PROVIDED
Legal account was returned to Client; WCS unable to continue efforts without sufficient supporting documentation.
CANCEL PER CLIENTS REQUEST
The account was returned back to your office per your explicit request.
DISPUTED UNSALVAGEABLE
Balance remained disputed, salvage unsuccessful, legal escalation not suggested per closing per closing email from WCS.
OUT OF BUSINESS (OOB)
Debtor entity no longer operational.
DEBTOR REFUSES TO PAY
Debtor refused to work towards any sort of resolution. Account not suggested or approved for legal escalation.
CANNOT LOCATE DEBTOR
Account was returned back to Client; WCS unable to locate the principal debtor and or debtor entity.
COURT COSTS IGNORED
Account was returned back to Client; WCS presented requirements to proceed with legal action but did receive a response from Client. Counsel was directed to retire file.
CLOSED DISPUTED
No recovery was made by WCS; balance disputed, legal escalation not suggested per closing per closing email from WCS.
DUPLICATE PLACEMENT
Account was returned to Client as an active duplicate exists or was previously closed.
CORP CLOSED-NO ASSETS
Debtor entity is closed, without assets to liquidate its' liabilities to secured or non-secured creditors.
CORP SOLD ASSETS TO NEW OWNER
Debtor entity sold assets to another company. Purchasing entity not liable for the obligations of the debtor.
PAID DURING FREE DEMAND
Debtor paid balance to Client during Free Demand period: No collection fee due.
PAID PRIOR TO PLACEMENT
Client requested that the account be returned: No collection fee due.
ACCOUNT SETTLED IN FULL
Account has been paid per the agreed upon settlement parameters to Client or to WCS.
UNCOLLECTIBLE JUDGMENT
Counsel returned account as Judgment on file was not satisfied due to the absence any debtor assets.
COURT COSTS TO CREDITOR
WCS has presented requirements to proceed with legal action.
COUNSEL ISSUING DEMANDS
Local Counsel is attempting to communicate to the debtor.
SUIT FILED; ATTEMPTING SERVICE
Local court is attempting to formally notify the debtor of legal Clients legal action.
AWAITING DEFENDANTS ANSWER
Local court formally notified the debtor of legal action. Debtor has a statutory amount of time to respond to the Court.
DEBTOR SERVED WITH SUMMONS
Local court formally notified the debtor of the legal action.
AWAITING UPDATE FROM COUNSEL
WCS has requested an update from local counsel on status of account.
AGENCY FORWARDED ACCOUNT
WCS is currently awaiting acceptance of account from local counsel.
ESCALATED TO LOCAL COUNSEL
WCS is currently awaiting acceptance of account from local counsel.
ATTORNEY FILES COMPLAINT
Local Counsel has received the necessary documentation to file suit and has done so.
AFFIDAVIT TO BE COMPLETED
WCS has presented to Client an Affidavit to be completed and possibly notarized. Client is to refer to communication from WCS for further instructions.
INITIATE PROCESS OF SERVICE
Local court is attempting to formally notify the debtor of the legal action that was authorized by your office.
ASSET ONLY SALE: ENTITY CLOSED
Local counsel advises that the debtor entity was sold and there may exist and opportunity for a recovery due to a potential asset sale by the debtor or their agents.
ATTORNEY ASSIGNED
WCS is currently awaiting acceptance of account from local counsel.
ASSIGN ATTORNEY
WCS is currently awaiting acceptance of account from local counsel.
DEALING WITH DEBTORS ATTORNEY
Debtor has made it known they are being represented by counsel.
ATTORNEY VERIFIED ASSETS
Local Counsel has determined that the debtor has sufficient assets which may justify legal action or justify post judgment efforts.
AWAITING COUNSEL ADVISEMENT
WCS has requested an update from local counsel on status of account.
SUIT REQUIREMENTS SUBMITTED
WCS has presented requirements to Client in order to proceed with legal action.
BANKRUPTCY WATCH
The debtor or debtor's lawyer has asserted that a Bankruptcy filing is forthcoming; working to extract details.
COURT COSTS SUBMITTED
WCS has presented requirements to Client in order to proceed with legal action.
ATTEMPTING SALVAGE
Local Counsel has determined that the debtor does not hold sufficient assets to justify legal action or justify post judgment efforts.
DEFAULT MOTION FILED
Debtor did not respond to Summons and Complaint with official response to the Local Court.
Local Counsel currently requesting from the local court that judgment be approved by "default"
MOTION FOR JUDGMENT FILED
Debtor did not respond to Summons and Complaint with official response to the Local Court.
Local Counsel currently requesting from the local court that judgment be approved by "default"
ATTORNEY SENDING DEMAND
Local Counsel is attempting to communicate to the debtor.
ATTORNEY DRAFTING COMPLAINT
Local Counsel preparing documentation to submit to Local Court for legal action.
DISPUTE ON FILE; CLIENT REVIEW
Client has been presented with additional information regarding the account once it has been escalated to local counsel.
DETERMINING VIABILITY FOR SUIT
Local Counsel is reviewing the account to decide if the account is a candidate for legal action.
EXECUTING ON JUDGMENT
Local Counsel is attempting to levy debtor bank accounts as a result of obtaining judgment from the Court.
FORWARDED TO LOCAL ATTORNEY
WCS is currently awaiting acceptance of account from local counsel.
JUDGEMENT OBTAINED
Court has decided in favor of Client for monies owed as outlined in the Summons and Complaint.
ACCOUNT IN HANDS OF LOCAL COUNSEL
WCS is currently awaiting acceptance of account from local counsel.
ESCALATED TO LOCAL COUNSEL
WCS is currently awaiting acceptance of account from local counsel.
SUIT NOT AUTHORIZED BY CLIENT
Local Counsel has been notified that legal action was not approved and that a salvage or settlement effort is to be commenced prior to account closure.
POST JUDGMENT EFFORTS
Local Counsel is attempting to secure recovery using a variety of legal measures. Client is to request or refer to detailed updates from WCS.
COURT COSTS SUBMITTED
WCS has presented requirements to proceed with legal action.
COUNSEL SEARCHING FOR ASSETS
Local Counsel is working to determine if the debtor holds sufficient assets to justify post judgment efforts.
SKIP TRACE FOR ASSETS
Local Counsel is working to determine if the debtor holds sufficient assets to justify post judgment efforts.
ATTORNEY ASSET SEARCH
Local Counsel is working to determine if the debtor holds sufficient assets to justify post judgment efforts.
ATTORNEY ACKNOWLEDGEMENT
WCS has received acceptance of account from local counsel.
As always WCS welcomes the opportunity to help your team. If you have additional account(s) that you would like to place, please click here