Anyone heard of/used Transworld Systems?

Discussion in 'Business Operations' started by srl28, Dec 30, 2009.

  1. srl28

    srl28 LawnSite Bronze Member
    Posts: 1,176

    Transworld systems or services is a big collection agency that you buy into their service and they basically take your slow or non payers and send a series of letters to them and attempt to collect your money. I was contacted by a local seller/agent of their service. They work with many local competitors and had some decent facts and figures to show when I met with the guy who called me. Not sure if their service is worth it but we have a few non-payers and their service seems like one that may work. I'll explain it to people who have never used or heard of them but right now I'm looking for someone who has or does use them for their collections.


    Thanks
     
  2. topsites

    topsites LawnSite Fanatic
    Posts: 21,654

    Sorry I know you probably don't want to hear this but it helped me decide on whether I wanted a collection agency or not,
    and if I did want one then what kind would suit my needs best, there exist many different types of these agencies and I
    believe it is best to be informed of all your choices, here goes.

    The fact is statistically speaking once it goes to collections only about 20% or so of monies owed is ever recovered,
    I don't care who brags about what, I got these figures from my state's civil lawsuit recovery statistics which is a study
    they do every so often concerning how many folks who got sued in our court system ever did pay up... So I know dang
    well if folks who got sued didn't pay, they sure as hell ain't gonna pay on account of some paper tigers showing up lol

    I believe a type of phone call technique could work but it takes a lot of skill to squeeze blood
    out of a turnip and the better the collectors are, the more money they usually want.
    Ain't none of them free, however in terms of effectiveness if they want a lot of money
    then they better be about if they don't collect then nobody gets paid.

    Perhaps another thing to look for is, can and does this collection agency put the debt on the debtor's credit record?

    You might also do some more research on your own.
    Hope that helps
     
    Last edited: Dec 31, 2009
  3. srl28

    srl28 LawnSite Bronze Member
    Posts: 1,176

    Does help somewhat yes thank you. I'm not liking the collection agency thing to be honest. Why cant we just send a bunch of letters stating pretty much the same thing and not loose the percentage of money they would take. Sure our letters may not look as threatening or demandind but if it takes twice as many letters or some phone calls mixed in but we dont loose more of our money then it may be worth it. Think I just sold myself and answered my own questions lol.
     
  4. Mahoney3223

    Mahoney3223 LawnSite Senior Member
    from midwest
    Posts: 995

    I've collected on my own and through collection agencies. Transworld is always calling our office and sending me letters. Their claim to fame is representing TRUGREEN which is a joke in and of itself since TRUGREEN are scam artists charging elderly people $70.00 per app of fert on postage stamp lawn. Collection agencies have worked for me about 60% of the time. I had them get a debt from a guy that was a year past due and get it in full. They typically take 40-50% of what they recover. They will make you sign something that says you won't turn in your delinquent accounts to another agency. I would rather place them with an agency once I've sent out a half dozen letters. I have called before but don't now because most people won't answer the phone when they see its us on the other end. Once they reach collection status it's a crapshoot whether you'll get your money at all, regardless of who collects it.
     

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