1. Can’t make it to the GIE+EXPO 2017?
    LawnSite brings the trade show floor to your fingertips with our new GIE+EXPO 2017 Sneak Peek video series debuting now in the Lawn Mowing forum.

    Dismiss Notice

Collection Agency

Discussion in 'Business Operations' started by mikefromny, Jan 22, 2007.

  1. mikefromny

    mikefromny LawnSite Member
    Messages: 224

    anybody ever have to use there to collect as little as a couple hundred bucks ? if so which ones and what is the fee/percentage they take, thanks!
  2. toac

    toac LawnSite Senior Member
    Messages: 349

    I've never used one, but I hear good things about olddebts.com
  3. Bill S

    Bill S LawnSite Member
    Messages: 184

    I use a company out of PA called JKM credit services. Their rates are competitive and the lady I deal with is very persistant. While I haven't had to use them for a couple years now (thankfully) I wouldn't hesitate to call them in a moments notice. Contact me and I will give you their info.

  4. milsaps118

    milsaps118 LawnSite Senior Member
    Messages: 562

    I use a company called Transworld Systems. They are a huge nation wide firm that has one of the highest collection rates. They get paid on a retainer, meaning you pay an up front fee. They have different packages you can buy into depending on the level of service you want. The package I have is 25 collections that are good for 2 years for $495.00. It works out great if you use all your allowable collections. In my case if I use all 25, that equates to $20 per collection. They don't get any other fees besides the initial cost. Check out their website, just search Transworld Systems. Good luck.
  5. mikefromny

    mikefromny LawnSite Member
    Messages: 224

  6. batdaddy044

    batdaddy044 LawnSite Member
    Messages: 24

    For smaller debts , sometimes it's more economical (and time efficient), to
    simply write them off as "bad debt" , at tax time .
  7. group501

    group501 LawnSite Member
    Messages: 174

    American Agencies also does a good job with collections. We have used them for 3 years and are very happy with them. Collections are broken into two phases:

    Phase 1 collections consist of a series of 4 letters mailed with American Agencies collections letterhead. About 80% of the accounts that we submitted to collections are paid after receiving the collections letters. The cost for phase 1 collections is about $10.00 per account and are pre purchased in blocks of (30?). The letters direct the customer to pay you directly.

    Phase 2 collections are enforced after phase 1 has not worked. During phase 2 collections, American Agencies calls the customer and attempts to collect the debt. Phase 2 collections are collected by the collection agency and they subsequently pay you 60% of all revenues that they collect on the debt. If phase 2 fails then a report of the unpaid debt is made to the appropriate credit reporting agencies.

    American Agencies main offices are located in California. Their web site is: www.cachquest.net .
  8. group501

    group501 LawnSite Member
    Messages: 174

  9. paponte

    paponte LawnSite Silver Member
    Messages: 2,366

    I have a local company that charges me 25%. But they will do what they have to do. This guy will knock on doors to get paid. :)
  10. mikefromny

    mikefromny LawnSite Member
    Messages: 224

    anybody use olddebts.com or anyother ones like this?

Share This Page