Creditors often wonder when they should place an account with a collection agency. Accounts should be placed with a collection agency if an account is 90 days delinquent and you have received no response from the customer.
Accounts Retrievable Systems – Should You Hire A Collection Agency?
We serve a broad spectrum of clients such as credit unions, retailers, law firms, wholesalers, banks, universities and even mail order companies. ARS Collection Agency will receive claims from all over the United States against debtors all throughout the country. Their company is staffed with only skilled professionals with experience in all aspects of debt collection.
It is important to keep up with any overdue accounts because over time, your chances of collecting the money owed decreases drastically.
We collect on a variety of different accounts. We accept judgments, commercial accounts, unpaid child support, spousal maintenance, consumer accounts, auto loans, personal loans, student loads and landlord/tenant matters. The minimum debt we will collect on is $1,500. There are no upfront charges or fees, our fees are contingent upon successful collection of your accounts.
Accounts Retrievable Systems – Collecting Your Judgements
Since 1986, ARS 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.
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.
Accounts Retrievable Systems – Having Trouble With Debt Collection?
Our focus is on the specific needs of each client’s portfolio, whether it is for one claim or for thousands and is built on systems and personnel already developed, tested, and proven on a day to day basis. ARS will never close an account until every collection option has been exhausted.
Our services are based on a contingency fee arrangement; therefore if our attempts to collect are not successful, you will not be charged! We’ve provided below a summary of the collection fees that we do charge if we are successful upon collecting your account.
CHILD SUPPORT / SPOUSAL MAINTENANCE COLLECTION DIVISION
RATES: Contingent Upon Collection
33% of collections, net, after execution costs. Such costs include, and may not be limited to, Sheriff Fees, Marshal Fees, Attorney Fees, and Court Costs.
JUDGMENT COLLECTION DIVISION
RATES: Contingent Upon Collection
33% of collections, net, after execution costs. Such costs include, and may not be limited to, Sheriff Fees, Marshal Fees, Attorney Fees, and Court Costs. You should note that if the Judgment Debtor moves to another state, and you desire to domesticate your Judgment in the “new” state, you must advance the local Court Costs to domesticate your Judgment.
INTERNATIONAL CLAIMS
39% of collections
Foreign attorneys may require retainers or handling fees as is customary in their country and such rates will be quoted in our lawsuit requirement letter prior to authorization. ARS is fully compliant and adheres to all Federal and State Collection practices regulations. We follow high standards for compliance, confidentiality, and privacy requirements. Our company’s commitment is to constantly reinvest in our employees, new technology, recovery resources, professional staff, legal solutions, and innovative systems and procedures. ARS strives to remain a leader in the industry.
Accounts Retrievable – Hiring The Right Collection Agency For You
The Accounts Retrievable System is a well established national collection agency that serves the collection needs of respected clients. The client base of ARS includes wholesalers, retailers, credit unions, manufacturers, banks, law firms, universities and mail order companies. We receive claims from creditors all over the United States against debtors all throughout the country. Our skilled professional expert debt collectors are experienced in all aspects of debt recovery.
Every collection agency will charge you a fee for recovering money owed to you. Our goal is to provide fast and efficient debt collection services at competitive rates. We work on a contingency fee basis, which is standard for collection agencies. What this means is that if we collect the money owed to you, we will earn a fee from the money we collect. If we do not collect, there is no charge to you for the efforts that we put in to attempt to collect your money. This is why we highly suggest to place any account with us no matter the age of it. It is also highly recommended that you place an account with us as soon as possible but even if it has aged a bit you can still place it with us and we will put in every effort possible to collect.
Here are a basic list of the fees we charge for collection on different accounts:
COMMERCIAL COLLECTION DIVISION
RATES: Contingent Upon Collection
Before Litigation:
29% of collections
After Litigation:
When suit is recommended, client’s authorization will be required. Should suit be authorized, creditor will be responsible for advanced court costs. Court Costs vary from state to state and these rates will be quoted in our lawsuit requirement letter prior to authorization.
39% of collections
Large claims (over $500,000) – rates negotiable on an individual basis
CONSUMER (RETAIL) COLLECTION DIVISION
RATES: Contingent Upon Collection
Before Litigation:
34% of collections
After Litigation:
When suit is recommended, client’s authorization will be required. Should suit be authorized, creditor will be responsible for advanced court costs. Court Costs vary from state to state and these rates will be quoted in our lawsuit requirement letter prior to authorization.
