Accounts Retrievable Systems – Benefits Of Hiring A Collection Agency
When making the decision to outsource debt collection to a collection agency there needs to be a great deal of consideration into this. Once the decision is made now a great deal of consideration needs to go into hiring the proper collection agency for you. In a perfect world you would provide your customer with a service and they would pay you in a timely fashion. We know that this isn’t always how the world works and this is why collection agencies exist.
If you own a company you know that there will be delinquent customer payments, as they are often unavoidable. If your company does not have an in house collections department otherwise known as a first party agency, you may have to hire an outside collection agency knows as a third party agency. Investment of time, money and manpower are often too consuming to handle debt collections alone. Unless you are a skilled professional in the debt collection field you may be wasting a lot of valuable time and effort that will only be wasted in the end with failed efforts.
Third party collection agencies specialize in pursuing past due accounts. It is best to leave debt collection up to professionals as they know the proper techniques to collect on late payments. If you hire a collection agency and their efforts to collect the money owed to you fail there is no time or money wasted by you. If the collection agency you hire collects on the past due accounts they will charge you a fee, but if they do not there will be no fee. Accounts Retrievable Systems is a national collection agency which serves the needs of wholesalers, retailers, credit unions manufacturers, law firms, banks, universities, and mail order companies.
Accounts Retrievable Systems – How A Collection Agency Can Help You
If you are a small business with a limited staff, hiring a professional collection agency can help save you time and money by collecting on past due accounts. When you try to collect on your own, if you are not successful that is time wasted, and we know that time is money. If you hire a collection agency and they are unsuccessful they do get any money, and so you have not wasted any time. Also hiring a professional collection agency helps because generally they get better results. This is because they have the time and experience collecting debts that you do not have.
So now that you have realized it is time to hire a collection agency, how do you find one that is right for you? The key is in finding a reputable collection agency to assist you. It is best to look into agencies that collect unpaid debts for small businesses and work within the industry you are trying to collect in. You should choose an agency that has experience in collecting debts for the type of business operation you run. If the people who owe you money are a commercial company it is best to choose an agency that goes after commercial debts.
To insure that the collection agency you are hiring is reputable you should check their references first. When contacting a reference, you can ask them how long they have been using that agency for their collections and if they have been successful and even methods they have used. Finding out how long a collecting agency has been in business is important because it shows their experience. A well-established collection agency is likely to have a good reputation.
Our collection agency is reputable and well experienced. We collect on accounts such as past due child support, judgments, alimony, past due medical bills and even past due rent. 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. Our skilled professionals are experienced in all aspects of debt recovery.
Accounts Retrievable Systems – Hiring A Collection Agency
When you are owed debt and have tried time and time again, you might be thinking, is NOW the time to contact a collection agency? If you are unsure when is the “right” time to hire a collection agency, we’ve written this article to help you better understand when and why to hire a collection agency. Accounts Retrievable Systems has it’s own FAQ page for any questions that you might have in regards to debt collection.
Generally when you have an accounts that is 90 days past due or 120 days after the invoice date, you should make a placement with a collection agency. If you have tried contacting the customer and you can not reach them when there accounts it that over due, hiring a collection agency can help get the money that is owed to you. The longer you wait to place collections, the chances of us collecting on your account(s) gets smaller. We have had much success with collecting on accounts that seemed to “uncollectable”.
We know that if your accounts is 90 days overdue you have made attempts yourself at collecting on the account that is overdue. This can be very stressful when trying to focus on new business and paying customers, you have to take time out to try and collect on an account only to be unsuccessful. All of our staff and attorneys specialize in debt collection and can relieve this stress that you have been experiencing.
We collect on international accounts, judgments, past due child support and provide many other services. To find out more about the services we offer, check out our Services page. As with all collection agencies there is a fee if, and only if we collect on your account. We work on a contingency fee basis, meaning we only collect money from you if we collect on your account. If you’ve never worked with a collection agency before, we can help you better understand what we are all about. Give us a call today if you are having problems with debt collection of any type of account.
Accounts Retrievable Systems – Why Use A Collection Agency
When you have a client who owes you money, chances are you are very stressed out. Placing an account for collection with Accounts Retrievable is stress free. Our collection agency has a very simple method for placing collections. Whether the account you are placing is one, or a large volume or accounts, the process is simple. We have an online application where you can place your collection easily. You can also place an account with our collection agency through e-mail or fax.
