An Introduction to Collection and Debt Recovery

If you are a company handling business to business collections, or maybe you are just attempting to recuperate unpaid bills from a single client who bounced a check, a respected debt collection agency  can assist you in this fight.  It is not always necessary to call in an attorney, there are many times that a agency is appropriate.  Whether you need an agency, or a creditor’s rights attorney, is not alway obvious, call us for guidance.   For this article series, we will lean towards “debt collection professional” and frequently not differentiate between an agency and an attorney.

You will find numerous debt collections professionals; therefore carrying out some research will be helpful.  Be sure to carefully interview the professional that you chose, as our industry, like any, has its finest, and also some less than reputable players.  Remember that the professional you chose will in many ways also be representing your organization.

Time Is of the Essence.   Effective recovery starts with quick action.  It is not smart to just wait over 90 days to start attempting to recoup debt on past-due accounts. Here is where a debt collection professional matters. They can instantly start connecting with your debtor via telephone calls and via mailed correspondence. If and debt collection agency cannot reach your debtor after many attempts, they might transfer your case to a collection lawyer. The collection lawyer will typically be able to collect from your debtor since most people dread legal action. When the debt is reclaimed, the final thing that has to be done is to compensate the agency the fee that was owed when they were hired.

 

This is a series, and will be continued.

 

Marcadis Singer, PA are debt collection attorneys.  We work with collection agencies, and with companies and individuals in the collection of debt.  We are litigators, and are frequently in court when that action is warranted.

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