Delivering a sound, professional and result-oriented collection service requires a supporting cast in the form of professional memberships and affiliations. Along the way, statutory compliance requirements must be met and at the same time the trust factor has to be delivered of which bonds, insurance and trust accounts play an important role. Williams & Williams, Inc. subscribes to a collection philosophy encompassing a professional “code of ethics.” Our Mission Statements tell us about where we are headed in the future, whereas our History touches upon the origins and the road we have traveled.

PROTECTION IN A LITIGIOUS SOCIETY – Williams & Williams, Inc. has secured $5.12 million bonding and insurance protection. Bonds and insurance are renewed and evaluated throughout the year on a periodic basis. Our bonding and insurance program may change to reflect our clients’ perceived needs. To keep liability insurance in force click to DEBTOR COMPLAINTS ABOUT THE AGENCY, which describes how a client handles debtor contact after collection efforts have commenced. For more details about specific bonds and insurance, please click within the chart that follows.

COMPANY OPERATIONS – Statutory requirements and our collection philosophy address present and future needs. Our special delivery of these needs is best described by clicking to BENEFITS: What Makes wwi UNIQUE?

We subscribe to a “professional collection code of ethics,” which is mandated by our membership with the International Association of Commercial Collectors (IACC). Williams & Williams, Inc. is a Kentucky corporation in good standing with the Louisville-Metro Better Business Bureau and the Kentucky Collector’s Association. WWI operates in the state of North Carolina, which imposes upon collection agencies the strictest standards in the world (North Carolina Department of Insurance permit #101908). In addition, the State of North Carolina mandates incumbent requirements upon creditors operating within the state. For more information, see NORTH CAROLINA STATUTORY REQUIREMENTS and CREDITOR/AGENCY NORTH CAROLINA STATUTORY REQUIREMENTS. For bonds, which are required, see NCDI BONDS and STATE OF NORTH CAROLINA DEPARTMENT OF INSURANCE. For a more detailed examination of the professional collection code of ethics including compliance verification click to CERTIFICATE OF COMPLIANCE and COLLECTION CODE OF ETHICS. For Federal legislation go to CREDIT GRANTORS STATUTORY REQUIREMENTS UNDER THE EQUAL CREDIT OPPORTUNITY ACT (ECOA).

HEART AND SOUL PRESENT AND FUTURE – Once the brick and mortar needs of our clients have been satisfied, a solid foundation can be laid for future objectives. What we have evolved to can best be described by examining our collection philosophy at OUR COLLECTION PHILOSOPHY. As for the future, please see our MISSION STATEMENTS.

PROFESSIONAL MEMBERSHIPS – Professional memberships ensure that quality service standards are delivered to our clients. The association between agencies, attorneys and law list publishers is best explained by clicking to TRIADIC SYSTEM.

Our membership in ACA enables us to purchase PROFESSIONAL LIABILITY INSURANCE, bonds and other insurance products at affordable rates. WELCOME TO IACC describes our membership in the International Association of Commercial Collectors, which provides educational, legislative and forwarding needs to commercial collection agencies.

PROFESSIONAL SERVICE AFFILIATIONS – Professional service affiliates of Williams & Williams, Inc. partner with us to deliver professional collection services to our clients. Two of utmost importance are our banking and accounting relationships.

BANKING – Both statutory requirements and ethical business practice mandates that trust accounts be created and maintained for the exclusive protection of our clients. This means that operating funds of Williams & Williams, Inc. must be kept separate and distinct from our clients’ proceeds. Our bank requires operating agreements whereby the rules and regulations of a trust arrangement must be followed. The specific accounts, as designated by name, reflect these “trust arrangements.”

WILLIAMS & WILLIAMS, INC. FINANCIAL STATEMENT INFORMATION - Williams & Williams, Inc. is a closely held corporation and does not publicly disburse specifics to credit reporting companies. If such information is needed, we prefer that our clients obtain precise information through our accountant. Williams & Williams, Inc. operates on a calendar year cash accounting basis. A descriptive explanation relative to any needed financial information would be well received and answered by our accountant. If such information is needed, upon request we will have our accountant provide it.

HISTORY – Williams & Williams, Inc. was founded in 1985. Our Internet address was coined from pleas we heard from credit professionals time and time again – “I don’t care what the debtor says, just COLLECT THE MONEY.” Up to the inception of Williams & Williams, Inc., all agencies charged the same rates inclusive or exclusive of employing a commercial collection attorney to take legal action. The attorney consumes most of the contingent collection fee expense. We thought, why not offer a discount to the credit granting trade between 30% and 40% if an account was collected without the intervention of counsel. The rest, as one would say, is “history.”

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