Why use a collection agency?
Debtors will often pay a collection agency even though they never cooperated with the original creditor, mainly because collection agencies typically increase the psychological anxiety associated with a debt. Second, the debtor will understand that the creditor is serious about collecting their money. Also, many debtors are wary of the impact that a collection account can have on their credit score.
What are your overall collection success rates?
There are several variables that will influence recovery rates: the age of the debt is arguably the most important factor. The older the debt is, the lower the chance of recovery. Other important variables include: industry, account balance, documentation, demographics and type of debt (commercial/medical/NSF checks, etc.).
How quickly will you collect my money?
After accounts are entered and within the first 24 hours the first collection letter is sent out. The amount of time varies widely from account to account. Some accounts will pay on first contact while others take years to resolve.
Communication is very important to me.
What type of reporting do you offer?
With our system you have 24/7 access to see exactly where your accounts are. There are several report tools as well. Some banks are now lacking DDA reports and our system provides an instant snap shot on the fly.
What if my debtor disputes the debt or simply refuses to pay?
CBA's employees have to pass a test on the FDCPA and FDRA before they start collection calls. CBA follows the FDCPA and FDRA laws and regulations strictly when dealing with disputed debts. If an account is disputed we will provide proof of the debt during the validation period. After sending the required proof of debt we continue our collection efforts. We will send the account to our legal department if it meets a certain suit worthy criteria.
How important is the age of a debt?
The age of a delinquent account is one of the biggest factors in determining whether or not a debt gets paid. The older the debt, the harder it is to collect. Research on the collectability of delinquent accounts clearly shows that the most advantageous time to enlist the services of a collection agency is within 60-90 days of the invoice due date. Incorporating this strategy will help ensure maximum recoveries with the least cost to your company.
How long have you been in business?
CBA has been in business since 1990. We have grown from servicing the middle Georiga area to now serving the southeast United States.
How do I become a client?
It is as simple as a phone call. Call us and we will gather the needed information. If you have internet we can send you an e-mail while on the phone. With a simple click of the button the process begins. If you don't have internet we can send you a fax and provide you with the needed documentation.
I'm interested in placing multiple accounts. Do I have to fill out one placement form at a time or can I place in mass?
Our system will have the ability for batch uploads in the future.
Does your company charge an annual fee?
There is no annual fee for our services.
If I decide to use your services, how do I get started?
Simply visit our Contact Us page!
To speak with some one now, call toll free: 1-866-949-4213