Unparalleled Debt Collection Services: Paul Mackenzie Debt Consultancy

Posted by Paul on January 28th, 2016

Debt collectors are professionals responsible for talking with people on behalf of our clients about paying money that the said persons owe. They are also referred to as account, credit, or bill collectors, the work as a department in the company owed or are a collection agency that a company employs. They can also be contracted by the company to render services for recovery of funds that are overdue. Persons who owe the money are referred to as debtors while the company they owe is referred to as creditors. When a creditor is unable to procure payment for money owed from a debtor y utilizing the normal procedures of billing, the debtors account is forwarded to the debt collector. In some cases, some companies prefer to outsource the debt collection services from an independent agent referred to as a collection agency. Paul Mackenzie debt consultancy is one such agency that specializes in the collection of debts for organizations in diverse businesses.

Third party collection refers to a debt collection performed by a third entity, person, or party who was not initially part of the contract or transaction. Creditors may result to contracting third parties after a failed attempt at collecting the debt. The law limits the functioning of third party debt collectors in several regions across the globe. It is therefore advisable to do your research on the laws in your specific region. Our company’s portfolio covers a wide range of services across different nations and we will readily avail any information you may need to recover debt in your area of interest.

Typically, a third party will start collection by issuing the debtor with letters which the creditor is expected to play a flat fee. The letters sent aim at encouraging the debtor to make full payments to the creditor. If there is debtor does not respond, the creditor forwards the account to an agency. Once the debt is collected, the agency retains a commission while the rest of the sum is sent to the creditor.

Attempts to collect can be via phone calls and letters. Depending on the law that governs the specific State, Paul Mackenzie debt consultancy can file a lawsuit on behalf of the creditor as well as take other necessary measures. If the debtor has a cosigner to the debt or if there is another party that has assumed responsibility for outstanding debts, they may be included by the collection agency in their collection attempts.

Paul

About the Author

Paul
Joined: December 1st, 2015
Articles Posted: 5

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