Accounts Retrievable Systems – Collecting On A Judgement
What do I do if I have a Judgment in New York and the debtor moves to another state?
Send the Judgment to us so we can assess whether the Judgment should be brought (transcribed) to the new state of the debtor. In many cases it does pay to follow the debtor to the new state.
I have a Judgment that is three years old. Can I send it to your office to collect or is it too old?
Send it immediately. We are very successful with Judgments that are 2, 4, or 7 years old or longer.
Is my Judgment uncollectable if the debtor filed Bankruptcy?
In many cases, the answer is yes. But send us your Judgment and paperwork to us so we can check it out. We are online in real time with the US Bankruptcy Courts and can easily obtain the status of any bankruptcy filing.
At what point does a Judgment become “uncollectable”?
Rarely. Most Judgments are valid from 5 to 20 years. Even if we cannot collect on the Judgment after we have exhausted our current collection efforts, we may review the file a year or two later, to see if the debtor’s financial position has improved.
My separation Agreement called for spousal support payments, and my spouse stopped paying me. Can you collect the arrears that are due to me?
Yes, we specialize in spousal support and alimony collections.
Is there any additional cost to me if an account has to go to litigation?
Yes. Our attorney will never litigate an account without your consent. Once you authorize us to begin litigation, our attorney will commence the action against the delinquent debtor. Court disbursements are the fees charged by the process-server to serve the summons and complaint. A fee is also charged by the court to purchase a Court index number. Currently, the disbursement fees generally run between $250.00 and $600.00.
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.
Accounts Retrievable Systems – Considering A Collection Agency
Hiring a collection agency greatly increases your chances of collecting. Hiring an agency of professionals backed by knowledge, resources, and experience, will save you tremendous amounts of time and energy. What can a business owner do, besides get on the phone over and over and still not get paid? Hire collection agencies. You will have the time to be much more productive while the collection agency is tracking down your overdue invoices. Yourself and your employees will have more time to focus at important tasks on hand adding to your bottom line.
When a collection agency contacts your delinquent clients, they are ready to get results. They are armed with the expertise, time and resources needed to be able to carry out the job.
The Accounts Retrievable System greatly enhances your chance of retrieving a profitable collection all while being based on a contingency fee arrangement! If attempts to collect are not successful, you will not be charged!
Accounts Retrievable Systems – Debt Collection Services
If you are a business owner and find yourself having a problem collection money owed to you, you might want to consider hiring a collection agency. A collection agency is a business that pursues payments of debts that are owed by either individuals or businesses. There is no upfront fee to hire a collection agency and if they do not collect the money owed to you, there is no fee. Collection agencies work on a contingency fee basis which means if they do not collect you are not charged. The collection agency makes money only if money is collected from the debtor (often known as a “No Collection – No Fee” basis).
When you hire a collection agency you should be sure that you do proper research before you make the final decision on hiring one. Not all of them are the same and not all are as experienced as the next one. When hiring you should make sure that they hold their integrity and do not use an illicit or illegal practices to collect on your accounts. You want to keep a professional and long-lasting relationship with your clients even if they owe you money. There is a set of laws that are in place in the United States as to what a collection agency can and can not do to collect on debts.
The Federal Trade Commission is the primary federal regulator of collection agencies, although the Bureau of Consumer Financial Protection—created in 2010 and housed within the Federal Reserve—will also have regulatory power over collection agencies. The CFPB announced on October 24, 2012 that it has finalized its rule for supervising debt collection agencies and debt buyers under a definition that will include approximately 175 U.S. companies.
Many States and a few cities require collection agencies be licensed and/or bonded. In addition, many States have laws regulating debt collection, to which agencies must adhere.
The Fair Debt Collection Practices Act is the primary federal law governing debt collection practices. The FDCPA allows aggrieved consumers to file private lawsuits against a collection agency that violates the Act. Alternatively, the Federal Trade Commission or the state attorney general may take action against a noncompliant collection agency, including issuing fines, ordering damages, restricting its operations or even closing it down (see, e.g. CAMCO).
The FDCPA specifies that if a state law is more restrictive than the federal law, the state law will supersede the federal portion of the act. Thus, the more restrictive state laws will apply to any agency that is located in that state or makes calls to debtors inside such a state.
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Accounts Retrievable Systems – Info About Judgment Collection
If the time to appeal in the court of origin has lapsed, and the judgment has become final, the holder of a foreign judgment, decree or order may file suit before a competent court in the U.S. which will determine whether to give effect to the foreign judgment. A local version of the Uniform Foreign Money Judgments Recognition Act applies in most states, for example in California. 13 U.L.A. 149 (1986).
A judgment rendered in a “sister” state or a territory of the U.S. is also referred to as a “foreign judgment.” 47 states, the District of Columbia, Northern Mariana Islands and the Virgin Islands have adopted the Uniform Enforcement of Foreign Judgments Act, 13 U.L.A. 261 (1986), which requires the states and the territories to give effect to the judgments of other states and territories, if an exemplified copy of the foreign judgment is registered with the clerk of a court of competent jurisdiction along with an affidavit stating certain things. The only U.S. states which have not adopted the Uniform Enforcement of Foreign Judgments Act are California, Massachusetts and Vermont. Legislation was introduced in Massachusetts in 2012 (Bill H.4268) to adopt the Uniform Enforcement of Foreign Judgments Act.
New York State and Connecticut are two of a small minority of U.S. jurisdictions that does not simply allow a judgment creditor to file a foreign judgment from a sister state if the judgment was obtained by default (meaning the other side never showed up for to contest its entry in the other state by, for example, defending himself at trial) or the judgment was obtained by confession (meaning the other side signed paperwork allowing a judgment to be entered against him). Instead, a party wishing to domesticate the foreign default judgment or foreign judgment obtained by confession must bring another action in New York State “on the judgment” where the relief sought is to have the foreign judgment domesticated in New York State. Moreover, a quicker “motion-action” procedure is available in New York where the owner of the foreign default judgment/judgment by confession files a summons and notice of motion for summary judgment in lieu of complaint.
When seeking to enforce a judgment in or from a state that has not adopted the Uniform Act, the holder of the judgment files a suit known as a “domestication” action. Since the full faith and credit clause of the U.S. constitution requires that states honor the judgments of other states, the domestication of a judgment from another state is generally a formality, even in the absence of the expedited procedure under the UEFJA.
To solve the problem of libel tourism, the SPEECH Act makes foreign libel judgments unenforceable in U.S. courts, unless those judgments are compliant with the U.S. First Amendment. The act was passed by the 111th United States Congress and signed into law by President Barack Obama.
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