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Recommendation of collection agencies?
Thread poster: Josie St-Amour

Josie St-Amour
Canada
Local time: 02:28
English to French
Nov 12, 2008

Do you have any suggestions about collection agencies (preferably located in the US)

I told one of my client that we would use a 3rd party if he didn't pay before the end of this month and I really believe he does not take us seriously.

They even still ask me to do jobs for, but I still have 2007 invoices pending... imagine!

This client is located in the US and I am in Canada, does that create a problem in selecting a collection agency?

Thanks for your help.

Josie St-Amour
Eliksir


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Kevin Fulton
United States
Local time: 02:28
German to English
Can be expensive Nov 12, 2008

I've used Dun & Bradstreet on those rare occasions when I haven't convinced a client that it's in their best interests to pay (I've used them twice in the past 15 years). It's a national firm with the added advantage of being a business rating agency which gives it a psychological advantage.

However, unless you're prepared to give a collection agency a 25 - 30% cut of the amount due, you might want to rely on your own resources to collect the bad debt.


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Josie St-Amour
Canada
Local time: 02:28
English to French
TOPIC STARTER
Merci! Nov 12, 2008

Thank you Kevin,

I don't mind loosing money (IE give a huge percentage) at this point.

I'm tired of being taken for a fool!

It's also my first time since 1996 that I have to go to this point... They still have a week, after that I sending the sharks

Thanks again!

Josie


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Harry Bornemann  Identity Verified
Mexico
English to German
+ ...
Collection agency vs. lawyer Nov 12, 2008

Kevin Fulton wrote:

I've used Dun & Bradstreet on those rare occasions when I haven't convinced a client that it's in their best interests to pay (I've used them twice in the past 15 years). It's a national firm with the added advantage of being a business rating agency which gives it a psychological advantage.

However, unless you're prepared to give a collection agency a 25 - 30% cut of the amount due, you might want to rely on your own resources to collect the bad debt.

This is interesting.
- Did they succeed to recover those 70% for you?
- Did they do anything a lawyer could not do, except working for free in case of failure?
(Lawyers in Germany usually take 10 - 15%, and add it to your invoice to the debtor.)


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Kevin Fulton
United States
Local time: 02:28
German to English
Received prompt results Nov 12, 2008

Harry Bornemann wrote:

- Did they succeed to recover those 70% for you?
- Did they do anything a lawyer could not do, except working for free in case of failure?
(Lawyers in Germany usually take 10 - 15%, and add it to your invoice to the debtor.)


I got a quick recovery both times -- the deadbeats paid in full, D&B got 30% as I recall. At $200/hour for an attorney, I wasn't interested in negotiating a fee limitation. Further, filing a lawsuit in another state can be expensive in the US if the non-payer decides to evade further. Many companies are more afraid of Dun & Bradstreet than an attorney. Collecting attorney's fees in addition to a debt is hard to do without going to court in the US, something that would eat up any recovery.

I also had a couple of instances that were completely noncollectable. One company filed bankruptcy, the other client disappeared (I found out years later that he was in jail).


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Attila Kosik  Identity Verified
Hungary
Local time: 08:28
Member (2008)
English to Hungarian
+ ...
collection agencies pay in advance Nov 13, 2008

As far as I know, collection agencies pay the remaining amount (70% in this case, wow, 30% is quite high, in Hungary, market leaders work with a 9% fee.) in advance, and from there it's their money they're going after.

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