Our collection agency works as most agencies do, all fees are contingent, which means we only get paid if you do. There are no upfront charges that you have to pay, as our fees are based on the successful collection of your accounts. If we do not collect on your accounts, there is no fee. We collect on international accounts. Accounts Retrievable System is your global resource for all international debt collections. Many people will ask us if there is a minimum debt that we collect on. That is one of the questions we are most commonly asked. The minimum accounts that we will collect on is $1,500.
Accounts Retrievable System is a collection agency that collects on all types of accounts. We accept accounts such as judgments, commercial accounts, unpaid child support, consumer accounts, landlord/tenant matters, spousal maintenance, auto loans, student loans and personal loans. We begin to collect on these accounts as soon as 48 hours after our attorneys receive the claim.
Our success rate on collecting accounts depends on the age of the debt at the time of placement and varies depending on the industry on which debt is owed. Of course there is not guarantee that we can collect on your accounts, but we do guarantee that each and every account placed with us is worked thoroughly.
Accounts Retrievable Systems – Hiring A Collection Agency
A collection agency is a business that serves to pursue payments of debts that are owed either by individuals or businesses. Collection agencies are basically agents of creditors and will collect your debts for a fee or percentage of the total amount collected. Most collection agencies are third party agencies, they are called this because they are not a party to the original contract. When working with a collection agency understand that they work on a contingency-fee basis, which means there will usually be no initial cost to you. When you hire a collection agency it is important to know that they only make money if they collect the money that is owed to you, this is a “No collection – No Fee” basis.
The fee that will be charged after an accept has been collected can vary. Depending on how old an account is and how many collection attempts have already been made, the fee can range from 10% – 50% but typically fees range from 25% – 40%. Hiring a collection agency that is highly motivated to collect on your debts is important but so is hiring an agency that follows The Fair Debt Collection Practices act. There are state laws that protect consumers and it is vital that your collection agency follows these laws.
In the United States many states and a few cities require that collection agencies be licensed and/or bonded. Accounts Retrievable is a licensed and bonded collection agency! We are committed to collecting on your past due accounts while keeping the integrity of our agency. We follow all laws while collecting on accounts. This is part of what sets our agency apart from the rest. We also have an online form where you can easily make a claim in the convenience of your own home.
Accounts Retrievable Systems - The Right Collection Agency
When choosing a collection agency there are many things to consider. Our collection agency has three decade of experience both internationally and domestically, we serve a broad spectrum of industries. Accounts Retrievable System strives to continue to be a leader in the collection industry. We are comprised of a cohesive, committed, strain team of staff members. We have a consistent track record for successful collection outcomes.
Why choose our collection agency? We have experience and integrity that spans over three decades. Most claims that are filed and collected by us are done without forwarding additional legal costs. Our collection agency is bonded and insured by the ACA. We are always focused on our commitment to building quality relationships with creditors of all sizes and of all industries which results in higher client satisfaction.
We hold integrity at ARS and are up to date with all collection laws and follow them all. Funds are remitted weekly to clients while all ethical procedures are followed. We have a worldwide network of collection attorneys that quickly address client’s needs and skillfully maximize recovery. We also have an application online that is state of the art and allows paperless claims placement and easy email communication with our staff. As much as 90% of our staff has been employed for at least 4 years our of the 24 years that we have been in business.
When filing a claim with us, the debtor is usually contacted within 48 hours of our attorneys receiving your claim. Our clients have been satisfied time and time again. We have competitive rates which are based solely on results, if we do not make a collection on your claim, there is no fee to you. If you choose our collection agency we can not guarantee your claim will result in collection 100% of the time but we can guarantee that we will put 100% into trying to collect your claim.
Accounts Retrievable Systems - Information About Judgment Collection
Trying to collect a judgment on your own can be very stressful, especially if you are not familiar with debt collection practices. Hiring a collection agency to help collect your judgment is a smart move. We can help you with any questions you may have in regards to debt collection. One question we hear quite often is “At what point does a Judgment become “uncollectable”? The answer to this is almost never. Rarely does a judgment become uncollectable. Most judgments are valid for 5 – 20 years. Sometimes when we cannot collect on a judgment after exhausting all of our efforts we may review the file again in a year or too and see if the debtor’s financial status has improved in any way.
We have been successful in collecting judgments that are 2, 4 and ever 7 years old or longer. If you have a judgment that is three years old, send it to our office immediately. We have had much success in collecting judgments that are years old. Now collecting a judgment when the debtor has filed bankruptcy can be difficult. In many cases the judgment will become uncollectable but you can send it to our office anyway with the necessary paperwork so that we can check it out. We work online in real time with the United States Bankruptcy Courts and through this we can very easily obtain the status of any bankruptcy filing.
