What type of business uses a collection agency?

A common question people ask about collection agencies is what type of business utilizes them? Some larger corporations have an in-house collection agency but will also hire an outside collection agency to handle the accounts. Small businesses can benefit from a collection agency by having the collection agency work on a contingency fee basis. A contingency fee basis means the collection agency would only get paid on accounts that they collected on. Small businesses get hit hardest when debtors become delinquent on their accounts. Small businesses rely on all of their clients to send in payment so that they can stay in business.

Larger businesses also benefit from hiring a collection agency. An example of a larger business that would benefit from utilizing a collection agency is fitness center chains. Businesses that have locations all over the country should hire a national collection agency that is licensed and bonded in all 50 states. Collection agencies can help them to collect monthly membership fees from delinquent customers.

Another type of business that utilizes collection agencies are hospitals and medical practices. Hospitals and medical practices often have issues with patients making late payments or not making payments at all. This can take up a lot of time for the office workers. A collection agency can save time and money by following up with patients, resubmitting insurance and working with the patients to get paid. Whether you own a lawn service company, you are a landlord, retail; wholesale, doctor’s office or work in any other industry, utilizing a collection agency can be beneficial to your business.

Medical Debt Collection USA

Don't forget about a debt or give up in pursuing the payment on a debt due to the complexity of medical debt. Let us help you through guidance, & specific consultation services regarding medical debt collection options. Medical debt is bad for your financial health & ought to be treated with the best care obtainable. nationalmanagement.net can give you quality services in recovering unpaid medical debts.

Collecting debts can be hard in case of medical billing. Medical debt collection is complex because of the number of agencies often involved including insurance firms, Medicare, Medicaid, & the patient. For the average doctor's office or dental facility, hiring a full staff of collection professionals may be necessary, but can be costly of an option to think about. This is where professional debt collectors can help, those specializing in medical debts.

A range of medical facilities often need the help of collections professionals. This includes:

• Hospitals
• Clinics
• Physicians
• Dentists
• Chiropractors
• Urgent Care facilities
• Ambulatory & EMS facilities

They also often need a range of collection account types. Workers compensation claims, patient responsibility claims & accounts, insurance follow up & pre-collection help is obtainable. Each type of account requires a one-of-a-kind set of practices to get the debts paid.


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National Asset Management, LLC
P.O. Box 840
Moon Twp, PA 15108

Things that can Hurt your Credit Score

Your credit score might be a small number, but it makes serious impact on your financial life, if you don’t maintain it. It is important to keep your credit score healthy now than have it repaired later on. There are many things that can hurt your credit score. Here is a list of some of the actions, you must stay away to protect your credit score-

• Making late payments are the worst offences that can hurt your credit score. Your payment history covers 35% of your credit score. Consistently being late in your payments, will have serious impact on your credit score. So, to preserve your credit score, pay your credit bills on
  time.


• Not paying or neglecting your credit cards bills is much worse than paying less. Each month
  you miss your payments, you are one month closer to having the account charged off. If you miss your payments by a few weeks and still manages to pay your bills up to date are going to fare better than those who have 90 days of late payments.


• Having your account charged off by the creditors, when you don’t pay your credit card bills at all. This account status can make the worst affect on your credit score.


• Creditors often use third-party debt collectors to collect the money you owe to them. They might send your account to collections before or after charging it off. This will show that the creditor tried hard but failed and hired a collection agency to collect money from you.


• Defaulting on a loan is similar to credit card charge-off. A default depicts that you have not fulfilled your end of the loan contract.


• Filing bankruptcy will seriously damage your credit score. Seek to alternatives, like credit counselling, before filing bankruptcy.


• Lagging behind on your mortgage payments will lead your creditor to foreclose on your home. This late payments will affect your credit score and it will become hard to get approval for future mortgage loans.


• A judgement against you shows that you not only neglected your bills, but the court had to get involved to make you pay the debt. Though a paid judgement is better than an unpaid one,both hurts your credit score.


• Your level of debt which is measured by credit utilization is another important part of your credit score. Having high credit card balances as compared to your credit limit increases your credit utilization and decreases your credit score.


• Maxing out your credit cards makes your credit utilization 100%, which is least ideal for your credit score.


• Closing credit cards that still have balances drops your credit limit to $0 while your balances remain. This shows that you’ve maxed out your credit card, causing your score to drop.


• Closing your old credit cards makes your credit history seem shorter than it really is. Longer credit histories are better than shorter as 15% of your credit score is the length of your credit history.


• Applying for several credit cards or loans within a short period of time will cause your credit score to drop.

State Statutes of Limitations for Debt Collection - US

If you are being hounded by a liability collector for a liability that is year’s vintage, the first inquiry you should have is, what is the statute of limitations for this kind of liability in my state?

Below journal shows the number of years of the statute of limitations in each U.S. state, as of Jan 2007.

