- - How long will it take for you to collect my money?
- - Why use a collection agency?
- - What if the debtor disputes the debt or just refuses to pay?
- - What debts can be placed for collection?
- - How actively do you pursue bad addresses?
- - Does the age of the debt make it more difficult to collect?
- - How long have you been in business?
- - Is there anything I have to do to sign up?
- - Are there any guarantees of payment?
- - I'm interested in placing my collections with you, what are my options for sending accounts?
- - Does your company charge an annual fee?
- - If I decide to use your services, how do we get started?
- - What info would you need from me in order to get started?
- - Do you have any estimates of average recovery rates that we can expect?
- - Do you purchase the debts outright from us or charge a percentage of the debt collected?
- - What documents do we need to give you for you to support the debt?
- - What is your process for collection?
- - Do you have any requirements for us?
- - How long should I wait before I turn my accounts over for collection?
- - How many accounts may be sent to collections at once?
There are many variables that come into play when collecting your money. These variables include the age of the account, the size of the account, the information that you have been able to provide to us, the willingness of the debtor and the ability of the debtor to satisfy this debt. Unfortunately, not all claims are collectible. There are debtors who skip, file bankruptcy, become deceased or have no ability to pay the account. If a debtor has the ability to pay the account and is simply refusing to pay, than litigation becomes necessary, which takes additional time to recover your money.
Many debtors will pay a collection agency even though they never cooperated with the original creditor. The debtors realize you are serious only when they are turned over to a collection agency or will pay when they realize that their credit rating will be affected. Other debtors refuse to pay until they are forced to pay via litigation. Therefore it is possible for the agency to collect when the client was not able to.
If the debtor disputes the debt, we will provide them with documentation (provided by client) to prove the validity of the debt. This proof is generally an itemized statement of the charges. If the debtor refuses to pay, we may suggest legal action if there are assets or employment to justify litigation.
At H.S.I we do not have a minimum dollar amount on claims placed with us.
We continue to try to locate debtors for at least 6 months to a year, then we usually keep checking back on the account monthly to see if any files have been updated, such as credit bureau files, new address, employment, so we can locate them.
Yes, the older a debt is, the harder it is to collect.
HSI was started in 1963. We have been in business for 47 years. Our staff has extensive collective expertise in medical debt recovery and skiptracing.
Yes, please contact us for our contract and we begin working on your bad debt accounts immediately. There is no minimum number of accounts and all accounts are worked on a contingency basis.
No, we cannot guarantee payment, but will try our best to get your money for you.
You can contact us for our form to mail or fax it. You can contact us for a login and password to enter them on our secure website or you can contact us for downloading them directly onto our server through FTP (File Transfer Protocol).
No, we do not charge an annual or monthly fee.
Contact: Kim Granfor at (701) 224-9439 / 1-800-442-0462 or email email@example.com
Your company name, address, fax, phone, and email. The debtor's contact information, name, address, any contact phone numbers, SS# and DOB. Total amount owed and when it was incurred.
Recovery rates vary from client to client. The recovery rate would depend on the number of accounts places, the average dollar amount and the age. If for example, the accounts are all 90 days old and you have good addresses and phone numbers, the chance of recovery is high. We have a high recovery rate and have been told by some of our clients that we have collected money from them that other agencies could not.
A percentage of the debt collected. No charge if nothing is collected. We do not currently purchase debts outright from clients.
We would need a copy of an invoice or statement that has the amount owed, and the debtor contact information on it, such as address, phone, work location and phone, SS# and DOB.
Once you place an account with us, we send an initial collection letter to the debtor letting them know the account has been placed with us, who the creditor is (you) and how much is owed. By law we must also let them know that they have 30 days to dispute the debt or request verification. We wait a few days to be sure they have received this letter, and then we begin to call them. We cannot demand payment in full or report the debt to the credit bureaus within this 30-day period. After 30 days, if there has not been a payment or response, we send a demand for payment. Phone calls become more frequent and are also made in the evenings and on weekends.
The most important requirement we have is that you report to us if a debtor pays you directly. It is illegal for us to try to continue to collect once they have paid either you or us. Also, once you place the account with us, you must stop all in-house collection activity, cease sending monthly statements and discontinue the accrual of any interest.
You can turn them over whenever you deem it to be a bad debt account and your internal policy of utilizing a debt collection agency.
You can send as many as you have.