The Ripe Time to Turn Over Collections

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As a creditor it can be difficult to know when it is the right time to turn an account over to collections. Even though your collections efforts may not be coming to fruition, you may have several reasons for not wanting to turn an account over to a collections agent right away. You may not want to spend the extra money on outside collections, or you may simply want to have faith that your clients will eventually pay the debt you are owed. However, at some point you have to face reality and know that a collections agent is required.

But how do you know when the time is ripe to turn over an account to a collections agent? There are several key factors that can help you determine this. First, consider the response you have had from your client. If your client has completely ignored all contact regarding the matter for several months, you need to enlist the aid of a collections agent.

Another thing to consider is how much time your company is spending trying to collect the debt. Time is money. It may be more cost effective in the long run to hire someone to collect the debt for you.

Finally, there are many times during the year that is the best time to turn an account over to collections, because there is a possibility of an influx of money. If your client is a student, there is a good chance that they receive loans and other funds around the end of December and the end of August. These are good times to try to collect on the debt.

Another great time for anyone to collect on a debt is during tax season. People often begin filing their taxes as early as February if they know they will be receiving a refund. Starting the collections process in February and going on strong through May or June will guarantee that you catch your client with their tax refund in hand. At this point, if they do not pay the debt, you know they have no intentions of doing so.

In the end, any time can be the ripe time to turn an account over to a collections agent. It all depends on your resources and your company’s policies on how long a debt can remain unpaid before you take action. Most certainly any debt more than six months old should be sent to a collections agent. These agents can often have the means to collect on a debt that you yourself cannot obtain. 

Small Business Collections - How Collection Efforts can Benefit Small Businesses

There are all types of debt collection claims that can be handled by the office of Ross Gelfand. If you have a small business, sometimes these are the most difficult types of collections to be reimbursed on. With today’s economy, it is harder to collect unpaid balances, but at the office of Ross Gelfand has found a way to make it easier by offering services for commercial, rental, medical, and skip tracing services. What the help of their office they can help small businesses collect the money that is owed to them. They have a team of experts waiting to answer any type of questions that you may have. 

Unfortunately, most small business will one day have a situation with collections. At first, you may not realize how much revenue you may be losing every day. The law office of Ross Gelfand has done a remarkable job recovering some of the lost currency. They offer many different types of services. They can help you handle a vast variety of small business situations and business collections services. They can handle everything from a commercial lease to a contract on the building. Sometimes the most difficult situations may be insurance subrogation but this office will always rise to the occasion, and succeed to help you get the benefits you have deserved. They provide telecommunications and high technology on your behalf to get you the best return possible within your legal rights. 

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By having the ability to collect some revenue on your behalf your small business can start to thrive. Your small business will be likely to succeed even more because you can reinvest your own hard earned money back into your business. There has never been a more dedicated law firm, then Ross Gelfand to help the small company. It may be just a few dollars here and there, but those few dollars add up. With today’s economy, every little bit helps, and before you realize the money that is owed to you the figure could be in the thousands. Ross Gelfand has the experience and the knowledge to help you collect everything that is owed to you. The law offices of Ross Gelfand work within the legal guidelines of several different states. They will do all the necessary paperwork, phone calls, and follow-up on your behalf so that you, as a small business owner, will have one less thing to worry about.

The Pre-Judgment Phase of Debt Collections – How Law Firm’s Efforts Obtain Better Results

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There are numerous steps a small-business owner can utilize in collecting money owed. A small company owner may start out with letters of notification, and follow up with phone calls to the person who owes the debt. A small business owner may get a response from the debtor and they may pay their debt. Unfortunately, sometimes a business owner may need to hire an outstanding law firm such as the Law Office of Ross Gelfand. Putting a law firm to work for you makes perfect sense. It will increase your leverage and show that you mean business in collecting the money owed to you. 

At the Law Office of Ross Gelfand, they understand today’s economy and that everyone is just trying to get by financially. When the small-business owner has no other alternative, they can hire Ross Gelfand to take pursue the uncollected balance. If they have tried everything possible to collect the debt from the individual and nothing has worked, they may seek a pre-judgment phase of the debt collection process. What that means is that a letter is sent out to the one who has not paid their balance on behalf of the business stating the fact that in a certain amount of days, if the balance is not paid, then the Law Office of Ross Gelfand has no other choice but to seek a pre-judgment in an attempt to get the individual which owes the money to pay the balance. If all else fails then there will be a set judgment against the debtor to recover the amount of money that is owed to the company. 

The Law office of Ross Gelfand is outstanding when it comes to the pre-judgment phase of the debt collection process. They understand with today’s financially trying times. At the law office of Ross Gelfand after everything has been tried: the statements, phone calls, and letters, they will move to the judgment phase of debt collection process on the behalf of the small business owner to start the process of garnishing wages. They understand the struggles of the small business owner, and have the unique ability to handle this type of situation in a professional manner. Any small business owner who has an outstanding amount of debt that needs to be collected should take a look at the law office of Ross Gelfand.

Post - Judgment Phase Collections

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At some point, as a small business owner, everyone faces the problem of collection.  You have tried to collect the money yourself, but have been unsuccessful.  You hired the Law Offices of Ross Gelfand, and they did their job.  Very professionally, they made the phone calls, sent the letters out, and actively pursued the pre-judgment phase of debt collection process on your behalf.  If these efforts have been to no avail, what is there left to do next?

