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I am looking for some info regarding standard fees charged by US debt collecting agencies. What is the normal range, if any?
Regards,
Katarzyna
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Kevin Fulton संयुक्त राज्य अमरीका Local time: 03:43 जर्मन से अंग्रेजी
10-30%
May 23, 2005
In my limited experience, the range seems to be between ten and thirty percent of the amount owed. But you only pay if the debt is collected.
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Anthony Tamburro (X) अंग्रेजी से इतालवी + ...
fees vary but there are better ways
May 23, 2005
I have dealt with a debt collection agency in California and the fess vary depending on the amount. 50% of anything they collect if under $1000, 40% if over $1000, but under $2,000 and then %35 for anything else. It also depends on the agency. In my experience, the debt collection agency did not collect my debt (hence I did not have to pay them anything.) There is only so much they can do and if it is a small amount, it will be at the bottom of the pile and never get taken care of.
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I have dealt with a debt collection agency in California and the fess vary depending on the amount. 50% of anything they collect if under $1000, 40% if over $1000, but under $2,000 and then %35 for anything else. It also depends on the agency. In my experience, the debt collection agency did not collect my debt (hence I did not have to pay them anything.) There is only so much they can do and if it is a small amount, it will be at the bottom of the pile and never get taken care of.
Recently, I have had another non-paying client and I was advised by
the same debt collection agency to do the following:
List the company with the Better Business Bureau (this will adversely affect their credit rating)
Check public records to see if their licenses for doing business are current
Send them a letter reminding them to pay within 7-10 days and state that you will take legal steps to recover your money if they do not.
Upon expiry of this date, file a small claim against the client (if amount is under $5000), return it to the court of the county in which you live (in order for them to set a trial date) and then have the local sheriff serve the client with the paperwork.
This will accomplish many things: it will show that you are serious about getting your money, the client will see a sheriff serving them with the paperwork, which will have a trial date on it, and if they then decide to pay it is possible to cancel the trial date. If not, take them to court and see what happens.
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