Q1: Are there any
up front fees when taking on a new client?
No. We perform our recovery
procedures with the policy of “no collection, no fee.” The
only cost to the client is the commission charge when the
money owed is successfully recovered.
Q2: Am I
responsible for the costs of suing the person who owes me
money or is it part of your fee?
Yes. If you elect to sue
the debtor, you will be responsible for the costs of a civil
action against the responsible party. Keep in mind that a
civil action will not proceed without your written consent and
we will work with you to determine if it is the right course
of action given the facts of the case.
Q3: Can the
services fees incurred by CRS be recovered from the debtor?
No. The commission-based
fee collected by CRS upon successful recovery cannot be
charged to the debtor. This is prohibited by law.
Q4: When are you
going to visit the debtor?
We will not visit the
responsible party personally. Our recovery methods are
performed via telephone, mail, and online.
Q5: Can I collect
interest from debtors?
Yes, you can collect
interest from the debtor if your supporting documentation or
contract are properly prepared to support this.
Q6: What’s your
There are numerous factors
that have an effect on our recovery rate. Some factors are age
of account and the quality of personal information provided at
the time of listing. The factor that has the most impact on
the rate of recovery is the responsible party’s attitude
towards the account. If their belief is that they are not
required to make restitution, the opportunity for recovery is
greatly reduced. This is why we at Consolidated Recovery
Systems have developed recovery techniques designed to
motivate the responsible party to acknowledge the debt and
Q7: Is there a way
to improve the collection success rate?
The best way to improve
your recovery success rate is to outsource the aged account in
a timely manner. Statistics compiled by the Department of
Commerce indicate that when an account has an aging of over 90
days, the rate of collectability drops by 0.5% per day. The
sooner the recovery specialists at Consolidated Recovery
Systems apply their expertise, the greater the opportunity for
recovery is enhanced.