Each year about 70 % of court judgments remain unclaimed in the United States. This is quite a bewildering fact as people are not claiming what is legally theirs. However, there could be many reasons for this: a debtor may have moved to a state where this judgment is not enforceable, has changed his own name or has hidden his assets. These days, there are not many people who would like to go on a wild goose chase to locate the debtor and then recover their dollars; they’d simply let go of it.
A judgment that stands in your favor is like a written I.O.U. In case you fail to recover that money, your debtor will get away free and you will then have waste your precious time in taking that debtor to court. In these circumstances, a 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 recovering money from your debtors, who in many cases are not interested in paying you back.
Here are some ways in which a national collection agency goes about its debt recovery business:
1. They assign an account manager: They are perfectly aware of the specific requirements of the clients and all aspects of the recovery process. 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. It will first locate the debtor as it has vast resources at its command, and able to access the necessary records using skip-tracing tools.
3. Dispatch a respectful reminder: It has been observed that sometimes 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 negotiate the amount which is to be paid. This negotiation actually helps in recovering at least some part of the money in situations where cash crunch prevents the debtor from any repayment.
5. Recover the money with interest: Sometimes when the payment gets delayed for an extended amount of time, interest often accrues on the total debt. When the judgment recovery job is assigned to a professional agency, you can rest assured that they will use 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 use 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 national collection agency respects its clients and maintains a totally transparent relationship with them. You are provided with the regular updates on the progress of your case.
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Fixed Rate Collections makes it a common practice to speak directly with any potential clients wishing to gain access to the Fixed Rate Collections debt collection network. To get the signup process started, please fill out the form below and we will contact you within 12 business hours, or you may contact us immediately at 1-321-319-4131