Comments Off on When Choosing a Debt Collector an Ounce of Prevention Is Recommended

​The link below is a worst case scenario. This particular collection agency created fake debt. Various government watchdogs have closed down the rouge collection agency and confiscated all assets. At the very least you never want to have anything to do with a collection agency that breaks the law. At most, you don’t want your money taken away for a debt collection agency’s illegal behavior.

Generally, you need to take a few simple precautions to make sure are dealing with a legitimate agency and you are separated from any wrongdoing on their part. None of these precautions are difficult or time consuming and they will separate you from potential problems.

Most collection agencies working on a commission bases are honest and careful to abide by all relevant laws, but the ones who violate the law will never tell you. Here are a few precautions you should consider that will protect your company.

Hold Harmless: There should be a Hold Harmless clause in your contract with the debt collection agency clearly stating that the agency is completely responsible for any errors, omissions or anything else that they cause resulting in litigation on a claim you submit. The last thing you need is to have your collected bills used to pay for litigation having nothing to do with any negligent action from your company.

Cancellation Clause: You need the right to cancel the service at any time, especially if you discover the agency is in trouble for breaking the law. This clause also has the benefit of allowing you to dismiss a bad service with penalty. This should never be a problem with legitimate agencies.

References: Request and contact a few references. Make sure the people you speak to have been clients for years and have not had any negative experiences. It wouldn’t hurt for you to check the reference as well and make sure they are real companies. You can easily do this on the internet by searching for the company name.

By taking these simple steps you will be able to choose a debt collection agency that will make you happy and give you what you need to leave under your terms if they don’t.>


Executive Credit Management is a full-service Debt Collection and Applicant Screening agency with over 30 years’ experience located in New Jersey and we service most U.S. locations. We provide excellent service in the following areas: Employment Screening, Business Screening, and Tenant Screening. Executive Credit Management belongs to a number of Skip Tracing databases and offers services to help locate and confirm the current address of missing debtors. Other services provided are: litigation evaluation on all lawsuit decisions, improvement of the quality of the applicant data, Lawsuit Monitoring, Handling of Debtor Disputes. Executive Credit Management features the best Call Monitoring System in the Debt Collection industry.