- How can I recover the costs
of collecting my accounts?
- How much and what type
of information should I obtain before
doing business with a customer?
- Can I collect on really
old accounts?
- How quickly are my accounts
worked on once I send them to you?
- How long do I have to submit
my accounts to you?
- How long will you work
on my accounts?
Question:
How can I recover the costs of collecting
my accounts?
Answer: We recommend
you put a disclosure on your paperwork,
that the customers signs, agreeing to pay
costs if needed to collect on their account.
Our guidelines read the same as the Fair
Debt Collection Practices Act, Public Law
95-109, as amended by Public law 99-361,
in July of 1986. It States "Client is advised
that it is improper to add any interest,
fee, charge or expense incidental to the
original debt unless such amount is expressly
authorized by the agreement creating the
debt.
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Question:
How much and what type of information should
I obtain before doing business with a customer?
Answer: As much as
possible, if that person skips out, you
want to have enough information to find
them or for us to find them. One of the
tools we recommend is a standard credit
application, this usually provides the information
that is really important eg. Name, Address,
Social Security number and other things
like references, relatives and other helpful
information. We can provide you with one
of these upon request.
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Question:
Can I collect on really old accounts?
Answer: We advise
people that we will collect on accounts
as old as seven years in most area's. This
is determined by the statute of limitations
in your state. With a judgement on an account
it will usually extend the time beyond the
regular statute.
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Question:
How quickly are my accounts worked on once
I send them to you?
Answer: Each account
has collection action taken with-in 48 hours.
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Question:
How long do I have to submit my accounts
to you?
Answer: Once you hire
us you may send in all your accounts that
same day or you may submit the accounts
over time, the contract is open-ended.
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Question:
How long will you work on my accounts?
Answer: We will continue
to work your accounts until one of the following
occurs: you cancel the account, we have
effected collections in-house, or we have
placed the account with an attorney in the
debtor's area.
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