HOW DO I GET STARTED?
Getting started is simple! Once approved, we will forward you our Terms & Conditions, W-9, and placement form templates so that you can register with our agency and place new claims and accounts as needed.
WHAT DOCUMENTS DO I NEED TO PLACE A DEBT?
We do need to validate the debt before we engage an account with collection activity. This action will guarantee the protection of agency as well as client. Validating documents include, contractual agreements between you the creditor and the consumer. Please include a copy of an invoice for services rendered or a product received.
WHAT ARE YOUR RATES AND FEES?
There are no fees or costs to place accounts with our debt collection agency. We perform on a contingency basis and only charge a fee when we recover funds. As delinquent accounts reach the severity of a collection agency it is common for debtors to immediately resolve their past due accounts. Recovery fees can vary by age, balance, volume and the number of collection agencies an account has been assigned to. Advantage Recovery Group, Inc. will set a fixed rate for any funds recovered. This rate is based on first collection agency placement. There are no fees or costs until a debt is recovered. Please contact us directly to speak with a sales representative to discuss assigning new account placements.
WILL I BE LOCKED INTO A CONTRACT WITH YOUR OFFICE?
No. We do not require you to sign a contractual obligation for a future date. We will earn your business month to month. You can give us 30-days notice at anytime. We have no monthly or annual fees and only charge when we collect funds!
WHAT IS EXPECTED AS A CLIENT?
Advantage Recovery Group, Inc. is seeking to work with clients on a long term basis. We value clients who provide new account placements routinely and account payment information accurately and timely. This will include bankruptcy notification information, dispute validation and the reporting of a debtor's incoming payment made by the debtor or made through a debtor's insurance company, debtor's attorney and/or any third party making a payment to resolve a debt.
HOW OLD CAN A DEBT BE?
Federal and state laws limit how long third-party collection agencies and debt collectors can pursue collection accounts. The Consumer Financial Protection Bureau (CFPB), sets a Statute of Limitations for creditors, third-party collection agencies and debt collectors, governing the time span it is legal to pursue the age of a debt. This Statute of Limitations can vary according to state and federal legislatures. The Florida’s statute of limitations varies for different types of debts. Written contracts such as personal loans, the statute of limitations is five years. For other debts, the statute is shorter. Oral contracts and revolving accounts such as credit cards have a statute of limitations of four years.
We pursue accounts productively through letters and phone calls. If the debtor does not respond, we then report the consumer account to the credit bureaus. If no action has been done by that time, we review the account for legal action. If a client does not wish to pursue legal action we proceed to contact the account holder until the debt is resolved.
WHAT IF AN ACCOUNT IS DISPUTED?
If an account is disputed, we will request the original documents needed to confirm the validity of the debt and forward these documents to the debtor, per The FDCPA. It is important that your company contact is consistently available in the consideration of settlement offers, debtor account validations and general questions regarding any placed account.
WHAT IF I AM PAID ON AN ACCOUNT I HAVE PLACED FOR COLLECTION?
Debtors often pay their original creditors directly after receiving correspondence from a third party debt collection agency. If your office is contacted by a debtor, debtors attorney, insurance company or any third party resolving a debt, please redirect all debtors and third parties for inquiries and payments to our office or website. If a debtor is offering to pay-off an account, we do recommend that you accept the funds. If the debtor is offering payment arrangements, it is best to redirect the debtor to our office so that we may monitor each payment or decline, until the balance is paid in full.
Once an account is placed, all in house collection efforts must cease. If you do accept payment by your debtor, debtor's insurance company or any third party please notify us by e-mail or telephone. Please list the debtor or third party making the payment, date of the payment and amount received. Once received, will forward a receipt for that payment.
HOW CAN I TRACK THE PROGRESS OF MY ACCOUNTS?
We offer a STATUS REPORT for all accounts placed to date. This report will allow you to follow the progress of all debtor accounts placed until they reach the Statute of Limitations. If any time you would like to know the status of any account placed, please e-mail us a STATUS REPORT request and one will be prepared and sent to you within 1-48 hours.
PLEASE CROSS REFERENCE THESE ACCOUNTS WITH ANY PAYMENTS THAT YOU HAVE RECEIVED BY YOUR DEBTOR, DEBTOR'S INSURANCE COMPANY OR ANY THIRD PARTY RESOLVING A DEBT, SO THAT WE MAY UPDATE OUR CREDIT BUREAU, CREDIT REPORTING FILES ACCORDINGLY TO AVOID ANY FAIR DEBT COLLECTION PRACTICES ACT VIOLATIONS.
HOW DOES THE BILLING WORK?
Our system software will calculate all payments received from your office as well as our offices and forward a remittance check or invoice depending on which office has received the greater funds from the previous month. Payment reports will be forwarded to Clients who have received debtor payments from the previous month. Remittance checks and Invoices will be forwarded to your selected company contact.