Debt Recovery

The hospitality industry (which includes Hotels, Airlines, Rental Cars, Restaurants, Catering Services, Staffing companies, and Travel Portals), frequently faces the problem of mounting accounts receivable. This could be due to booking disputes, unpaid commission invoices, invoice corrections, check declines, credit card reversals or denials, property damages, cancellations, billing disputes, and denial to pay for the facilities used.

Collections in the hospitality industry can be both Consumer (B2C) and Commercial (B2B). Selecting a good collection agency with adequate experience in recovering money from past-due accounts in the travel industry is crucial. Their demand letters and collection calls are designed to achieve maximum recovery diplomatically yet follow a firm approach.

Serving Travel and Hospitality Industry Nationwide Need a  Collection Agency? Contact Us

Experienced collection agents are very well aware of the importance of maintaining a good creditor-debtor relationship. They spell out the importance and incentives for paying and the consequences of not paying. The unpaid amount can be reported to his credit report for individual collections. For commercial collections, it could mean filing a lawsuit.

Relying on your untrained in-house staff for collections can not only be inefficient, stressful and expensive, it will also result in lower recovery rates. Most importantly, in-house employees are generally unaware of the ever-changing federal and state debt collection laws, which itself can result in counter-lawsuits. They are also not fully prepared to handle all the excuses and problems involved in debt collections.

Collection agencies are experts in recovering money from all kinds of debt. Not just the hospitality industry, they have experience collecting money from virtually every industry. They know how to tackle all those debtor excuses. If it is impossible to recover the debt in one go, they will put the debtor on a payment plan. Due to the nature of the hospitality industry client base, your collection agency should have the resources and license to accept debts nationwide.

Hotels also host various corporate events, including seminars, conferences, trade shows, executive retreats, board meetings, product launches, etc. Although they are a great way to make quick money for the hotels, however if these corporate bills are not fully paid, these accounts receivable can easily run into thousands of dollars.

There is no point in writing off the debt that is hard to recover by your back-end staff when a collection agency can likely recover at least a part of that money.

Companies often host business seminars and rent halls

To get the maximum out of a collection agency, follow these two thumb rules:

1. Transfer your accounts to a collection agency after no more than 90 days of non-payment. If someone has not paid in 90 days, the likelihood of them paying you directly decreases significantly.

2. Whenever requested by a collection agency, provide a copy of invoices or the relevant paperwork that proves your financial claim promptly.

Debtors take collection agencies very seriously and are far more likely to pay, versus when your in-house staff raises demands.

Collection Demands Service

Upfront cost for 5 Collection Demands is about $15 per account. Debtors pay directly to you, no other fees and a low-cost option. Good for accounts less than 120 days past due.

Collection Calls Service

Contingency fee only. No upfront or other fees. Agency gets paid a portion of money they recover.  No recovery-No fees. Best for accounts over 120 days. A debt collector calls debtor many times. If everything fails, a possible Legal Suit if recommended by the attorney.

Here are a few tips on increasing cash flow and profit for businesses, including hotels, travel companies and the aviation industry.

Legal entities like law firms, independent attorneys, and even the district courts regularly need the help of a debt collection agency to recover money from unpaid accounts. People often use the legal services of a lawyer but fall behind in making promised installments. Similarly, district courts often issue summons and notices to make a payment, just to find that these individuals simply do not respond or have moved away from their residence on file.

Recovering Unpaid Bills for Law Firms Nationwide Need a collection agency: Contact Us

The main reason the legal collections activity needs to be outsourced is that engaging in-house staff for debt recovery is very expensive. Own employees do not have tools and subscriptions to some critical services required to locate the debtor (skip tracing), and send written demands with increasing intensity. They find it difficult to regularly follow up with clients for payments if the debtor has agreed to pay money in installments. They are also not fully trained on the most up-to-date federal and state debt collection laws when trying to recover unpaid bills from defaulters.

Collection agencies are experts in collecting debt; that is what they do every single business day. Debtors are more inclined to pay off when a collection agency is involved versus when the notices are issued under the legal entity’s name.

Check this: Cost of hiring a collection agency

The main reason collection agencies can send Collection Demands at such a reasonable cost is because they have automated systems and process accounts in bulk.  Sending five letters, which includes Scrubs like “Change of Address”, “Bankruptcy Check” and “Litigious Person check” at no additional cost improves the chances of collections and also reduces the possibility of being hit by a counter-lawsuit.

Once a debtor does not respond to collection letters, the next steps are Collection Calls or Filing a Lawsuit. These are contingency-based services and involve utilizing advanced Skip Tracing services. Non-payment can also lead to reporting the case to a credit reporting agency or follow-up with cosigners.

Collection Letters Service

The upfront cost for 5 Collection Letters is about $15 per account. Debtors pay directly to you, no other fees. Low cost option. Good for accounts less than 120 days past due.

