Debt Collection Services
When your accounts are received, they are immediately set up in our computer system. A “First Notice Demand Letter” is sent out to your debtors notifying them that their account has been placed with our agency, and legally giving them 30 days from the date of their letter to pay their account in full, or to dispute the debt in writing. If there is no response from the debtor in the 30 days following the receipt of the demand letter, the debt is then reported to a credit bureau (if the client has approved) and the account is placed in active collections. a. At this time our collector will call the debtor and ask for payment in full for the delinquent fees. If this is not financially possible, the debtor is given three choices: 1. Payment in full over two months. 2. Payment in full over three months. 3. 10% of the balanced owed or $100.00 per month, which ever is greater, until the entire balance is paid in full. If, none of the above payment plans are financially possible for the debtor, the account is then transferred to a manager to work with the debtor to develop a repayment schedule that will work for both the debtor and the client. b. Once a payment arrangement has been set up with your debtor, our computer system will keep track of all payments, when they are received, and if a payment is late, or missed, it will alert a collector who will then contact the debtor. c. If there is no telephone contact made by the collector with the debtor, a second “Demand Letter” will be sent. d. If the collector finds that the debtor is no longer at the address that has been provided to us, we will then search for the debtor in our own computer system at no charge to our clients. If after we have exhausted our internal search avenues, we will then turn it over to our SKIP Tracing Department for further research. Our collectors have at their disposal a series of letters that we have found to be very effective in prompting the debtors to respond. Our collection letters have been reviewed and approved by the American Collectors Association for content and have been found to be in compliance and within the guidelines of the Fair Debt Collections Practices Act, and in conformance with 9 VSA, Chapter 63, Subchapter 3 (Fair Credit Reporting).
SKIP Trace Services
At CAFS we have our own professional SKIP Tracing Department. We are interfaced by computer link with 15 International Data Base and Skip Tracing Services throughout the United States. We can provide your business with verification of Social Security Numbers, address verification, place of employment history and much more! We also can provide you with up to date address corrections for your office for a small fee. When your statements come back with the wrong address, give them to us to correct. We have a turn around time of 24 hours, which will help you to get 100% of your money faster! With the help of our Skip Tracing Department, we can find your debtors and get them to fulfill their financial obligations to you! Our agency has had a success rate of 95% in locating civilian debtors.
Bad Check Collections
Our collectors are trained and experienced collecting bad checks. We will use all of our knowledge and skill to handle this delicate task. Each “bad check” returned to CAFS for collection will have an additional processing fee of $25.00 added to the balance. All monies received on the principal balance of the check will be the property the Client. All processing fees become the property of CAFS.
Small Claims Court and Referral to our Attorney
We offer our clients the service of our on staff attorney and the option to take the debtor to Small Claims Court. Our Agency will verify employment, file paperwork and keep our client up to date on all judgments and payment arrangements made by the debtor as a result of Small Claims Court. No debtor will be sent to Small Claims or to our Attorney without prior approval from the client. Accounts that are referred to an Attorney or to Small Claims Court are tracked and followed up on the same as a regular account in collections.