Collection Agency

2,862 Views | 16 Replies | Last: 2 yr ago by Hanrahan
Tecolote
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8:58p, 9/17/23
AG
Looking for information on an agency or the process to turn an account over to someone to help collect a debt. It's in the tens of thousands so it's not something I just want to write off as bad debt. I'd like to get something out of them.

Anyone had experience working with a reputable collection agency? Any info on one or on the process itself would be greatly appreciated.
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Hanrahan
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9:05p, 9/17/23
AG
They can ignore a collection agency just like they ignore you. If you want to get something from them and they have something to give, best to just sue them. You're going to give up a chunk of anything collection agency gets so might as well use that for attorney fees (though I realize you are throwing good money after bad).
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txaggieacct85
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In reply to Tecolote • 9:24a, 9/18/23
AG
Curious to know how you got to the tens of thousands?
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Tecolote
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In reply to txaggieacct85 • 10:15a, 9/18/23
AG
txaggieacct85 said:
Curious to know how you got to the tens of thousands?
Just one order of our product runs in the five figures.
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Stat Monitor Repairman
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12:31p, 9/18/23
You talking B2B transaction and non-payment for sale of a product?

If that's the case then I'd ask around for a collections firm local as local as possible to everyone involved.
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Reload8098
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In reply to Tecolote • 1:46p, 9/18/23
AG
Tecolote said:
Looking for information on an agency or the process to turn an account over to someone to help collect a debt. It's in the tens of thousands so it's not something I just want to write off as bad debt. I'd like to get something out of them.

Anyone had experience working with a reputable collection agency? Any info on one or on the process itself would be greatly appreciated.
When I was in business for myself, in Memphis, TN, I had two bros who weren't far removed from a Marsellus Wallace type personality. Collections went very well.
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birdman
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1:47p, 9/18/23
Don't most of collection agencies just buy the debt from you? Whether they collect or not, it won't matter to your bottom line. You get paid up front by them.
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Reload8098
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In reply to birdman • 3:48p, 9/18/23
AG
birdman said:
Don't most of collection agencies just buy the debt from you? Whether they collect or not, it won't matter to your bottom line. You get paid up front by them.
That's my experience. If someone owed me a lot and owned their own business, I used an attorney to put a lien on them. That worked best in my experience.
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LOYAL AG
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7:31a, 9/19/23
AG
You need a lawyer. Depending on what the product is and how long it's been since the sale you may be able to protect yourself with liens or other similar means that force them to pay you before they sell their end product. For example a cabinet shop can't legally remove cabinets from a new construction home he installed them in but he can file a lien that forces the title company to withhold funds during close. The timeline to execute is short for things like that so if that's anywhere close to where you are don't wait.
The federal government was never meant to be this powerful.
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MAS444
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8:42a, 9/19/23
AG
Yeah I'd hire a lawyer and work towards a judgment...then collection/enforcement. This is assuming it's against a going concern business and enough money to make worthwhile. Non lawyer collection company isn't going to get anywhere.

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heavily intoxtricated
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2:32p, 9/19/23
If you know the debtor is solvent, just sue them. Assuming you prevail, an award of your attorneys fees would be mandatory.
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DallasAg2
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In reply to heavily intoxtricated • 9:46p, 9/23/23
AG
but even if you win, what makes or ensures they pay?
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Ag92NGranbury
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In reply to DallasAg2 • 6:46a, 9/24/23
AG
DallasAg2 said:
but even if you win, what makes or ensures they pay?
constable
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Hanrahan
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9:57p, 9/24/23
AG
I should add that starting the work to sue them may be enough. If its pretty clear liability and they have something to lose, a demand letter with a copy of the suit that will be filed on X date if not settled in full can be an excellent motivator. That's probably only likely IF it isn't a muddy story and its pretty cut and dry they owe you and there aren't any mitigating factors they want to fight about (ie you sent them the product but they were faulty or installed wrong or whatever.)
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heavily intoxtricated
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In reply to DallasAg2 • 8:19p, 9/26/23
DallasAg2 said:
but even if you win, what makes or ensures they pay?

If you win? A final judgment and a writ of execution issued by the court. The sheriff can levy on anything they own and take as much cash or property as is needed to make you whole, and put them in jail for criminal contempt if they do anything to stop it.
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Tecolote
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In reply to LOYAL AG • 8:26p, 9/26/23
AG
LOYAL AG said:
You need a lawyer. Depending on what the product is and how long it's been since the sale you may be able to protect yourself with liens or other similar means that force them to pay you before they sell their end product. For example a cabinet shop can't legally remove cabinets from a new construction home he installed them in but he can file a lien that forces the title company to withhold funds during close. The timeline to execute is short for things like that so if that's anywhere close to where you are don't wait.
Beautiful - exactly what I was looking for. The customer used our product in a very high end, high value product and his product has a very specific window for sale. A lien on his product would be serious for him. I suspect just an attorney letter with this specified as a course of action will shake some things loose.

And also thanks for the other info from people.
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Hanrahan
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In reply to Tecolote • 8:59p, 9/27/23
AG
Tecolote said:
LOYAL AG said:
You need a lawyer. Depending on what the product is and how long it's been since the sale you may be able to protect yourself with liens or other similar means that force them to pay you before they sell their end product. For example a cabinet shop can't legally remove cabinets from a new construction home he installed them in but he can file a lien that forces the title company to withhold funds during close. The timeline to execute is short for things like that so if that's anywhere close to where you are don't wait.
Beautiful - exactly what I was looking for. The customer used our product in a very high end, high value product and his product has a very specific window for sale. A lien on his product would be serious for him. I suspect just an attorney letter with this specified as a course of action will shake some things loose.

And also thanks for the other info from people.
never mind. I was thinking about it wrong
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