Collections Agencys

[Jinx]

I have a guy who owes me some cash and I am tried of trying to get it out of him.

How do I turn this over to a collections agency or does anyone have any ideas...?

Legal ones

 

[Jeeptj98]

I have a guy who owes me some cash and I am tried of trying to get it out of him.

How do I turn this over to a collections agency or does anyone have any ideas...?

Legal ones

I don't think I would submit it to a collection agency. Work on collecting it yourself. Get a judgement put on him for the cash. If it is in anyway connected to the home go and put a Lien on the home and start foreclosure right away.

 

[olywrestle]

i agree, a collection agency will keep at least half, and with you only having a single case, you will probably not get very much of you rmoney back....

 

[4thefamily]

Collections agency

I have a guy who owes me some cash and I am tried of trying to get it out of him.

How do I turn this over to a collections agency or does anyone have any ideas...?

Legal ones

The collections agency we use is out of Layton and they do not take anything from the amount owed to you. They add on their fees and when they collect you receive 100 percent of what is owed to you. I am almost positive this is how most collection agencies work.

 

[Col Mustard]

Collection agency fees will vary. Some companies will buy the debt from you for a percentage of what is owed. Others, like mentioned above will structure it so you do get all your cash.
I would go to court and get a judgement against him. It doesn't cost that much to file. If he doesn't appear, you win automaticly. Then you can garnish his wages. The judgement will appear on his credit for at least 7 years and he'll also be responsible for your court fees.

 

[StrobeNGH]

Our agency would charge a collection fee, and our client would get all of their money back, UNLESS the account was old, in which case we would 'buy the debt' from the client, and they would get our small fee and nothing from what, if anything, we collected.

The thing to consider: collection agencies are bound in what they can say and do to collect your debt. You are not.
Depending on how much the debt is, you can just hire an attorney to collect the debt for you, or you can keep calling the guy yourself.

 

[Jeeptj98]

Our agency would charge a collection fee, and our client would get all of their money back, UNLESS the account was old, in which case we would 'buy the debt' from the client, and they would get our small fee and nothing from what, if anything, we collected.

The thing to consider: collection agencies are bound in what they can say and do to collect your debt. You are not.
Depending on how much the debt is, you can just hire an attorney to collect the debt for you, or you can keep calling the guy yourself.

You should call all hours of the Night to Collect this. If you sell it to a 3rd Party Collection Agency then they have to Follow FDCPA guidelines. If you collect it yourself you don't have to follow those same guidelines.

 

[Jinx]

Thanks for the info,

When you say judgement, do you mean small claims court?

The amount he owes is under $1500,

I might need to get a hold of a couple of you for contacts of who you use...

thanks again,

 

[StrobeNGH]

Under $5k must be filed in Small Claims court . . .

 

[Caleb]

As others have said I would suggest collecting it yourself. Companies are restricted to what they can and cant say. I know when I went through training at Discover Card it got to the point that you couldn't even demand payment, your calls just had to be a "courtesy call" to remind them and to suggest they should pay. I dont know if things have gotten better or worse since then (I worked there about 5 years ago) but I know it was becoming very hard to collect on accounts. They can only call between 8 and 8...what you need to do is be a royal pain in his ass...call at all hours of the night, morning, day, etc. Threaten to sue, threaten to garnish his wages and put a judgement against him, if he has any property then threaten to put a lien on it (then if he ever sells you get your money before he gets any of his). Its kind of funny cause people can be the biggest dead beats in the world but once you mention legal actions that "could" be taken against them they all of a sudden are concerned (even though they are already 6 months or more behind)

do it yourself and have some fun with it...

 

[Jinx]

You guys are "sick and twisted" but you are my kind of "sick and twisted"

I have already started to document everything so I have a history of his avoidance and unwillingness to make restitution. So at least I have a something to do when I am bored.

thanks for the ideas and info!