Why use a collection agency?

Many times consumers will pay a collection agency even though they did not cooperate with the original creditor. Once the account is placed with us, debtors realize that it is a serious situation and that their credit/credit score will be compromised. It also allows your staff to do the job you hired them to do, rather than spending precious time contacting consumers trying to collect past due accounts.

When is a good time to employ a collection agency?

We have found that the best time to turn debt over to a collection agency is when any one of the following has occurred... • The debt has become more than 60 days past due • You have lost contact with the consumer • The consumer expresses financial issues • The consumer demonstrates bad faith and loses credibility, i.e. has broken a promise to pay you by an agreed upon date.

Are there any upfront costs or fees for collecting an account?

There are no upfront charges or fees to turn an account over to us. We get paid on a commission basis. If we don’t collect, we don’t get paid.

Is there a contract to sign?

We do have a Collection Service Agreement prepared for your signature. This is a brief explanation of our processes and responsibilities. This is to protect your interests as well as ours.

What types of debt do you collect?

The CBAL collects all types of debt. • Medical / Health Care • Retail / Service • NSF / Returned Checks • Commercial • Government • Educational Institutions • Financial / Loans • Telecom / Utilities • Judgments • Credit Card

How old of debt will you collect?

We will accept an account from the earliest date you have determined it to be delinquent to as late as it would still be reasonable to expect payment from the consumer. You should know, the sooner an unpaid account is turned over to us the higher our chances of success are. The best time is usually from 60 to 90 days delinquent. But, if your account is already older than that, don’t be afraid to place it with us. We work all accounts with the same processes and effort and have a higher than industry average on collecting those accounts.

Is there a minimum amount that you will try to collect?

There are no dollar limit minimums that we will try to collect for you. Each account is given the same processes and collection effort.

How will I know when you collect on my account?

Each month if we have received a payment for your account, you will receive a statement after our end of month process is complete showing who paid, how much was paid, the balance owed, how much was due the CBAL for collections and a check for the amount owed you. Additional reports are available per your request.

What type of information is needed to collect an account?

The more information we receive on an account past due, the more likely we are to make contact with the consumer and secure payment. Of course name, most current address, phone and/or cell number and what goods or services were provided, the date provided and the current total balance owed are a must. Additional information could be a signed contract, social security number, date of birth, spouse, place of work, maiden name or other names previously used. This additional information is not needed to place an account with us but becomes very useful if contact has been lost with a consumer or it is decided to litigate the account.

Do you litigate accounts?

The CBAL has a litigation team that reviews all accounts that have been determined intentionally deceptive (someone that has the means to pay but chooses not to pay). Once it has been determined the account is collectable through a judgment, a request will be sent to you for your approval. We may also need additional information at this time. We then proceed through the entire process as needed from the first claim and summons filing to the final stages of collection. There is no cost to you for litigation. It is paid for entirely by the CBAL.

Do you collect on judgments that have already been awarded?

Yes, we can collect your judgment. As you are probably already aware, getting the judgment is just the first step of collecting a debt through litigation. Collecting a judgment is both costly and time consuming. The CBAL has the experience and knowledge to process your judgment from start to finish and the best part is you won’t have to spend another dime.

How can we place accounts for collection?

We accept accounts (placements) by mail, fax or email. If you are near our immediate location you may also drop off your placement or call us and we will pick up the information.

Will you accept a settlement offer on one of my accounts?

There are occasions when a consumer will make a settlement offer on an account. If it is a reasonable offer we will contact you and let you know what has been offered, we will also at this time offer you guidance if you so desire. The final say on whether or not to accept the offer is entirely yours and we will proceed, as you wish.

What is Skip Tracing and what does that have to do with the collection process?

Skip tracing is utilized when we have lost contact with the consumer that owes you money. We have a special team that will access large databases to try to find information on a consumer such as current address, phone number, aliases they may be using, work place and property and assets they may own. This information is also used when preparing for litigation. Some of these databases are subscribed to and some are available to us as a collection agency.