State	Oral Agreements	Written Contracts ( including auto loans and installment type loans)	Promissory Notes	Open Accounts (includes credit cards)
Alabama	6	6	6	3
Alaska	6	6	6	6
Arizona	3	6	5	3
Arkansas	3	5	6	3
California	2	4	4	4
Colorado	6	6	6	6
Connecticut	3	6	6	6
Delaware	3	3	6	3
District of Columbia	3	3	3	3
Florida	4	5	5	4
Georgia	4	6	6	4
Hawaii	6	6	6	6
Idaho	4	5	10	4
Illinois	5	10	6	5
Indiana	6	10	10	6
Iowa	5	10	5	5
Kansas	3	5	5	3
Kentucky	5	15	15	5
Louisiana	10	10	10	3
Maine	6	6	6	6
Maryland	3	3	6	3
Massachusetts	6	6	6	6
Michigan	6	6	6	6
Minnesota	6	6	6	6
Mississippi	3	3	3	3
Missouri	5	10	10	5
Montana	5	8	8	5
Nebraska	4	5	6	4
Nevada	4	6	3	4
New Hampshire	3	3	6	3
New Jersey	6	6	6	6
New Mexico	4	6	6	4
New York	6	6	6	6
North Carolina	3	3	5	3
North Dakota	6	6	6	6
Ohio	6	15	15	?
Oklahoma	3	5	5	3
Oregon	6	6	6	6
Pennsylvania	4	6	4	6
Rhode Island	15	15	10	10
South Carolina	10	10	3	3
South Dakota	6	6	6	6
Tennessee	6	6	6	6
Texas	4	4	4	4
Utah	4	6	6	4
Vermont	6	6	5	6
Virginia	3	5	6	3
Virgin Islands	3	3	3	3
Washington	3	6	6	3
West Virginia	5	10	6	5
Wisconsin	6	6	10	6
Wyoming	8	10	10	8

This table of State Statutes of Limitations for Debt Collection is present for informational purposes only - for legal advice on Collection Agency contact National Asset Management.

Can a department shop take me to court or garnish my salaries with out trading my liability to a Collection agency?

It is significant to realise that collections bureaus manage not have to “buy” your liability from the creditor to work it. In most situations a creditor (department shop in your case) will charter a collections agency to pursue up with you on the delinquent liability (i.e. “collect”).

The creditor furthermore has a right to take you to court over the debt. More often then not the judgment will be supportive the creditor supplied you really scrounged the capital and not ever repaid. Once judgment passed the creditor will be adept to retrieve their capital by a broad kind of entails encompassing salary garnishing. It is furthermore probable that the lawful charges affiliated will become debtor’s blame and will be supplemented to your debt.

It is habitually simpler and better to trial and determination the liability with the creditor before it gets escalated. Most creditors are very flexible when you are eager to cooperate. They are probable to offer numerous choices encompassing repayment plans, towns, charge waivers, concern decreases etc. The key is enthusiasm and cooperation; escalation will only outcome in more annoyance and higher cost.

Do i dissolved my IT Company due to debts or go for myself as a bankruptcy

Last year, i started a LTD company. I have two good clients which were paying huge amount for their projects. So i take a loan to complete the projects within 3 months my client went bust. Our bank account went £9000 overdrawn without an overdraft. Now the debt agency is chasing me for the money. Do i declare myself as bankruptcy? Will declaring bankruptcy cause problem to my company?
I was thinking that i appoint my father as new director of the company and declare myself as a bankrupt.

In Texas, does collector take me to court?

I am form Texas and I have taken a vehicle previous year. Somehow I could not pay the installment. My question is that Under Texas law what cans the creditor do to me and my vehicle to collect the deficiency?

If I return my vehicle to voluntarily does they contact me for the paying any deficiency?

Debt Story : Posted by: John

Recording Phone Conversation with Debt Collectors

There are many harassing and abusive tactics a debt collector may undertake to refund the amount they have given. If you find the debt collector using illegal techniques and violating the Fair Debt Collection Practices Act in the dealings, you might collect proofs which will act as evidence against them or to turn the matter over to your State Attorney General’s Office. This can be done by using a mini recorder, or your computer, a microphone, the telephone listening adapter or a recording software and record the conversation with the debt collector.

While recording the conversation make sure that you mention the date, and the person’s name you are speaking with and to which collection agency he works for. This kind of evidences will prove successful and will go a long way in court making sure that you are not mistreated. This tactic often puts the person you are speaking with on the defensive. You are advised to use such tactic when the situation worsens after the conversation and the collector has broken the law.

Regardless of some state, it is illegal to record conversation without the permission of both parties. Twelve states have passed the law and made it illegal to record a phone conversation without all parties consent. While the other 38 states has declared legal to record a conversation as long as one party gives consent to the conversation.

Receiving liability notes from collection agency

My child has not dwelled with me for two years, but still values my address for correspondence. I have opened notes in her title pertaining to some liabilities amounting to apprx £9000. I hold posting the notes back to mailer, asserting "no longer at this address" I would like to understand if, if it arrives to "Baliff" stage, if they can grab my items, as there is not anything in my dwelling that pertains to him. Is liability is associated to me furthermore as i am his father? If my child will not yield liability then who will be to blame for his debt? How can i eliminate my address from the record? Can I contact National Asset Management for my help!

