A bank garnishment is a means of collecting debts by recovering money directly from a debtor’s bank account. This process is usually a result of a Sheriff’s or Marshal’s Bank Execution. Ignoring outstanding debts can lead to wage garnishment and the freezing of bank accounts. While there are many tactics to collecting debts, bank garnishment is often the most effective way of recovering money from a debtor.
What Is Garnishment?
Types of Debt That Can Result in Wage Garnishment:
When you employ a debt collection agency such as Accounts Retrievable, we attempt to collect debts through other means as it is the best practice when a debtor pays willingly. Part of doing this is having a vigilant and persistent debt collection agency that can work to understand the debtor and their current financial situation to find a solution that works for all parties involved. However, there are some debtors that are simply unwilling to pay or unwilling to make the sacrifices necessary to pay their debts. It is at this point where bank garnishment orwage garnishment is the solution to recovering judgments and debt.
Bank garnishment is effective since the money is taken directly from the bank account of the judgment debtor. Not only will the creditor get their money back, but the debtor is forced to face their financial situation. When the action taken affects a debtor’s ability to pay other bills or buy things they want, people can not help but address this unfortunate situation.
At Accounts Retrievable, we have a long running track record of recovering debts while maintaining respectful and legal practices. We pride ourselves on being able to help our clients collect judgments while maintaining positive relationships with the creditor and debtor alike. Some debt collection agencies are highly aggressive to the point of harassing debtors. However, we feel that all people should be treated respectfully. This is not to say that we are not aggressive, we just have a mission to have positive business relationships and abide by the law.
Debt collectors who work on commission may be highly motivated to convince debtors to pay the debt; These practices are highly regulated by The Fair Debt Collection Practices act, State laws to protect consumers, the Consumer Financial Protection Bureau (CFPB), the Federal Trade Commission,and State regulatory agencies. Several Federal and State higher courts decisions have outlined several bad practices; Heintz vs. Jenkins,In re: Vinhee, Mcollough vs. Johnson, Rodenburg, Lauinger, Komarova v. Nation Credit Acceptance Inc.
The FDCPA prohibits calls to the debtor if the call will cost the debtor toll charges (in most other countries recipients of telephone calls are not charged, so this issue does not arise). The FDCPA also establishes what time of day calls can be made at, to whom and where. If a person answers, the call center may track statistics (e.g., the times and days when someone answers) in order to place calls at times when the debtor is more likely to be home; typically this is done by an automated dialing system between the times of 8am and 9pm local standard time. The collector may not use illegal and deceptive practices (for example, threatening the debtor with arrest or impersonating law enforcement). The collector cannot use obscene language and must inform the debtor of the nature of the call (collecting a debt) and their name and the name of the collection company when requested.
Collection agencies are sometimes allowed to contact individuals other than the debtor, usually in an attempt to locate the debtor but without mentioning the debt. In the US, a collector is permitted to call a neighbor or relative for help in locating the person who owes a debt. Collectors may only ask for “address, home phone number, and place of work.” Collectors are “not permitted to discuss [the] debt with anyone other than [the debtor], [their] spouse, or [their] attorney.” Collectors must state their name and must give the name of their employer if the person specifically asks. They may only contact each person once, unless it is believed that the person gave the collector incorrect or incomplete information at the time, but now has complete or updated information. Collectors may contact a debtor at the workplace unless the collector has been informed the employer prohibits such calls, in which case the collector must cease all calls to the debtor’s workplace immediately.
At times a person with no connection to the debt or the debtor may be contacted by a collector by error. Examples include victims of identity theft and people erroneously targeted due to a similar name. Alternatively, the alleged debtor may dispute that the debt is payable. In such cases the alleged debtor can require that the collector or creditor prove that the debt is payable—in no jurisdiction does a debt exist merely because a collector says so. In the United States, anyone has the right for any reason to request written validation of the debt or to demand the collector cease communication.
Relatives of deceased people do not necessarily themselves have to pay the debts of the deceased, but debts must be paid by the deceased person’s estate.
If you are a custodial parent then you understand the importance of collecting child support. Child support ensures that your children receive the necessary financial support from both parents. This is set up by family law and public policy to give you an ongoing and periodic payment so that you could eliminate the need for cash assistance, helping to keep your family financially independent.
