Russell Collection Agency, Inc. - over 30 years of experience Date below Russell Collection Agency, Inc.
home collection services policies submit an account pay online about RCA contact

Collections Policies and ProceduresOur Collections Policies & Procedures

1. Upon placement of the unpaid accounts for collection, we would send you your choice of an alphabetical or numerical list of debtors, called a "Validation". It would include your account number and individual amount listed. Also, included would be the total number of debtors and the total amount turned over.

2. No less than three letters will be mailed to accounts. With the use of our AutoDial Phone system, telephone calls will be placed to all accounts when the debtor is located. There will be no additional charge for "skip-tracing" and "asset searches".

3. All employees are versed in The Fair Debt Collection Practices Act, abide by those practices, and also attend American Collectors Association training seminars.

4. As members of Experian (formerly TRW), Trans Union and Equifax Credit Bureaus, Russell Collection Agency, Inc. (RCA) maintains an in-house terminal for the three credit bureaus to list accounts and retrieve information. If an account is not paid in sixty days, we will list the account on the debtors Credit Bureau File. Any account with balance of $50.00 and over, or a debtor that owes a combination of accounts $50.00 and over will be listed. This will be done only with your authorization.

5. Our in-house computer system enables us to generate reports for your accounting purposes, recovery analysis, and debtor status. We maintain on-line storage of debtor information for six years.

6. "Paid Directs" (payments made to you after listing with RCA) should be called into our office, faxed, e-mailed or send in on a "paid direct" sheet.

7. In the event we are unable to collect an account, and employment and/or assets have been located, we will forward a "Permission to Sue" form to your office for your signature before commencing any legal action. RCA will advance all court costs involved with legal accounts, such as attorney fees, filing fees, service fees, etc. On large accounts requiring legal services, our commission is negotiable.

8. Monthly statements will include debtors name, your account number and unpaid balance, date paid, amount paid in our office or yours and a breakdown between our fee and our net recovery. Payments will be in date order according to date listed, with a subtotal after each listing date. We also offer the option of "date of service" order. The bottom of the statement will summarize the figures included on the statement.

9. Monthly statements and checks will be sent to you by the 15th of the following month.

10. If a debtor files bankruptcy, RCA will file the appropriate claim with the Bankruptcy Court.

 


Better Business Bureau
ACA International
Experian
Equifax

©2004 Russell Collection Agency, Inc
Toll Free (800) 748-0076