At the Law Offices of Ross Gelfand, they know their job is not finished.  Once they have the judgment, even more work will need to be done.   Ross Gelfand understands that even with this piece of paper from the court some people still will not pay you, the small business owner.  If an individual had every intention of trying to make restitution, they would probably have never let it lead to the court system.  They would have made simple payments until the balance was paid in full.  At the law offices of Ross Gelfand, they understand the way some individuals think.

The Law Offices of Ross Gelfand is skilled and knowledgeable, and they know how the debt can be collected after the time of judgment.  They investigate where the one who owes the judgment may be employed.  The name of the bank account being used by the debtor will be discovered.  The Law Offices of Ross Gelfand will take legal action on the behalf of the small-business owner to collect the money that is owed.  They may be able to do this by withdrawing the funds directly from the bank account of the debtor where funds are held.  They may have to garnish the individual’s wages until the balance is paid off.  They will do everything in their power to ensure that you, as a small business owner, will receive the money that is due to you.  They understand that everyone does work hard for a living, and sometimes individuals get themselves into a situation where they cannot pay their debt off. The office of Ross Gelfand is willing to work with individuals and will always do so in a professional manner so as not to embarrass anyone involved.

You need to understand the judgment does not guarantee payment.  A judgment simply grants you the ability to try to get the judgment enforced.  The Law Offices of Ross Gelfand are experts in judgment recovery.

How the FDCPA and TCPA Effect Collections

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The Fair Debt Collections Practices Act, or the FDCPA, and the Telephone Consumer Protection Act, or TCPA, both effect technologically based collections agencies negatively. There are many provisions set forth in these acts that make it difficult for a technology based collection agency to use auto dialers, automated messaging systems, and automatically printed statements or collection notices. These regulations must be followed, yet it is difficult to follow all of them using this technology for collections.

For example, the TCPA mandates that you must provide your name, the name of the entity, and the phone number or address of the entity on any automated messages. This can be detrimental to collections efforts, as people are not likely to return your call if they know who is calling and why.

Another example of how the TCPA negatively affects technology driven collections agencies is that it prohibits automated recordings or artificial voices to call any cellular phone. This is detrimental to technology based collections agencies, because many Americans only carry a cell phone. Home telephone service is becoming a thing of the past. If you cannot contact a cell phone by automated means, you may as well give up on the automated means all together.

The provision about cell phones in the TCPA hurts countless agencies that do not even realize they are calling a cell phone. However, the way the law is written, each offense can cost the agency five hundred to fifteen hundred dollars per occurrence. This is a hefty price to pay for the cost of doing business. No agency can afford it. Therefore, most collections clients cannot be contacted by automated means.

The FDCPA also gives limitations to technology driven collection agencies. For one thing, you cannot contact someone by phone if they request no contact by that means. This cannot happen if you have an automated system, and it can be argued that by not giving someone the opportunity to deny contact you are violating the act.

Another way the FDCPA limits automated collections is by the fact that various statements must be made in every contact. The collections agent must make it clear that the call is from a debt collector, and that any information provided will be used to collect on that debt. Including this type of personal information in an automated call is nearly impossible.

As you can see, there are many reasons why technology driven collections agencies are becoming a thing of the past. Between the TCPA and the FDCPA, there are so many regulations that must be followed that automated systems are nearly obsolete. You may need to consider other means for collecting your debts.

Collection Management and Debt Solution

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Many financial institutions seek the assistance of an experienced debt collection agent to enhance their debt portfolio. The debt collection agencies are specifically hired by lending institutions to acquire the money owed to them. Collection laws are executed by professional law firms that provide companies with the legal securities and protection needed to establish an effective collection campaign.

Any financial organization that endures debt or collection issues has the opportunity to utilize collection attorney affiliates to effectively recover large bills that have gone unpaid. A network of bonded and licensed collection attorneys offer a friendly service that not only recovers your debt, but also improves profitability. Your need to communicate with the debtors can be achieved through the involvement of highly skilled collection law offices within thirty days. Specifically, the debt collectors take pride in utilizing a unique approach that renders a debt solution in a timely and inexpensive manner.

The friendly collection law experts are always available to assist you with your commercial and retail debt collection needs. Licensed and professional debt collection attorneys provide services for well- established corporations to private individuals. The law firm patiently answers your questions, while simultaneously composing a powerful argument to manage your case. More so, the knowledgeable attorneys provide efficient services that accommodate each client’s needs. There is an array of services, which also includes medical and Skip Tracing.

The commercial account receivables include commercial lease accounts, binding contracts, telecommunications, open accounts, high technology, and insurance subrogation. The collection law offices also encompass a retail collectors department that specializes in consumer debt problems. Retail collections may include insurance subrogation, auto deficiency, credit card, and unsecured loans. A law collection management team will work on medical dilemmas, to include self- pay, contract compliance, PPO appeals, silent PPO’s, and HMO reimbursements. The Skip Tracing process is an aggressive and effective strategy used for tracking debtors. In order to successfully collect money owed to you, you must first locate the subject. Despite attempts to relocate or disconnect phones, the Skip Tracking debt solution tool is equipped to locate any debtors across the globe.

Utilizing the services of highly skilled collection attorneys has considerable advantages. A debt collecting law firm proves to be very effective in collecting aged receivables; delivering a high recovery rate. They have the resources necessary to successfully fulfill its client’s needs.

The Law Offices of Ross Gelfand, LLC provides quality services at reasonable prices. The attorneys and their affiliates are both friendly and knowledgeable. They have a unique approach to providing reliable and efficient services. Contact these highly qualified attorneys at www.collectionfirm.net to experience your ultimate debt solution.