Unfortunately, in New York State, 7 in every 1,000 residents are divorced every year. This means that many parents will be in family court attempting to work out their child support obligations. This is most often not a pleasant or simple process. States set up child support standards in order to protect children from not being given what they need in life. However, some non-custodial parents avoid paying what they are court-ordered to provide in child support. It is at this point that some look to a third party agency for enforcement services, such as The Accounts Retrievable System, Inc..
How Do I get Started?
All we need is a copy of your court order or divorce decree that details the family support payments. We will process the information and work towards collecting your child support payments.
How Long Does It Take?
Every case is different. Once we receive the necessary documents we will begin our location and collections efforts. Your case will be given individual attention with care and determination in order to collect in the shortest time possible.
What Will It Cost Me?
Accounts Retrievable works on a contingency fee basis. This means that you do not pay unless we collect. Check out our fees page for more information.
What If My Ex Is Missing?
Unfortunately, we see this often where the non-custodial parent tries to stay off the grid in order to dodge their obligation. Accounts Retrievable has highly-skilled skip tracing services that can locate, in most cases, the missing parent and hold them accountable for their obligation.
Do I Need An Attorney?
You may need an attorney for the enforcement and collection process. Our attorney network will be available to you in case legal questions arise. Our legal team is there to provide legal support whenever necessary in order to satisfy legal requirements beyond typical collection efforts.
Am I Ensured Privacy?
Personal information about you and your children will not be released to anyone else without your authorization. Confidentiality is of the utmost importance.
To manage an establishment profitably, a part of your policy should include knowing when to outsource difficult accounts to a debt collection agency. Every owner has to stay on top of their receivables and check their cash flow. Whether you sell a product or provide a service, you probably experience late-paying or none-paying customers from time to time. That means that you have to have a good, uniform internal debt collection policy in place.
» One significant reason this is true is because your delinquent accounts continue to decrease in value, at a rate of 15% per month. And the longer an account goes delinquent, the more difficult and costly it is to collect. In addition to spending more time, capital, and resources going after these depreciating accounts, its also costing your company in lost opportunity dollars, by taking you away from your core revenue-generating functions. It is much more cost effective and efficient to outsource these problematic accounts to an unbiased third party debt collection agency.
Here are some questions you may want to consider when hiring a debt collector:
1) Are they licensed in all 50 states?
Many states require a license to collect a debt in their particular state so its important that the debt collectors are licensed in all 50 states. What if one of your customers moves out of state? Well the collection could become rather difficult and if the debt collector attempts to collect it in a state where you are not licensed the ramifications could be disastrous for you and the collection agency.
2) Do they have insurance?
Ties into number one because collection agencies obtain insurance to protect themselves in case a member violates state or federal laws. It minimizes your company’s risk in case the collection agency makes a mistake.
3) What will be expected of me as a client?
Knowing what the collection agency requires of you is a good thing to maintain an effective working relationship. They are basically an extension of your company and you will want them to act accordingly so the same goes for you. Typically, the collection agency will want you to send them “clean” accounts receivable data, meaning all the balances due and documentation must be correct. Otherwise, it’s just about impossible to collect.
4) What technologies do they use?
You would obviously want the collection agency that you hire to have the latest and up-to-date technology. If they are using the most up-to-date technologies that most likely means they are looking for a long term goal of staying in business. The latest technology also proves more effective debt collection.
5) What do you do differently than other agencies?
There are thousands of collection agencies out there. Some big and some small. Many are great at collection debts but the main thing is what they do differently. Do they send you regular reports that make your company’s AR Departments lives easier? Do they customize their services to better suit your type of business? Ask them how long it takes them on average to see a return on monies owed.
These are some of the more important things to be asking yourself when choosing a debt collection agency. Every company has different needs and more than likely you can find an agency that fits yours.
Collecting child support for custodial parents is one step in establishing payments. When the custodial parents establishes child support, the local court office will conclude the amount of monthly payments the non-custodial parent will be obligated to pay. When the non-custodial parent receives their orders to pay child support, they must live up to their obligations or suffer the penalties.
Here are some steps to collect child support:
»The First Step is if you were not married when your child was born, the first step is to establish paternity – legally determining the father of the child. Many men will voluntarily acknowledge paternity. Either parent can request a blood test in contested paternity cases. Your caseworker will help you establish paternity for your child.
