Stage I: Free, No Obligation, Case Evaluation
The objective is to conduct a free no obligation 4 step case evaluation on each claim to determine if there a plausible expectation of a positive outcome.
1. Is the debtor still operating as a going concern
2. Is the individual credit worthy
3. Is the claim less that one year old / past due
4. Is there documentation to support the claim
if the claim/s have these 4 key elements in place, there will be a plausible expectation of a positive outcome.
Collection Procedures by Way of Our Agents and Correspondents
1. Demand letter sent within 48 hours of placement
2. Follow up call and email made within 1 to 4 days of initial demand
3. Seek the cooperation and voluntary payment from all debtors at all times during our collection efforts
4. Collection platform consist of letters, emails, faxes, telephone calls.
5. Strict compliance with the FDCPA / Fair Debt Collection Practices Act & FCRA / Fair Credit Reporting Act
6. Status of all collection activity available within 24 hours
7. In field collection and site inspections are done on a case by case basis at an extra charge.
In accordance with contemporaneous industry standards, contingency fees will be in the range of:
Claims under $10,000.00 33.3% to 25%
Claims $10,000.00 to $50,000.00 15% to 20%
Claims $50,000.00 to $100,000.00 20% to 10%
Claims over $100.000.00 Fee Negotiable
If the claims are missing any of the 4 key elements listed above, the ability to achieve a positive outcome is questionable and the contingency fees will be determine on a case by case basis.
*Skips, 2nd placements or companies no longer operating as a going concern are subject to higher fees.
Collecting commercial debts is all about setting achievable goals and attaining quality outcomes with measurable results.Michael T. David