Collection Agency - recommendations?

[Ducay]

Originally Posted by CaptainCrunch

I wouldn't offer them any kind of a discount at this point, why reward them for not paying?

Its not about giving them a break for not paying, its about increasing your likelihood of collecting anything. Would you rather get 0% of $4000, or 60% of $4,000?

[CaptainCrunch]

Originally Posted by Ducay

Its not about giving them a break for not paying, its about increasing your likelihood of collecting anything. Would you rather get 0% of $4000, or 60% of $4,000?

If they're not answering phones, I doubt offering a discount is going to get the job done.

I'd send em to collections just out of principle.

[Ducay]

Originally Posted by CaptainCrunch

If they're not answering phones, I doubt offering a discount is going to get the job done.

I'd send em to collections just out of principle.

Thank allah you're not in charge of any sort of business. Paying or not paying your bills a business decision, and collecting on them is as well. Don't send them to collections "out of principal", but rather, send them because it offers the best opportunity to recover some of the amount owing.

Why do you think creditors, the CRA, the IRS offer discounts on amounts owing to them by people in sever financial stress? Because if giving a discount means you get $50 instead of $100, you're still $50 ahead of where you would've been had you not offered a discount "out of principal".

That said, I'd try and talk to the company, offer a discount, let them know if not you'll be selling off the account. Simple as that.

[eddly]

Originally Posted by CaptainCrunch

I wouldn't offer them any kind of a discount at this point, why reward them for not paying?

Well, much better to get some kind of payment rather than nothing. I'm an accountant - I see this sort of thing a lot. I guess it really depends if you want business from them in the future.

[Table 5]

Huzzah, it looks like a strongly-worded email filled with prospects of legal doom has moved things along. They're now responding to emails, and dare I mention, sending a check this week.

[afc wimbledon]

Originally Posted by Table 5

Huzzah, it looks like a strongly-worded email filled with prospects of legal doom has moved things along. They're now responding to emails, and dare I mention, sending a check this week.

If I had a penny.....

[CaptainCrunch]

Way to go Hans Blix

[Traditional_Ale]

Originally Posted by Table 5

Huzzah, it looks like a strongly-worded email filled with prospects of legal doom has moved things along. They're now responding to emails, and dare I mention, sending a check this week.

Over under on it arriving?

[Table 5]

This time for sure!

[HPLovecraft]

Originally Posted by Table 5

Huzzah, it looks like a strongly-worded email filled with prospects of legal doom has moved things along. They're now responding to emails, and dare I mention, sending a check this week.

Just make sure to stay in touch.

[robocop]

I had to deal with this all the time. Usually you have to make it boldly clear, but not in an angry fashion, that you are going to have to take legal action. If there is any dispute over the contract terms be prepared for court.

If you clearly fulfilled your end the best way is a solid statement such as a voice message, formal letter or email that gives them a notification that is permanent in their mind. Tell the client that the options are legal action or pay up and give them a date by which they have to comply, a method by which they can pay and a number at which they can reach you. They will either just not have the money and you have to take legal action, they will dispute the contract or give you money that they don't want to part with. Most of the time they will pay up if you make it clear there is a date set at which legal action will be taken.

[troutman]

[Table 5]

Originally Posted by troutman

Check came in the mail last night. Woot!