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  1. #1
    Join Date
    Mar 2003
    Location
    Atlanta, GA
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    Collection Companies...

    If you have people who haven't paid... are they really worth it?
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  2. #2
    Join Date
    Dec 2002
    Location
    Miami, FL
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    1,487
    Not for $5 bucks a month or $50 bucks. But when it involves say $100 +, than I'd send them to collection agencies.

  3. #3
    Join Date
    Mar 2003
    Location
    Atlanta, GA
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    Ahh.. but are there downsides? Can something go wrong?
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  4. #4
    Join Date
    Dec 2002
    Location
    Miami, FL
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    You tell the collection agency how much they owe you, somtimes the collection agency will give you the money and than go after the person and get their money back or they will go after the person and when they get the money, give you it and take a % away. It depends on the amount of money involved.

  5. #5
    How long do collection agencies take usually?

  6. #6
    Join Date
    Oct 2001
    Location
    Ohio
    Posts
    8,535
    Originally posted by intricate
    How long do collection agencies take usually?
    Some you can just fax the data over that day, and they'll get the accounts setup in their system. Probably a day or two before they send out letters, and then a week before they before they start to call. On small accounts, like 100 dollars, they could start bringing in the cash right away. On larger accounts, maybe a little longer, although usually on the larger accounts they work out a payment plan of like $20 - $100 dollars a month.

    Most debt collection companies won't accept small accounts like $5 just because it's basically unprofitable for them to even try to collect on accounts like that. Even accounts like 20 dollars, they may reject.

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