Frequently Asked Questions
Why use an outside collection agency?
Once you have exhausted all internal efforts to collect an account, an outside debt collector is the logical next step. Some consumers will pay a 3rd party even though they neglected to pay you. Sometimes a consumer simply wasn't paying attention to their debts or didn’t believe you when you warned of further action. Many consumers will pay the 3rd party debt collector to avoid further damage to their credit or avoid possible legal action.
What if my customer refuses to pay?
Disputing the validity of a debt is a right granted to your customers under the Fair Debt Collection Practices Act (FDCPA). If a customer disputes the debt, we must provide them with documentation proving it. We may need you to provide us with this documentation. If the customer refuses to pay and we cannot motivate them otherwise, we will consider recommending legal action. If legal action is not advisable, or if you decide you do not want to pursue legal action, we will return the account to you.
How do you pursue new contact info?
The process of finding new addresses or telephone numbers is called ‘Skip Tracing’ and it is a fundamental part of debt collection. If we discover an address or telephone number is incorrect, we immediately turn on our skip tracing program. Our process is highly automated and we use the latest tools, including all effective online databases, Credit Bureaus, and some proprietary tools. On accounts of a certain type and size, we also use social media searches. We perform skip tracing as part of our service to you and it is included in our collection fee.
Does the age of the debt matter?
The age of the debt does not matter, however, we strongly recommend you turn over accounts within the 90-150 day range for the most successful collection. As long as it is within your state’s Statute of Limitations on the enforcement of a debt, we will attempt to collect it. As an account ages, we change tactics, not fees. We get paid only when we collect on the account.
How long have you been in the business?
The CRI Executive Team has performed debt collection recovery service and consulting since 1978.
What will you charge us for your services?
Our collection fee is contingent on our success and will depend on the type and volume of accounts you place with us. During our introductory meeting, we will gather information about you and give you a collection rate quote. Again, no collection, no fee! If we recommend legal action, and you agree, our collection rate may be higher and you may incur additional expenses for litigation costs.
How do we get started?
Contact the Sales Representative in your area (see Locations on Home page). Our experienced team will customize a debt collection solution for you and answer all questions about the process. Onboarding new clients typically takes 30-45 days before debt collection activities begin.
Not sure where to start? Call us today and we'll walk you through the process. 888.960.0132