»The next step is to establish the obligation. State guidelines determine the fair amount of child support that the noncustodial parent should pay. Your child support office will be able to tell you how support amounts are set in your state. Your child support office can also request medical support for your child.
»The last step is to enforce the child support order. Our child support division can help collect your money no matter where the noncustodial parent lives.
Although the most successful way to collect child support is by direct withholding from the obligated parent’s paycheck, Federal and State Income Tax refunds may be withheld to collect unpaid child support. States also have laws that allow them to use: liens on real and personal property; orders to withhold and deliver property; or seizure and sale of property with the proceeds applied to the support debt. Many states routinely report child support debts to credit bureaus, which would affect the noncustodial parent’s credit.
Accounts Retrievable has been serving the respected needs of clients in the collections industry for over 30 years. We pride ourselves in constantly striving to remain a leader in the industry. We collect claims from creditors from all over the United States against debtors throughout the country. We specialize in Judgment collection, Child Support and Spousal Maintenance along with other areas of debt recovery.
We accept accounts such as Judgments, Commercial and Consumer accounts, Unpaid Child Support, Spousal Maintenance, Landlord/tenant matters, personal loans, auto loans and student loans. The minimum debt we will collect on is $1,500.00. We collect on international accounts as well. Accounts Retrievable is your global resource for all international collections.
There are no uproot charges to pay when you work with us. All of our fees are contingent upon successful collect of your accounts. We do not require a contract when yo work with us. Placing an account with us is very simple. Whether you have one account or a large value it is simple. You can place a claim through our website, e-mail or by fax.
The placement process of claims is completely customizable, we work with you to find out what will be easiest for you. For clients that will require assistant in establishing an automated process, we can provide the technical expertise to help extract and transmit your data securely.
Determining when you should place your accounts for collections is different for everyone. There are no set rules or parameters on when you should place an account but a good guideline would be 90 to 150 days from the date of the invoice or last payment. The sooner you place an account with us the greater change of recovering the money owed to you.
Accounts Retrievable Systems – Debt Collection Services
In 1986, The Accounts Retrievable System, Inc. (ARS) established a national network of leading collection attorneys who excel in their field to handle all phases of the collection cycle.
FORWARDING SERVICE : We forward your account to attorneys in the debtor’s locale for either collection or suit. We forward accounts to attorneys who are bonded and are chosen from the membership in the Commercial Law League of America and NARCA, the most distinguished associations of attorneys engaged in collection law. Execution of our placement form constitutes authority to forward your claim to local counsel. No legal action will be initiated by any attorney without your authorization. If legal proceedings are recommended and approved, there are required costs, including advanced court costs and/or suit fees, to be paid.
Every claim entrusted to us, regardless of the amount placed, will receive the same high quality collection effort.
Upon receipt of the debtors’ file, the designated attorney researches it and provides to ARS an overview with a recommendation as to whether litigation is a viable option. Their recommendation is based upon several factors including the debt amount, location, operational status, the ability to serve the debtor and other relevant criteria.
In the case of Judgments, an initial demand letter is sent to the debtor requesting payment in full as to the Judgment principal, along with all post-judgment interest allowed by law.
We streamline access to critical information with-
User-friendly reports ― valuable updated information adapted to your needs. Immediate notification of resolutions. Personal service and ease of communication.
Our attorney network was created to negotiate payments, resolve disputes and settle cases quickly and professionally. Additionally, links to federal and state agencies and industry-only databases allow us to perform thorough searches AT NO COST TO YOU.
Although we work closely with these attorneys, the attorney represents you and remains under our direction at all times. Any legal proceeding or any settlement comes only with your approval.
Forwarding Claims- Claims forwarded to attorneys are monitored closely by ARS’s experienced forwarding department. ARS’s attorneys accept all claims from us only on a contingent basis. Creditors will receive copies of attorney correspondence.
Skip Tracing- Our tenured skip tracers specialize in locating missing debtors. To assist them, they have access to ARS’s several “for-our-eyes-only” databases loaded with information. Other resources utilized by our skip tracers include:
– Accurint®
– Acollaid™
– PACER
– Credit reporting bureaus
– Dun & Bradstreet
– Property records
– UCC-1 filings
– DMV records
– Tax records
– Civil & criminal filings
– Asset location
– Business entity search
– Deceased records
– Personal locator
– Global business finder
– Judgment & tax lien records
– SSN, DOD & DOB resources
– Bankruptcy records
– Near-bys & landlords
Accounts Retrievable Systems – Having Trouble With Debt Collection?
