What Do Collection Agencies Do?

Moon Twp, PA (PressExposure) June 03, 2009 -- Collection agencies charge for their services one of three ways: 1) A flat fee. 2) A percentage of what is collected. 3) Through a direct sale of the delinquent accounts.

If you are trying to collect a small or medium sized debt, using collection agencies that charge a flat fee are probably your best option - collection agencies that charge a flat fee work just as hard to collect a small debt as they do to collect a large debt. Generally most collection agencies use one of three methods to collect debt: 1) Letters. 2) Direct contact via the telephone. 3) Litigation.

ally, collection agencies begin the collection process by sending a series of notification letters, often called demand letters. The final notification letter generally warns the debt dodger that if the past-due account is not paid by a certain date, his or her name or company will passed on to more intensive collections.

Many collection agencies also pay their staff to phone the debtor directly. This direct contact is most useful in turning up the heat on debtors who have identified themselves as having no intention to pay their bill. Besides sending out letters and making phone calls, some collection agencies also specialize in locating debtors who can no longer be reached at the address or phone number listed on their accounts. To determine whether certain collection agencies offer this service, ask them about their "skip tracing" abilities. Litigation -- in small claims court or a full-scale courtroom -- is a final option.

About National Asset Management

National Asset Management, LLC (NAM) is today's most progressive Consumer Collection Agency for recovering debt from your customers. If your company is seeking to recover money from your corporate and/or commercial clients, NAM's Commercial Collection Agency division can handle that. Our purpose is to provide our clients with unmatched support, service and financial growth.

Press Release Source: http://PressExposure.com/PR/National_Asset_Management.html

Press Release Submitted On: June 03, 2009 at 2:31 am
This article has been viewed 10961 time(s).