Debt Collection Faqs

 

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Table of Contents

  1. What states can you collect from?
  2. What are my options if my debtor is in a state you can't collect from?
  3. How does an account become legal? Will I have a say for which accounts I want litigated?
  4. What kind of volume are you prepared to handle?
  5. I've had bad experiences with collection agencies before, how do I know you are working my accounts? 
  6. How soon can my money be recovered?
  7. Do you have an attorney in your office?
  8. Will you collect commercial accounts?
  9. Why don't you publish rates on your website?

What states can you collect from?

We specialize our collection in Colorado. However as we expand it will be noted.

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What are my options if my debtor is in a state you can't collect from?

We have the privilege of being able to forward an account to any one of 300,000 reliable agencies across the America's, Europe, and more!

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How does an account become legal? Will I have a say for which accounts I want litigated?

When a collector finds that your debtor has a job or a bank account or even owns property the account is "flagged". If the debtor refuses to pay, you will be contacted and asked your permission to litigate the account. Commonly you will receive an "assignment" by mail or fax. The assignment is a contract giving us permission to sue and stating what our new commission will be (which is 35% for all legal accounts.) Accounts will never be litigated without your permission.

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What kind of volume are you prepared to handle?

You Name it, we will take it on. We have the equipment, personnel, and dedication it takes to go up against our other "Big Name" Competitors. Not only that but we also handle many clients that only have a few accounts to place. How do we do this? It's called personal attention, where the customer is always right! When you call our office, you won't be hopelessly transferred to the collection department. You will be transferred to client services, and that's the way it should be. 

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I've had bad experiences with collection agencies before, how do I know you are working my accounts? 

Every month you will receive a statement, even if we haven't collected anything for you that month! If that is not enough, you always have the option of calling client services for personal help.

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How soon can my money be recovered?

It really depends on the account. A majority of new accounts can be collected in the first month. Which means you will have your money the beginning of the next month. Some accounts can take 60 to 90 days to collect. Unfortunately some accounts can never be collected. But we wont give up! the statute of limitations is 6 years in most places. That means that we will hold on to the account until we are no longer legally able to collect it.

This is the theory behind our rates. If we give you a good rate for "newer accounts", we are encouraging you to turn over your bad debt sooner, because that is the prime time for the accounts to be collected. Don't wait until the person who owes you money disconnects their phone and falls off the face of the planet. Money owed to you should be collected ASAP, Not next month, or when tax time comes!

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Do you have an attorney in your office?

No. Our attorney is not a salaried employee.

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Will you collect commercial accounts?

YES!

Why don't you publish rates on your website?

People will commonly avoid paying a collection agency, and not publishing rates we remove one more motivation for debtors to not pay their bills.

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