Frequently asked questions

Q. What type of claims may be sent for collection?

A. The claim must be based upon either a promissory note or a contract for the provision of goods or services. The contract should be in writing, and it must be possible to reduce the claim to a specific dollar amount. Claims for personal injury or other tort claims are not accepted for collections.

Q. How soon may I send an account for collection?

A. There is no law that specifies how much time you must give a person to pay before placing the account into collections. Whether you try to collect the account yourself, and for how long you try, are individual business decisions. The time to send the account for collections is at the point where you have done as much yourself as you care to and there is no prospect for payment. If you are not interested in attempting to collect yourself, you can send an account to collections as soon as the money is due.

Q. Is there a minimum claim amount?

A. For clients who regularly place accounts for collection, there is no minimum. For clients with a single account, or who place no more than infrequently, the minimum claim amount is $300.00.

Q. What are the chances that my claim will be collected?

A. It is impossible to say for any one claim. Whether we are able to collect an account depends upon several factors specific to the individual debtor. In some cases, there is not enough information available for us to be able to even find the people.

Q. How soon will I start to receive money on my account?

A. When, if ever, we will be able to collect on an account is impossible to know. In the best case scenario, the debtor will pay in full after learning a collection agency in involved. In some cases, it may take us years to track a person down.

Q. If there is payment on an account, how soon do I receive my share?

A. We remit money to our clients monthly. Payments to our clients are sent within two weeks of the end of the month in which the payment is received from the debtor.

Q. How do I learn about the status of my accounts?

A. Status reports are sent quarterly to all clients unless they request more frequent reporting.

Q. If a debtor files bankruptcy, can you still collect the debt?

A. As soon a bankruptcy case is filed there is an automatic stay put on all collection action. If the debtor has any assets, we may file a proof of claim and we will eventually receive some money from the bankruptcy trustee. However, in general, we either receive nothing or a very small percentage of the claim after bankruptcy has been filed.

Q. Can you still collect if the debtor dies?

A. All assets of the deceased pass into his estate, and we may then try to collect our claim from the estate. If there is no money in the estate, then it is not possible to collect the debt.

Q. What type of supporting documents do you need us to send you?

A. The more documentary evidence you have to support your claim the better. Most claims, especially against tenants, are disputed to some degree. The more evidence we have to support the claim, the greater our chance of successfully collecting it.

Q. Is my personal information given out to debtors?

A. No. We must identify by name who we received the claim from, but we do not need to, nor would we, provide information such as residence address or phone numbers.

Q. Are you licensed and bonded?

A. Yes, we are licensed as a collection agency in Colorado by the Office of the Attorney General and in Florida by the Office of Financial Regulation. We are also bonded, which means that you are insured against our failure to remit money owed.

Q. Are there any upfront fees or sign up charges ?
A. No,we work on a contingency fee basis, we only get paid if we collect your account/s.If we do not collect no fee will be charged.

Q. Do I have to sign a contract ?
A. We have our clients sign a basic agreement on the rates we agree on for the accounts that are placed with our collection service.

Q. Are you members of any professional organizations?

A. Yes, we are members of ACA International -- the Association of Credit and Collection Professionals and adhere to their ethical standards.