Collection Calls Service

Contingency fee only. No upfront or other fees. Agency gets paid a portion of money they recover.  No recovery-No fees. Best for accounts over 120 days. A debt collector calls debtor many times. If everything fails, a possible Legal Suit if recommended by the attorney.

If you need a collections agency to recover money from past-due legal accounts: Contact us

 

Mortgages are the biggest loans in the United States, running into hundreds of thousands of dollars against each property. Many mortgage borrowers go above and beyond what they can afford to become proud home-owner of that expensive dream house. If a recession strikes, such borrowers are the first ones to default on their obligations.

Before their financial situation deteriorates further, hiring professional debt collectors to cut potential losses a lender may incur is highly advisable. Not every collection agency understands how the foreclosure/mortgage loan process works.

Serving Lenders Nationwide Need an Experienced Agency for Mortgage Collection? Contact Us

Most Banks and Credit Unions have their in-house collection teams to remind borrowers once they miss a payment. They usually report a late or missed payment to the borrower’s credit report every 30 days. But those missed payments are not going away; they make the mortgage repayment even steeper and more challenging for the borrower. Only a couple of missed payments can potentially push many borrowers beyond that point where they become mortgage defaulters.

To get a higher mortgage recovery, follow these three thumb rules.

1. Transferring an account to a collections agency earlier rather than waiting.

2. Scanning and storing all paperwork in electronic format and forwarding it to the collections agency promptly when requested.

3. Rather than selling the debt cheaply to a debt buyer, outsource it to a collection agency for better collection returns and profits.

Collection Letters Service

The upfront cost for 5 Collection Letters is about $15 per account. Debtors pay directly to you, no other fees. Low-cost option. Good for accounts less than 120 days past due.

Collection Calls Service

Contingency fee only. No upfront or other fees. Agency gets paid a portion of the money they recover.  No recovery-No fees. Best for accounts over 120 days. A debt collector calls a debtor many times. If everything fails, a possible Legal Suit can be filed if recommended by the attorney.

Steps involved in recovering unpaid mortgage

Recovering unpaid mortgages involves a series of legal and administrative steps. It’s important to note that the process may vary depending on the jurisdiction or country in which the property is located. Here is a general outline of the steps that may be involved in the process of recovering an unpaid mortgage:

1. Review the Mortgage Agreement: The first step is to thoroughly review the mortgage agreement to understand the terms and conditions, and what steps can be taken in the event of non-payment.
2. Contact the Borrower: Before taking any legal action, it is standard practice to contact the borrower to inquire about the missed payments. It is possible that there is a legitimate reason for the non-payment.
3. Send a Formal Notice: If the borrower does not respond or is unable to make the payments, a formal notice may be sent. This notice should detail the amount due, including any late fees and the deadline by which the payment must be made.
4. Consider Alternative Solutions: Depending on the borrower’s circumstances, you might consider alternative solutions such as loan modification, forbearance, or a repayment plan.
5. Initiate Legal Action: If the borrower is still not able to make the payments, the lender can initiate legal proceedings. This usually involves filing a lawsuit in court to recover the money owed.
6. Foreclosure Proceedings: In many cases, recovering an unpaid mortgage may involve the lender repossessing the property through a process known as foreclosure. The foreclosure process can be judicial or non-judicial depending on the laws in the jurisdiction.
7. Property Auction or Sale: Once the property is repossessed, it may be sold through an auction or traditional sale to recover the unpaid mortgage amount.
8. Deficiency Judgment: In some cases, if the sale of the property does not cover the total amount owed on the mortgage, the lender may seek a deficiency judgment against the borrower for the remaining balance.
9. Collecting the Deficiency: If a deficiency judgment is granted, the lender may take further actions to collect the remaining balance. This can include garnishing wages, levying bank accounts, or placing liens on other properties owned by the borrower.
10. Report to Credit Bureaus: The lender may also report the foreclosure and any deficiency judgments to credit bureaus, which can have a significant impact on the borrower’s credit score.
11. Closing the Case: Once the lender has recovered the funds or the property has been sold, the legal case will be closed.

It’s important to note that laws and regulations governing mortgage recovery and foreclosure vary widely by jurisdiction. It is advisable to consult with a legal professional who specializes in real estate and mortgage law to understand the specific processes and requirements in your area. Additionally, lenders should also be cognizant of any legal obligations they have to act in good faith and to comply with laws that protect the rights of borrowers.

If you are looking for a Collections agency with extensive experience in recovering and negotiating mortgage debt: Contact us

Optometrists examine the eyes for both vision and health problems. They spend years getting the “Doctor of Optometry” degree and then gradually establish their name in the city. It is undoubtedly a promising career since a wave of aging baby boomers will eventually need to see an optometrist at some point in their life. However, optometry practices have their own set of business complications, including overdue accounts receivable.