Bankruptcy help?

my borrowing document was assessed as "discharged" after 11 months. Does this signify i am free from any liabilities was obliged before the bankruptcy alignment processed in feb 2007 and the only ones i am to blame for giving are any accounts legitimate after this date?

How manage i proceed about getting a credentials of release without giving court cost for one. I have discovered to clear off vintage anecdotes adhered to my bankruptcy and for them to be assessed as "satisfied" other than "open" on my borrowing document, the creditors are joyous to close them off as long as i provide this where other ones have currently shut them off without question. I did not obtain one of these at the time or would have kept it. It appears a disgrace to be out of pouch giving for this when all of the data they require is shown on my borrowing document and i am joyous to publish this off for them, some of which have acknowledged exception from 1 who appear to be simple ackward easily as i am no longer shown on any insolvency sites.

How should I handle a debt collection agency chasing my daughters for debt from last three years?

Debt Story : Posted by: Tracey Bulpitt

My daughter is being pestered by a collection agency for a debt of her Ex husband. They could not find her Ex husband so they are calling her to pay debt of her Ex- husband. She has told Collection agency many times that she has not take any dept nor she has any roll on the debt so please stop calling me. She also told that where her ex-husband lives but instead of contacting him they are calling her to pay the debt.

Debt collection are hassling her and she is getting sick day by day due to bailiff’s call…

Do you think your fair debt rights are being violated by an abusive debt collector?

If you think that fair debt rights are being violated by an abusive debt collector. Than contact State and federal fair debt laws and report for harassing, misleading, dishonest or unfair debt collection practices.

These laws provide that victims of debt collector abuse can recover cash compensation from the collectors, and require the collectors to pay all your legal fees.For more detail log on site National Asset Management Agency

My wife and i own house, but i am being made bankrupt

Debt Story : Posted by: Tim

My house is owned jointly by me and my wife, few month ago due to loss in business i get bankrupted. Now collection agency is seizing my property to pay creditors.

My question is that does my wife negotiate to buy half of the house from the official receiver?
If my wife cannot afford the payment which they want to sell the house then what happens?

Although! I have asked other debt solutions agency to protect my house.

I have winding-up my company assets and property to pay bills

Debt Story : Posted by: Tom

I have small business of iron parts. I have signed a deal of 15 million dollar. To fulfill all requirements i borrow money to buy machine and hire employee. All was going well but in August I was diagnosed with end stage kidney failure, i was totally upset my life was totally change i have to dialysis 3 times a week and waiting for a transplant. Doctor has suggested not to do work, now its eight months and i have lost my business completely.

Now the situation is that I have to winding-up my company assets and property to pay bills of machine, employee salary and so on.

The problem is not just stopping here - I have bought my home by taking loan and from last eight month I do not pay any installment. Now Debt collector is calling for money, i am now live in fear of losing my home too to give the due amount.

In the mean time my friend suggests to settle down your debt by contacting National Asset Management agency.

I have already pay my bill

Debt Story : Posted by: Kim

I bought a luxury car from Credit in 2006, few months ago i returned the car voluntarily but i forget to have written that i do not have any payment left. Now they are calling me again and again for the payment. I phoned to enquire about what due are showing. They have make a lots of charges which i have to pay but i already have debt going on how can i manage the new own which i have already pay. Please help me how can i manage with this people. no one is hearing my word that i have already pay my bill.

Is bankrupt is good for me or should i pay nothing and let them to take me to court

Debt Story : Posted by: Tom Bremner

I do not know where to go and what to do i get stuck. I do not have any income support i have a narcolepsy so i could not do job. I have used all my credit now i am totally finishes i have to pay medical bill too.. i need help to pay off my debts i try to short my debts myself by working in factory and earn on daily bases. But after few days they have fired me due to my sleeping problem.

What could i do? Is bankrupt is good for me or should i pay nothing and let them to take me to court

My company is going into liquidation. My question is that am i liable for the overdraft?

I have a small farm in USA now it’s going into liquidation and the bank account has an unpaid overdraft of $30,935.

The problem is that debt collection agency chasing me for the amount claiming me of which i was a guarantor. Now the bank makes it clear to me then i have to pay as i was a guarantor on the overdraft.

I have put this problem to National Asset management agency and hopping to settle down all the legal issue as soon as possible.

Individual Voluntary Arrangement help?

Hello i was reading about debt help and i found this blog. So i send my problem to the blog owner to publish it so that i can get debt advice.

My husband buys a house in 2007 with a mortgage and secured loan against it. House worth is $2,000,000. At that time all the process was going well but after few months we have loss in business due to this we could not afford to pay the mortgage and secured loan. So we are deciding to sell our house.

One of my friend told by about "Individual Voluntary Arrangement" can anyone help me what exactly it is?