Steadily increasing medical costs have caused Americans to feel the burden of medical debt more than ever before. The way medical debt affects credit reports—some debt can remain on a report for up to seven years—has congress considering the Medical Debt Relief Act.
The Affiliated Group Blog
“How fast does a collection agency collect?” is on par with the Zen koan, “What is the sound of one hand clapping?” There is no straight answer.
As of July 1, a bill was passed that requires debt buyers in California to have a long and accurate list of account information before debt collection can begin.
Resorting to debt collection is a tough call. You may have time to make a few phone calls each day, but when your debtors continue to remain elusive, you’re better served by devoting your time to new and current business.
Once you have exhausted your other options, find a debt collector that acts with effectiveness, professionalism and integrity. A good collection agency will have a proven track record, will be properly insured and will specialize in collecting from your types of debtors.
Medical debt collection is a sensitive undertaking. Choosing a medical debt collection agency to pursue your debtors requires careful research. Ultimately the agency you partner with will become an extension of your business identity.
Look for these five characteristics before you sign on with a new collection agency:
According to a piece ran in the USA Today this past weekend, more and more states are expanding relations with collection agencies in a move to settle long-overdue court debts.
On Tuesday, The Illinois Appellate Court for the First District reached a verdict in a case that challenges state law requirements for bringing collection lawsuits against consumers.
In today’s day and age, we want things to be as easy as possible. One-click ordering, face-time phone calls, and simple online payments.
The Better Business Bureau, or BBB, has warned consumers of a debt collection scam in which a company calling itself “National Fraud and Investigation Agency” is making fraudulent collections calls.
In Part 3 of our consumer question series, we address the often asked:
Can I Pay the Client Directly?