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View Full Version : Just used Olddebts.com


Grits
03-25-2009, 12:50 AM
I had to use olddebts.com today. Did some landscaping for what was a good customer last year. I let her make payments on it. Payments were few and far between and eventually non-existent. I hated to do it, but she forced me to. I just ordered the letter package. If that doesn't work then I will have it reported to the credit bureaus. I will post how it works out using olddebts.com.

Surferbum21
03-25-2009, 02:25 AM
do you ahve to have a signed contract from customer to do this? i had one customer i had for years no problems and then all of a sudden no payment and no answers. stll lives there but can't get to pay.

Richard Martin
03-25-2009, 05:18 AM
do you ahve to have a signed contract from customer to do this?

No. But just remember that if you do harm to the customer's credit record and they sue you the burden of proof is on you to prove that they owed the money. I've used olddebts before and it is a very effective tool for getting your money.

puppypaws
03-25-2009, 08:51 AM
No. But just remember that if you do harm to the customer's credit record and they sue you the burden of proof is on you to prove that they owed the money. I've used olddebts before and it is a very effective tool for getting your money.

Richard, what is the procedure used for "olddebts", and where does the benefit of use occur?

Richard Martin
03-25-2009, 04:41 PM
Richard, what is the procedure used for "olddebts", and where does the benefit of use occur?

Pretty much anybody can use them. They will do almost anything that you want them to from sending simple "collection" letters to calling the deadbeat up and bothering them. They will put the debt on the deadbeats credit record too if you like and inform them that you've done it.

You simply register with olddebts and the services are done "ala carte". You pay a small fee (add it to the bill) for each service that you decide to use.

The benefit of use depends on the deadbeat. Some deadbeats don't care about their credit and couldn't care less whether you report them or not. Other people are very concious of their credit record and getting a letter from a collection agency based in California really gets their attention.

Olddebts is a branch of a real collection agency but where they differ from a real collection agency is olddebts isn't interested in buying your bad debt and then keeping the money that they collect. It is designed for the very small business or the business that only occassionally gets a deadbeat and doesn't have a use for a full tilt collection agency.

nlminc
03-26-2009, 11:44 PM
I used them once on a $600.00 debt and the customer still did not pay.

capelawncare.com
03-27-2009, 12:03 AM
I used them 3 times If I remember correctly. I believe we got paid 2 out of 3 times.

DanaMac
03-27-2009, 07:47 PM
I used them once on a $600.00 debt and the customer still did not pay.

Same here. Nothing from it.

Grits
03-30-2009, 02:29 AM
Same here. Nothing from it.

I hope you had it reported to the credit bureaus. If the first round of letters does not get them to pay, then report it. Any other business does this. Why not a lawn service company?

SimonCX
04-03-2009, 07:42 PM
I used it twice and nothing, I had them reported to the credit burea and that didnt do anything because the guy bought a new car and house after and this is not soneone who has cash, so peronally I think olddebts is BS. Write it off as loss's and never think about it again.

bobcatnj
04-04-2009, 09:10 AM
i send a letter to the customer stated i will put a claim into the small claims court if payment is not received by this date. seems to work so far

Ramairfreak98ss
04-05-2009, 12:08 PM
I used it twice and nothing, I had them reported to the credit burea and that didnt do anything because the guy bought a new car and house after and this is not soneone who has cash, so peronally I think olddebts is BS. Write it off as loss's and never think about it again.

simon, we have a ton from the past few years alone. So they do sometimes work or its not worth the money? At this point, we have money out there that was not paid on at all, went through small claims court with court orders PLUS interest and still nada. If they cant collect i wont pay out anything else. On some of these accounts, if they can collect 50% for themselves and i only get 50% of the remainder due, id be thrilled.

Ramairfreak98ss
04-05-2009, 04:31 PM
i send a letter to the customer stated i will put a claim into the small claims court if payment is not received by this date. seems to work so far

really 95% dont care, wont pay, dont show up for court, lose by default or judgements, have court orders against them now and it doesnt affect them at all.

Grits
04-07-2009, 12:27 AM
You can only do what you can do. You gotta try though. Just can't lay down and take it.

LouisianaLawnboy
09-15-2010, 12:29 AM
So Grits how did it work out?

PLS-Tx
09-18-2010, 12:25 AM
So Grits how did it work out?

I would like to know also. I have a few deadbeats that I would like to collect from.

nwilson
09-18-2010, 02:44 PM
Go to the county courthouse and file a lien. Here it costs $10.00 to file. If the customer wants a clear title to their property, they will have to clear up the lien. Sometimes nothing will happen unless or until they decide to sell or refinance, but the ROI is good if you can afford to wait. I have done this for the last 20 years, and have over a 95% success rate, plus I get the full $ amount without having to discount services just to collect. If for some reason they sell or refi and the lien doesn't get found, then the title company is responsible for paying.

Find out your local laws, some states require you to re-file every X number of years.

Hope this helps!

dougaustreim
09-18-2010, 02:54 PM
We had one last year (6000.00) didn't pay, kept breaking promises etc. Found out they had all kinds of old debt. Can't figure out how they quulified for a mortgage to buy this 300,000.00 new house.

I filed a lien before the 120 day filing period expired and then also filed suit in small claims court and got a judgement by default. Still nothing happened, so I turned the judgement over to the sheriff for execution. When he showed up at their house to look for unmortgaged property to seize and started looking at the jet skis and snowmobiles in the garage, I had a cashiers check within a couple of hours.

nwilson
09-18-2010, 03:04 PM
dougaustreim

Isn't it amazing how well that works - If they get into your pocket, you need to get them in theirs! Next time if it didn't get paid, go find out who the title company was and demand payment from them. They issue insurance to protect the title of the property. When it comes to collections, I don't worry about using some of these tactics. The ones who get pissed off are only pissed because they were planning on screwing you in the first place and you messed with their plans. Glad to hear of your success!:)

Richard Martin
09-18-2010, 07:23 PM
Next time if it didn't get paid, go find out who the title company was and demand payment from them. They issue insurance to protect the title of the property.

A little addendum to your statement....

They issue insurance to protect the title of the property against the actions and claims against former owners. I've owned a few properties now and none of the title insurance policies covered anything I would do or claims brought against my property due to something I did.

A title insurance company researches the title to the property and guarantees that there are no claims against it when you buy it. No more.