Need a cost-effective Collection Agency for your unpaid bills? Contact Us

Optometrists regularly face several business challenges, these include:

1. Managing their employees and retaining quality talent.
2. Keeping up with government regulations.
3. Paperwork associated with running a small business.
4. Low reimbursement rates from government programs like Medicaid or Medicare.
5. Retaining patients when their employer changes vision insurance.
6. Peer competition.
7. How to expand their optometry practice to get new patients.
8. Accounts receivable and unpaid bills.

But when a patient repeatedly fails to make a payment on time, there is little that an optometrist’s office can do. Sending reminder invoices and follow-up calls often do not work. They are met with several excuses from patients, often genuine, sometimes not. In a worst-case scenario, the patient does not pick up the call, or the invoice letter gets returned as “undelivered/wrong address”.

Overdue accounts receivable can hurt the profits of a small business.

Another nightmare scenario can arise if the practice gets sued back by the patient because the in-house staff of the optometrist’s office was not fully aware of the federal and state collection laws involved while trying to recover money on past due accounts and unknowingly commits a violation. These legal complications can be costly and stressful for the practice.

Health insurance or vision insurance plans cover many optometry services. Dealing with insurance companies can complicate the billing process due to reasons like denials, delays, and the need for additional documentation.

Instead of writing off these past-due accounts receivables, transferring them to a professional Debt Collection Agency after 60 or 90 days of non-payment is advisable. 

Collection Agencies have sophisticated debt collection techniques and tools to track the debtors and recover money from them. Optometrists can select low-cost diplomatic demand demands service or a slightly more intensive collection calls service. The earlier you transfer an account for collections, the higher the chances you will recover money from it.

Collection agencies are cautious while dealing with medical debt collections. They will try to recover money diplomatically so that the patient-doctor relationships are not strained. Unethical, aggressive, and abusive tactics can ruin your practice’s reputation.

When patients realize that a debt collection agency is involved, they are far more likely to clear their outstanding bills. So, while the optometrist focuses on serving existing clients and expanding his practice, the collection agency acts as an extension of their office, recovering money from past-due accounts.

Collection Letters Service

The upfront cost for 5 Collection Letters is about $15 per account. Debtors pay directly to you, no other fees. Low cost option. Good for accounts less than 120 days past due.

Collection Calls Service

Contingency fee only. No upfront or other fees. Agency gets paid a portion of the money they recover.  No recovery-No fees. Best for accounts over 120 days. A debt collector calls debtor many times. If everything fails, a possible Legal Suit is recommended by the attorney.

Contact us for your debt collection needs.

Whether you run a public, county, or private college library, you likely have several unpaid bills (dues and late fines) from users who take books but do not return them. Hiring a professional debt collection agency can help to recover money and improve the cash flow of your institution.

Most library patrons wrongly perceive that once they issue a book and do not return it – it’s a “No Big Deal”. Libraries are funded by local, state, and federal dollars. All books and equipment of a public library are, in a way, the property of the US government.

Libraries run on tight budgets, yet they are often forced to purchase fresh copies of those books, which the existing issuers do not return. This is an unnecessary expense and eats up into their already tight budget. Patrons who return books late are imposed a late fee. Interestingly this is also a small source of revenue for public libraries.

Need a professional debt collection service to recover dues? Contact us Serving Libraries Nationwide

When a patron fails to return a book, the library has the right to take appropriate action to recover its money. Library dues are legitimate debts and can be reported to credit-scoring agencies like Equifax, Experian, and Transunion.

If a book ( or multiple books) issued by a person is not returned, then every library has a different system to handle it. Most libraries transfer their past-due accounts to professional collection agencies once the late fees exceed their threshold limit.

Collection Letters Service

The upfront cost for 5 Collection Letters is about $15 per account. Debtors pay directly to you, with no other fees. Low cost option. Good for accounts less than 120 days past due.

Collection Calls Service

Contingency fee only. No upfront or other fees. Agency gets paid a portion of money they recover—No recovery-No fees. Best for accounts over 120 days. A debt collector calls debtor many times. If everything fails, a possible Legal Suit if recommended by the attorney.

A debt collection agency will send diplomatically worded written demand letters to the patron ( aka the debtor) to clear off their library bill with interest and late fees. They can even perform debt collection in the Spanish language.

Check here: Cost of hiring a collections agency

Collection Letters are the cheapest and a very effective way to recover money. Collection agencies do several scrubs to locate the debtor if he/she has shifted from the address provided by the library, then they send the demands to the latest address of the debtor. Collection agencies have access to several tools and technologies that assist in recovering the money. Debtors are often surprised when they receive a collections letter, but many people clear their library debt quickly.

