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Account receivables looking for debt collection agency

Date: Mon, 11/21/2005 - 06:48

Submitted by anonymous
on Mon, 11/21/2005 - 06:48

Posts: 202330 Credits: [Donate]

Total Replies: 3


We are a company which have receivables $350,000 from a company in los angeles. This receivables is not settled until now from 4 years ago. Could you please recommend the best debt collector for this matter? Thank you.


Eddy

Welcome to the forums. If you are a company trying to collect from a company, I would recommend hiring an attorney. They would be better at getting the money back with faster results.

collection agencies usually buy the accounts from you, and only pay around .25 cents on the dollar. You would only see a portion of what you're trying to get back. (Possibly around $87,000 is what you would get.)

However hiring an attorney, they might only charge you 10%. (And you would see about $315,000 of that.)

Regards-
Mike


lrhall41

Submitted by Teleport on Mon, 11/21/2005 - 08:12

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Most collection companies in our industry work on contingency only - meaning you do not pay them unless the debtor pays. Meaning if ALL debtors did not pay you would owe nothing. 70% of the money we collect is done in the first 30 days - compare that to the time the typical court case can take 6 months-18 months. Would love to have the attorney's name and number that works for 10% - we would love to have him on staff!! James Stevens & Daniels 800-305-0773 ext 150


lrhall41

Submitted by clements on Wed, 08/27/2008 - 10:54

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