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.