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Bad Checks and How to Recover on Them

 In 2000, the number of bad checks written annually was estimated at 750 million. A mid-90’s Nilson Report projected the annual number of bad checks to continue to rise by 2 to 4% every year through 2020.These statistics indicate that both individuals and businesses must know how to go about recovering on bad checks, either by themselves or by working with a national collection agency.While there are many options available, most find utilizing a national collection...

The Value of a Collection Agency To Your Business

 From the smallest start-ups to the largest corporations, successful businesses have known for years how indispensable a good collection agency is. This is especially salient in business sectors where debt default runs rampant—such as in the credit card, banking, and medical industries.Obtaining a reputable debt collection agency provides many benefits:Debts are collected in a much more efficient and timely mannerYour company expends far less time, energ...

Judgment recovery: The easy recovery solution

 Business owners are successful at running businesses and are often not very good at collecting debts. Using a national collection agency can greatly increase your chances of collecting on judgments. Hiring a debt collection agency allows you to focus on your business and not worry about the hassle and stress of trying to be a debt collector. Debt collectors specialize in collecting debts and have the skills and persistence to get positive results. You would not want a tax account...

Use a National Collections Agency to Collect on Your Judgment

Unpaid debt is a heavy burden to any small business owner. Some customers will not pay their bill for a variety of reasons and, to recover your money, you are forced to purue them by hiring a debt collection agency.Many people avoid telling a national collection agency that they cannot afford to pay and since they are scared to call or find some other way to contact them, Creditors send the bill to a national collection agency. There are a host of benefits to using a nationwide col...

Asset Tracing – How Investigations Are Done

An asset is defined as anything owned that is capable of cash conversion or the total resources of a person. In most cases, asset tracing investigations are conducted during divorce or child support proceedings. The only two avenues available for asset tracing are either attempting to do it yourself or retain the services of an asset-tracing professional or agency. Before deciding to act on your own as an asset tracer, it is important to consider the time, the various intricacies involved...

Buying Bad Debt: Large Profit Potential For Investors

Getting into the debt collection market has huge profit potential, especially when the country is overwhelmed with bad debt. There are many types of bad debt out there that can be bought for a margin of the actual bill. Imagine paying 10-cents on the dollar for credit card charge accounts and then being able to collect the debt for a huge profit.Credit card companies are the most common place to purchase bad debt from. Accounts that become more than six months delinquent are often wri...

Outsourcing Your Debt Collection Functions

Running a business in an organized and efficient manner requires you to have the appropriate amount of staff to perform all of the functions required. Though every business is different in one way or another, some companies share specific processes that are required for operation. If you are in a business that loans money or provides work in advance and thus carry accounts receivables as you await payment, you likely need to enlist the services of a debt collection agency. Rather than tas...

Debt Collection Agencies are the Solution

 Once you have exhausted all of your efforts to collect a debt that is owed to you, it is overdue time to call in a debt collection agency to handle this complex task for you. People often use debt collection agencies rather than going through the courts, because it can be less expensive than the judicial route. By the time you get through all of the proceedings, you have usually spent what you would be collecting if not more. Debt collection agencies use up to date methods of col...

Who Are Collection Agencies and What Kind of Businesses Hire Them?

A collection agency is a third party that is licensed to collect debt for the consumers and / or businesses that hire them to do so. The collection agency signs a contract with clients to represent them to actively pursue people and businesses that owe the client money. Typically, collection agencies receive a certain percentage of the debt that they collect. For example, if the two parties agree to 3% of the debt as their payment, this means that upon successful collection of a $100, the...

Skip-Tracing: Locating Debtors Who Have ‘Skipped’ Town With Your money

 If you want to find somebody who owes you money, try skip tracing. Anyone who “skips out” on a financial obligation can be found and courts can make them pay you. Skip tracers are those who work for debt collectors. Their job is to track people down so that they can be served with legal papers or their assets can be seized or modified by a court.Skip tracers also spend a lot of time tracking “dead beat” parents who have refused to pay their half of child support pa...