As a business owner you may already be familiar with hiring a collection agency, but if you are not, we can help you decide when the right time is. Creditors will often ask when they should place an account with a collection agency, and although there is not one definite answer but there are general rules of thumb to help you out. Generally we would say if an account is 90 days past due which would be 120 days past the invoice date, you should initiate a placement with a collection agency. This would be so if there is no response received from the customer.
If an invoice is 90 days past due, you probably have sent out several statements and collection letters and even made collection calls to your client. If you have tried bringing the delinquency of the account to your customer but they have showed a lack of response it either indicates a lack of concern or cash flow problem. In any case, one thing is certain, a collection problem exists. Your best chance at collecting and recovering on a past due account is to place your account with a collection agency.
The sooner you place your account with a collection agency, the better the chances that the account with be collected on. It may be time to hire a collection agency if the customer has broken two or more promises of payment. If you have been promised payment but have not received any checks it may be time to contact a collection agency. Also if you try contacting your client and their telephone has been disconnected, double check with an information operator and if not new listing can be found you should immediately place your account with a collection agency.
Accounts Retrievable – Hiring The Right Collection Agency For You
The Accounts Retrievable System, Inc is a national collection agency serving the collection needs of respected clients. Its client base includes wholesalers, retailers, credit unions, manufacturers, law firms, banks, universities, and mail order companies. The company receives claims from creditors all over the United States against debtors throughout the country. The skilled professionals at our collection agency are experienced in all aspects of debt recovery.
Since 1986, ARS collection agency has delivered professional, highly effective results for clients on a worldwide basis. ARS is recognized as a leader in Judgment Collections, Commercial Collections, Consumer Recovery, and is a specialist in collection of Child Support and Spousal Maintenance. Our partnership approach, rapid collection and ability to preserve relationships form the cornerstone of our commitment to excellence.
With three decades of experience both domestically and internationally, ARS serves a broad spectrum of industries.
ARS clients benefit from an array of collection solutions designed to increase cash flow, reduce expenses, improve operational efficiency and maintain positive customer relations. We are proud of our ability to deliver professional, effective and timely results worldwide.
ARS strives to remain a leader in the industry. ARS is comprised of a strong, cohesive and committed team. Our consistent track record for successful outcomes stems from a forward-thinking corporate mix where personal and professional aspirations thrive and progressive ideas flourish. Our team is kept current on all laws and statutes, FDCPA and FCRA compliance through ongoing education, and by attending seminars and meetings throughout our affiliations with the Commercial Law League of America (CLLA), the American Collectors Association (ACA), and DBA International (DBA).
Accounts Retrievable Systems – Hiring A Collection Agency
If you need the professional help of a collection agency, it is important to do research first. Not every collection agency is the same or will provide effective results. Accounts Retrievable System has delivered highly effective results since 1986 for clients worldwide. They recognized as a leader in Judgment Collections, Consumer Recovery, Commercial Collections and specializes in the collection of Child Support and Spousal Maintenance (Alimony). With their partnership approach, rapid collection and the ability to preserve relationships between clients and businesses forms the cornerstone of their commitment to excellence.
With over three decades of experience with both international and domestic accounts, Accounts Retrievable collection agency serves a broad spectrum of industries. Clients of ARS benefit from an array of collection solutions that are designed to increase cash flow, reduce expenses and improve operational efficiency and to maintain positive relationships with customers. It is important to find a collection agency that is proud of their ability to deliver professional, effective and timely results worldwide. It is important to find an agency that takes pride in what they do.
Not all collection agencies are alike, AS is comprised of a strong, cohesive and committed team that puts in every effort to collect on the money owed to you. They have a consistent track record for successful outcomes which stems from a forward-thinking corporate mix where professional and personal aspirations thrive and progressive ideas flourish. One of the most important factors in hiring a collection agency is making sure that they are kept current on all laws and statutes in regards to debt collection. There are specific laws and regulations that need to be followed when collecting debts and Accounts Retrievable System follows them all.
