Collection Agency Services

A collection agency has many techniques and technologies at its disposal in order to provide an effective way of recovering past due accounts. Any or all of these services may be employed to insure the best results on your account.

Letters and Phone Notifications- Your debtor will be notified in and writing and over the phone that the debt has been sent to a collection agency. Both will explain the matter of the debt, the owed amount, and ways to pay off the debt in a way that suits both client and debtor.

Skip Tracing- This is a process of finding information about a debtor who has changed his or her contact information and is thus unreachable. They may have moved and/or changed phone numbers, sometimes as a way to avoid paying debts. A collection agency can use public records to help with this, and sometimes even local or federal databases in order to find the information on the missing debtor.

Credit Reports- A collection agency can pull credit reports if the information is pertinent to the current debt. This can help to understand more about the debtor and their circumstance, thus allowing the collect to choose an appropriate course of action. Each case is unique and requires its own course of action.

Credit Bureau Reporting- A collection agency can report the debtor’s past due account balance to the credit reporting bureaus. This negative information will stay on a credit report for up to seven years. This often spurs a debtor into paying the past due account off before it gets reported.

Judgment Collection- If you have a court judgment, there are many steps that can be taken if the debtor refuses to be such as tracking down assets and garnishments. There are cases where a debtor may try to hide their assets in order to avoid paying, but an experienced collection agency can locate these assets. There are also necessary steps that a collection agency can do for you in order to seize their assets or acquire garnishments or liens.

Attorney Forwarding- If a debtor does not respond or refuses to pay the debt, a collection agency can forward the case to an appropriate attorney. Most collection agencies, such as Commercial Investigations Inc., have a network of attorneys. A lawsuit can then be initiated, if it has been recommended.

Flexible Payment Options for Debtors- Collection agencies that are willing to work out a payment option with a debtor almost always increase the odds of a debt being paid.