Day: August 20, 2023

Call in a Collection Agency For ClaimsCall in a Collection Agency For Claims

Most businesses will have to turn over past-due accounts to outside collection agencies at some point. Creditors generally send accounts to collections when they are 90 to 120 days delinquent, with the longer the account lingers, the less likely it is that the debt will be recovered. A business can try to collect a debt on its own, including by calling or sending letters, but when that is unsuccessful, it’s time to bring in the professionals.

Can I sell a debt to a collection agency?

There are many collection agencies out there, and choosing the right one will depend on your needs and industries. For example, if you are a B2B business, you might need an agency that has experience collecting from businesses, while a business that serves the medical industry may require an agency that understands HIPPA compliance and regulations. Check this out :

If you are contacted by a collector, ask for proof that the debt is yours and the amount that is claimed you owe. Also ask for a description of how the debt is to be paid (cash, check or money order) and the name and address of the original creditor.

A reputable collector will not harass you by phone or in person and will respect your rights. For instance, a debt collector cannot contact your employer or family members, nor can they call you at work or early in the morning and late in the evening. If you are uncomfortable with the way a debt collector is treating you, report it to the Federal Trade Commission.