Category Archives: debt recovery
Legal And Illegal Tactics A Collection Agency Will Use: Debt Collection Basics Part Three
In the first two articles I defined what a delinquent account that had been sent to collection was, how sending late accounts out to an debt collection company benefits a creditor, and the practice of selling an old debt to a third party collection agency. Continue reading
The First Thing You Should Do If A Debt Collector Calls
When it comes to the subject of debt collecting, there are a lot of misconceptions and misinformation. Here are some tools of the trade that you can use if a debt collector ever calls you. When the collection agent calls, the first thing you want to do is determine if this is a third party collector or an in house collector. Third party collectors are hired by creditors on contingency, while in house collectors are the creditors. Continue reading
What Can A Collections Company Do If I Don’t Pay Up?
There are two useful tools that a collection company can actually do that a debtor should be worried about. These involve negative information being reported to the credit bureaus, and the unlikely probability of a lawsuit. Continue reading
The Truth About Debt Collection Accounts.
The collection agency industry is a billion dollar industry. According to Rapid Recovery Solution, Inc. income from late fees and over-the-limit fees accounted for $14.8 billion dollars in the year 2004. Continue reading
How Does A Collection Agency Get Paid
One of the major benefits to working with a collection agency is that you only pay a fee if they successfully collect on the file you give them. This means if they can’t collect your money, you don’t pay a dime. Debt collection agents operate on a commission, usually collecting about one third of the commission. Continue reading
What To Look For When Searching For Collection Agencies
When scouting for a Business Collection agency, it is critical for businesses to find a collection agency that services their specific needs. Some corporation’s may rely on collection agencies more than others. For example, a freelance graphic designer may only need to use a Collection agency’s services once during his or her entire career. However, a larger company, such as a credit card company, may require the services of a Collection agency more repeatedly. Continue reading
What Can A Collection Company Do?
What is a collection company? Continue reading
How To Effectively Collect Debt
The main point is, the more time that passes between the time the payment was owed and the time the consumer is contacted, the less likely you are to packet any sort of payment. If you’re serious about making a turnout, there are three ways to handle collection on past debt; in house efforts, hiring a collection agency, or taking legal action. Continue reading
10 Tips To Help Collect Past Due Accounts
Ten Tips on how to collect debt: Continue reading
So Called Debt Collector Scams Seventeen Victims Out Of Money
A bill collector in Williamsville recently pleaded guilty to fooling a local bank in a fraud that caused his nearly two dozen victims to lose $440,000. Noah Schapiro, the man who ran the fraud was informed by the State Supreme Court that he will most likely face a prison term of six to twelve years and will that he will be forced to sign confessions of judgment for his whole scam to seventeen debt investors and the Citizens Bank. Continue reading