44% of collections
JUDGMENT COLLECTION DIVISION
RATES: Contingent Upon Collection
33% of collections, net, after execution costs. Such costs include, and may not be limited to, Sheriff Fees, Marshal Fees, Attorney Fees, and Court Costs. You should note that if the Judgment Debtor moves to another state, and you desire to domesticate your Judgment in the “new” state, you must advance the local Court Costs to domesticate your Judgment.
CHILD SUPPORT / SPOUSAL MAINTENANCE COLLECTION DIVISION
RATES: Contingent Upon Collection
33% of collections, net, after execution costs. Such costs include, and may not be limited to, Sheriff Fees, Marshal Fees, Attorney Fees, and Court Costs.
Accounts Retrievable Systems – Pay Your Debt Collection
Accounts Retrievable is a national collection agency that has been serving the respected needs of clients for over 30 years. We are a collection agency with integrity and follow all laws, rules and regulations in regards to debt collection. When hiring a collection agency to recover money owed to you, be sure to ask as many questions as you feel necessary to feel comfortable. We have provided questions and answers that we are most commonly asked.
If your collection agency doesn’t collect anything am I still charged a fee?
No collection, No Fee! Our fees are contingent upon successful collection of your accounts. All fees are contingent, which means we only get paid if you do. There is no minimum or maximum placement volume required.
How should I determine when an account should be sent for collection?
There are no set parameters, but a good guideline would be 90 to 150 days from date of invoice or last payment. 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 the open items are sent to collection, the better chance for recovery. This chart shows that the longer you wait to collect your receivables, the less likely it will be that you collect those receivables.
What information do you need to collect my account?
To start the collection process we need the name, address, contact name, telephone number, fax number, and a statement showing the outstanding balance and the invoice(s) information. For Judgment Collections, a copy of the Judgment or Transcript is required. Additional backup documentation (invoice copies, contracts, etc.) can be provided at time of placement or at a later date.
Do you have a minimum number of months the account is worked by your attorneys before you close it?
No. Generally we will work a file for at least 90 days, at which time we should have a determination as to its 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.
Accounts Retrievable Systems – Debt Collection Services
When you own a business and you are owed money you may want to consider hiring a collection agency. Before you hire any collection agency it is best to do research. There are questions that you will want to ask before hiring a collection agency. We’ve provided below a few standard questions that you would ask and answers from our collection agency.
Do you have a minimum debt you will collect on?
The minimum amount for Claims we accept is $1,500.00.
What type of accounts do you collect?
ARS accepts Judgments, commercial accounts, consumer accounts, unpaid child support, spousal maintenance, landlord/tenant matters, auto loans, personal loans, and student loans.
Do you collect international accounts?
Yes. ARS is your global resource for all international collections.
What is your fee structure?
All fees are contingent, which means we only get paid if you do. There is no minimum or maximum placement volume required.
Are there any upfront charges to pay?
No. Our fees are contingent upon successful collection of your accounts.
Do you require a contract?
No.
How do I place my 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.
ACA was created in 1939 to bring together third-party collection professionals to advance the credit and collection industry.
Today, ACA ties together the entire credit and collection cycle, which is critical to the world’s economy. ACA’s membership includes collection professionals, asset buyers, attorneys, creditors and vendors in more than 55 countries. ACA members return billions of dollars to the economy each year, ensuring that the use of credit remains available to consumers.
ACA members work to achieve common goals and encourage the continued growth and professionalism of their businesses. The Association is the voice of the credit and collection industry and serves as a resource for its members, the media, policy makers and consumers.
The Commercial Law League of America (“CLLA”) is a respected organization of attorneys and other experts in credit and finance actively engaged in the field of commercial law, bankruptcy and insolvency. Since 1895, The CLLA has been associated with the representation of creditor interests, while at the same time seeking fair, equitable and efficient administration of bankruptcy cases for all parties in interest.
BBB ensures that high standards for trust are set and maintained. The BBB exists so consumers and businesses alike have an unbiased source to guide them on matters of trust. They provide educational information and expert advice that is free of charge and easily accessible. All BBB accredited businesses have agreed to live up to the Principles for Trust. The Principles for Trust are a comprehensive set of policies, procedures and best practices focused on how businesses should treat the public – fairly and honestly in all circumstances.