Hiring a collection agency is very beneficial to both individuals and businesses. We know that you are busy in your lives working on the future and that becomes difficult when trying to collect from the past. We can help you with this, our employees are experts on debt collection and have proved time and time again our success with collections. If you have any claim that you are unsure of, whether it be if it is collectable or not, send it to us right away and we will get started on that for you.
Accounts Retrievable Systems - Hiring A Collection Agency
Collecting on past due accounts can be stressful. Hiring a collection agency is not. Accounts Retrievable Systems works thoroughly to collect on your past due accounts while you focus on new business and keep your attention on clients who are paying on time. Our collection agency has a national network of over 420 collection attorneys. Our success rate depends largely on the age of the debt, the time of placement and will always vary depending on the industry. There is no guarantee that we can always collect on past due accounts but we can guarantee that each and every claim placed with us will be worked throughly as we put our best efforts in collecting your money.
There is a statute of limitation on outstanding debts. This statue varies from state to state, but generally falls between three to seven years. Judgments however are good for 5 to 20 years, depending on the state. Also in some states there may be an option to renew the judgment for five or ten more years. Our collection agency is full of experts on debt collection. Unless you are an expert yourself you may have a hard time collecting on past due accounts and judgments. This is what we do, and we do it well.
To start the collection process there is some forms of documentation you will ned to send up. You will have to send our completed placement form along with a comprehensive statement of accounts and if possible, invoice copies are usually sufficient to start the debt collection process. If there are any “bad” check that are part of the debt from your client, those are required as well. Using the services of a debt collection agency will often get the attention of the debtor and they are more likely to pay up.
Accounts Retrievable Systems - Collection Agency Will Collect
Using a collection agency you can get the money that is owed to you while you remain stress free. While our employees are working to collect on your account, you can focus on your business both new and old. We are experts at debt collection just like you are an expert at what you do. There is some information we need to collect on your accounts, this includes: name, address, contact name, fax number, telephone number, and a state which shows the outstanding ballad and the invoice information. For judgment collections we need a copy of the Judgment or transcript. Any additional backup documents such as invoice copies, contract, etc. can be provided at the time of placement but also may be submitted at a later date.
We’ve been asked before “Do you have a minimum number of months the account is worked by your attorneys before you close it?”. The answer to this is no. We will generally work a file for at least 90 days, at which time we should be able to determine the accounts collectability. Should circumstances dictate, we could close the file earlier (bankrupt, out of business, skip, paid, or settled) or hold them (solid contact, negotiating payment, payment plans, litigation, Judgment execution, etc.) longer.
We begin attempting the debt collection as soon as 48 hours of receiving the claim. We have a department dedicated to skip tracing and keep you updated on your accounts. We forward you a performance report during the first week of every month, and this will inlaced a line item detail showing the current status of each account we are trying to collect on. If you are stressing out about money owed to you, don’t. Let our collection agency help collect the money that is owed to you.
Accounts Retrievable Systems - Use A Collection Agency
Accounts Retrievable Systems is a national collection agency that employs only experts in debt collection. We collect account types such as Judgments, commercial accounts, consumer accounts, unpaid child support, spousal maintenance, landlord/tenant matters, personal loans, auto loans, and also student loans. The minimum debt that we collect for claims is $1,500. Accounts Retrievable is an international collection agency which means, yes, we do collect international accounts. We are your global resource for all international debt collections.
We work on a contingency fee basis, which is standard in the collection industry. That means that if we collect, we earn a fee from the money collected. If we do not collect, there is no charge to you for our efforts. There are no upfront charges that you have to pay, we only charge you if we collect. Our collection agency is easy to work with, especially placing your accounts for collection. Whether it is one account or a large volume, placing with ARS is very simple. You can place through our website, e-mail, or by fax. The placement process is completely customizable – whatever is easiest for you. For those clients that may require assistance in establishing an automated process, we can provide the technical expertise to help extract and transmit your data securely.
Trying to determine when an account should be sent for collection can be figured out in a few ways. Typically there are no set parameters but generally you would after 90 to 150 days from the date of invoice or the last payment made by your customer. Circumstances such as loss of contact, broken promises, mail returns or lack of response would be signs that the account should be forwarded sooner. The sooner you contact a collection agency to help collect the money owed to you, the better change for recovery.
