Chicago Collection Agency Launches New Website That Hammers Deadbeat Debtors With Help From . . . the IRS?

(PRLEAP.COM) CHICAGO, IL, March 6, 2007 — A Chicago collection agency launched a new website today that shows business owners how to leverage the power of the IRS to collect even the most delinquent accounts. The new website is www.chicagocollection-agency.com . The IRS Advantage© Collection System is a new product from credit management firm Stevens & Ricci, Inc.

“Somebody’s got to draw a line in the sand when it comes to debt,” says Ben Ricci, president of the Chicago collection agency that developed the unorthodox debt collection system. “We think we’ve done it with the IRS Advantage© Collection System.” Ricci says his strategy effectively “turns the IRS loose to do the dirty work of debt collection. In a roundabout way, the IRS becomes your partner in collecting even the most difficult accounts,” he says.

“Our approach to debt collection is to use the already-existing pressure points in the tax code,” says Ricci, whose Chicago collection agency’s debt-collection strategy operates on the premise of reporting bad debt as a loss. “This could cause the IRS to view the delinquent debt as income to the debtor,” he says. “And, it’s a well-known fact that the IRS routinely runs computer matches of 1099s.”

Ricci says deadbeats soon realize that all this maneuvering can trigger a closer examination by the IRS. “They understand quickly that this could lead to an audit. And what business wants that?” he asks.

“At this point the deadbeat gives up, reaches into his pocket and pays up,” says Ricci. "Attracting the attention of the IRS simply isn’t worth it to him.”

Ricci, who claims more than two-thirds of all businesses carry delinquent accounts, says his company’s proprietary debt collection system succeeds because it combines accounting principles with debtor psychology. The debt collection system includes:

o Collection letters for corporate and consumer accounts
o Phone scripts
o IRS form W-9
o CD program disk with MS Word® document links to relevant IRS web sites.

“What we provide is not the work of a typical Chicago collection agency, such as upfront fees and per-account fees,” says Ricci. “Pay for it once then use it over and over again. It’s a complete and simple do-it-yourself debt collection system.” The cost is $99.95.

The Chicago collection agency expert says he is often asked if The IRS Advantage© is legal. “I tell them, ‘you bet it is!’ Your firm’s loss becomes your customer’s gain, and can therefore be reported to the IRS on Form 1099-C as income to the debtor.” Ricci says the system also works on retail and commercial accounts, including medical and educational loans and bad checks.

For more information about Chicago collection agency Stevens & Ricci, Inc., and The IRS Advantage© Collection System contact Ricci direct at (888) 722-1611. Company websites are www.irscollect.com and www.chicagocollection-agency.com .


Focus: Chicago collection agency, Chicago debt collection agency, Chicago debt collection agencies, Chicago debt collection

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