The NYSCA is an association of over 135 New York State collections agencies, whose purpose is to further and promote the general welfare of the credit and collection industry and to provide its members with tools that help in running a better collections business. All NYSCA members have open access to a variety of free resources and are regulated by the Federal Fair Debt Collection Practice Act.
By providing products, services and education to its members, DBA International enhances the economic performance and liquidity of the international financial services industry and fosters the ability of consumers to participate in the marketplace for goods and services.
Accounts Retrievable Systems – Enforcement Of Child Support
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.
A Judgment entered in your favor entitles you to certain remedies under the law, enabling us to collect the balance due. These remedies may include:
– Garnishment of debtor’s bank and brokerage accounts.
– Garnishment of wages.
– Levy and execution of personal property including automobiles, boats, equipment, etc.
– Levy and execution on real estate and business assets, in exceptional cases.
ARS utilizes a wide range of technological tools and resources to help each client achieve the best possible results. Our staff has access to the latest software programs with enhanced security and a state-of-the-art secured network with a full disaster recovery program.
Our focus is on the specific needs of each client’s portfolio, whether it is for one claim or for thousands and is built on systems and personnel already developed, tested, and proven on a day to day basis. ARS will never close an account until every collection option has been exhausted.
Our services are based on a contingency fee arrangement; therefore if our attempts to collect are not successful, you will not be charged!
Our goal is to provide fast and efficient collection services at competitive rates. 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. Whether your account is old or new, submit your claim with us and we will exhaust every effort at recovering the money that is owed to you.
Accounts Retrievable Systems – Collecting Old Debts
Any member of our staff will be pleased to answer any questions you may have about collecting Judgments. We specialize in collecting judgments but also collect on other accounts as well. We accept claims for commercial accounts along with consumer accounts. We also specialize in collecting unpaid child support and spousal maintenance. When you place an account with us you can be sure that most debtors will be contacted within 48 hours of us receiving the claim. We do not have a set number of months that we work on accounts before we close it but we follow a general rule of thumb where we work a file for at least 90 days. Once we have worked on a file for at least 90 days we should have a general idea as to the accounts collectability.
You may fax or mail your Judgment to our office. We will follow up with an acknowledgment of receipt and provide you with a “Placement Form” to sign. This form reflects the fact that the Judgment is unpaid and you desire for us to collect for you. The statutes vary from state to state, but typically it is anywhere from three (3) to seven (7) years. Judgments are good for from 5 to 20 years, and in some states there may even be an option to renew for five or ten more years. Whether your judgment is 5 days old or 5 years old you should place the judgment account with us. We will exhaust every effort to collect on your accounts. We’ve collected on “dead accounts” and accounts that other collection agencies deemed “uncollectable”. It is always worth a shot to place an account with us. If we are not successful on collecting on your account, there will be not fee charged to you.
Accounts Retrievable Systems – What A Collection Agency Does
Accounts Retrievable is a national collection agency that serves the collection needs of many respected clients in a variety of different industries. The client base of Accounts Retrievable includes wholesalers, retailers, credit unions, law firms, manufacturers, mail order companies and banks. We work with companies all over the United States and accept claims from creditors throughout the country and even handle international accounts. The skilled professionals at our collection agency are experienced in all aspects of debt recovery.
Our goal at Accounts Retrievable is to provide fast and efficient collection services at competitive rates. As with most collection agencies we work on a contingency fee basis which is standard in the collection industry. What this means is if we collect on your account, we earn a fee from the money that is collected. If we do not collect, there will be no charge to you for our efforts. This is why we encourage you to place all past due accounts with us, no matter the age or amount. We can not guarantee that we will collect on every account but we do provide a guarantee that we will exhaust every effort to try and collect.
We collect on all different types of accounts, including judgments, past due child support and alimony and student loans, and other loans. A judgment that is entered in your favor entitles you to certain remedies under the law which enables us to collect the balance due. Remedies that we may use are garnishment of wages, the debtor’s bank and brokerage accounts. We also use remedies such as levy and execution of personal property including automobiles, boats, equipment, etc. In exceptional cases we levy real estate and business assets. If you are having trouble collecting money that is owed to you, let us help you.