If the debtor does not pay after receiving several written demands, the account can be transferred to a professional debt collector for Collection Calls. More advanced skip-tracing tools are utilized at this stage to recover money. The Fair Debt Collection Practices Act (FDCPA) prohibits debt collectors from using abusive, unfair, or deceptive practices to collect from debtors.

Collection agencies have recovered millions of dollars for public libraries. This also discourages the bad behavior of other patrons who feel that not returning a book is “No big deal”.

Contact us for your library debt collection needs.

Government agencies look for these five essentials in any collection partner:

• Strict compliance: Fully meet FDCPA, GLBA, TCPA, state rules, and agency procurement policies.

• Live transparency: Dashboards + reports showing placements, dollars recovered, and complaints.

• Government-grade security: FedRAMP-level or equivalent encryption, audits, and incident-response plan.

• Reputation-safe outreach: Polite, multilingual, multi-channel contacts that minimize complaints.

• Documented results & value: High recovery rates, budget-friendly fees, and public-sector references.

GSA-approved collection agencies that specialize in “Government debt collection” are adept at handling the delicate aspects of the collection process. They possess the expertise to recover maximum funds while simultaneously upholding a reputation for fairness and maintaining a low rate of complaints. Their approach is tailored to the sensitive nature of government-related debt recovery.

Government debt collection agencies are easy to use and capable of fulfilling your Request-for-Proposal (RFP) if needed. It’s essential for these agencies to be adaptable and to prioritize specific accounts to ensure optimal returns. They should focus on maintaining low costs, strictly adhering to debt collection laws, and employing a customer-friendly approach to avoid harassing individuals during the debt collection process.

Need a Government Collection Agency: Contact Us ★ High recovery & near-zero complaint rate

To achieve GSA approval, a collection agency must undergo a rigorous application and review process. This involves demonstrating its proficiency, financial stability, and strict compliance with federal regulations, including the Fair Debt Collection Practices Act. This comprehensive vetting ensures that the agency is capable and reliable in handling government-related debt collections.

Why are collection agencies so essential to recover unpaid government bills? 

When government employees or accountants reach out to debtors about settling past-due debts, the response is often not taken as seriously as when a professional debt collector intervenes. Collection agencies, as professional debt collectors, employ a range of legally permissible and diplomatic strategies to significantly increase the likelihood of debt repayment. For government collections, which encompass local city, county, municipal, state, and federal levels, maintaining a low complaint rate is crucial. Regularly presenting a collection performance report to the client is a fundamental aspect of the debt recovery process.

The landscape of federal and local debt collection laws is constantly evolving. Professional debt collectors undergo ongoing training to stay compliant with these changing regulations, including the Fair Debt Collection Practices Act (FDCPA), the Telephone Consumer Protection Act (TCPA), the Health Insurance Portability and Accountability Act (HIPAA), and various other directives.

Public agencies, such as county, municipal, state, and federal entities, rely on funding for essential services like school budgets, road construction, and emergency services. In this context, debt collection agencies play an indispensable role in the government’s financial ecosystem by recovering funds from past-due accounts.

In cases where standard debt collection tactics are unsuccessful, and if policy allows, high-value defaulters may be pursued legally. The collection agency’s legal department can potentially secure court orders for wage garnishment or bank account levies.

Government debt collections can involve a range of past-due accounts, from unpaid speeding tickets, property taxes, and water bills, to IRS/income taxes, parking fines, local citations, municipal fees, bounced checks, toll taxes, court collections, and other unpaid fines and taxes.

During municipal and government collections, the fees charged by the collection agency are generally added to the debtor’s total amount due. This approach ensures that the government agency itself does not incur a loss while recovering owed funds.

In government collections, there is an important rule:  An account is typically after the consumer has received at least one notice from the government before a debt is transferred to a third-party collection agency ( or at least the government department “attempts” to send a written notification).

There are minimum standards that a government debt collection agency has to follow:

1. Collections approach should be diplomatic, ethical and empathetic.
2. Ability to process large account volumes.
3. Follow FCPA, FCRA,  FDCPA rules and other laws and state-specific rules that may apply.
4. Dedicated government subject matter experts and a low complaint rate.
5. Offer a simple system to load accounts in their system and report the payments back to the client.

A nationally licensed government debt collection agency can recover money from debtors regardless of location, often in coordination with the General Services Administration (GSA). GSA coordinates and tracks debt collection through other government agencies with automated internal processes and collection technicians. Suitable for municipality, city, state and larger county debt collections.

* GSA Vendors are businesses that have been awarded a GSA Schedule Contract by the General Services Administration. These contracts allow federal, state, and local agencies to purchase products and services from these vendors at pre-negotiated prices and under pre-negotiated terms and conditions.

Serving: Alabama, Alaska, American Samoa, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Guam, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Minor Outlying Islands, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Northern Mariana Islands, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin and Wyoming.

Contact us for your government debt collection agency requirement.