Each year about 70 % of the court judgments remain unclaimed in the United States. This is really a quite bewildering fact as people are not claiming what is legally theirs.
However, there could be many reasons for this; debtor may have moved places to some state where this judgment is not enforceable, has changed his own name or has hidden his assets. Today in this busy world, there are not many people who would like to go on some wild goose chase to trace the debtor and then recover their dollars; they simply let go off it.
A judgment which stands in your favor is like a written IOU for you. Its pure money and is entirely yours. In case you fail to recover that money, your debtor will run away free and you will then have waster your precious time in taking that debtor to court. In these circumstances, judgment recovery agent makes the recovery process for that court judgment economically viable.
A judgment recovery agency has the requisite technology, expertise and highly trained persons at their disposal for recovery money from your debtors, who in many cases are not interested in parting with it.
We are discussing ways in which a national collection agency goes about its debt recovery business:
1. They assign you an account manager: They are perfectly aware of the specific requirements of the clients and all aspects of the recovery situation. A national collection agency performs in a much better way by maintaining close ties with their customers.
2. Track the debtors: In such situations a national collection agency functions like a private investigator if your debtor vanishes in thin air. It will first hunt down the debtor as it has vast resources at its command, access necessary records using some skip tracing tools.
3. Dispatch a respectful reminder: It has been observed that sometimes just respectful reminders about the outstanding dues are more than enough than any arm twisting tactics. A professional national collection agency dutifully sends out such reminders to your debtors.
4. They facilitate the process of debt negotiation: A national collection agency will permit debtors to try negotiating the amount which is to be paid. This negotiation actually helps in recovering at least some part of the money in situations where some cash crunch prevents the debtor from any repayment.
5. Recover the money with interest: Sometimes when the payment gets delayed for a long time, interest often accrues on the total debt. When this judgment recovery job is assigned to some professional agency, you can rest assured that they will use really intelligent score models for ascertaining the exact amount of debt which is due from the debtor and will secure the same to you.
When you take the assistance from a judgment recovery agency for recovering your dues, you must ask that all the concerned aspects of the collection process be explained in detail to you. A professional national collection agency respects its clients and maintains a totally transparent relationship with them. They are provided with the regular updates on the progress so that you are always aware of the current situation of your case.
InterStation BPO maintains two tiers within its collection process. The first is dedicated to an amicable resolution of the debt, while the second is focused on legal proceedings that are designed to help enforce and collect the debt.
For an up-to-date approach to International collection procedures and guidelines, InterStation BPO is the best option for companies collecting international debts. If you have International claims you need collected contact us first.
For a FREE NO OBLIGATION QUOTE please fill our placement form to determine if we are the right firm for assisting you with your debt recovery needs. The best part is, if we don't collect, you owe absolutely nothing!