What happens within 24 hours of placing an account for recovery?<\/h3>\n

Within 24 hours of placing an account, a series of actions are initiated, including sending the first of four letters to the debtor, skip-tracing and investigating the debtor for financial and contact information, and attempts to contact the debtor via phone calls, emails, text messages, faxes, and more. Daily attempts to contact the debtor are made for the first 30 to 60 days.<\/p>\n

What occurs during Phase Two of the Recovery System?<\/h3>\n

In Phase Two, the case is forwarded to one of our affiliated attorneys within the debtor’s jurisdiction. The attorney will send a series of letters on law firm letterhead demanding payment and will also attempt to contact the debtor via telephone.<\/p>\n

What are the recommendations if the possibility of recovery is not likely?<\/h3>\n

If it is determined that the possibility of recovery is not likely after investigating the case and the debtor’s assets, the recommendation is to close the case. In this scenario, you will owe nothing to our firm or the affiliated attorney.<\/p>\n

What are the upfront legal costs if I decide to proceed with litigation?<\/h3>\n

If you decide to proceed with litigation, you will be required to pay upfront legal costs such as court costs and filing fees, which typically range from $600.00 to $700.00 depending on the debtor’s jurisdiction. These fees cover the cost to file the lawsuit for all monies owed.<\/p>\n

What happens if attempts to collect via litigation fail?<\/h3>\n

If attempts to collect via litigation fail, the case will be closed, and you will owe nothing to our firm or the affiliated attorney.<\/p>\n

How are collection rates determined based on the number of claims?<\/h3>\n

Collection rates are competitive and tailored based on the volume of claims. For 1 through 9 claims, rates vary from 30% to 50% of the amount collected depending on the age and amount of the account. For 10 or more claims, rates range from 27% to 50%. Accounts placed with an attorney incur a 50% rate of the amount collected.<\/p>\n","protected":false},"excerpt":{"rendered":"

Securing overdue payments from electronic retail partners can be a complex process, especially when conventional methods fail to yield results. A structured and strategic approach is essential to navigate the intricacies of debt recovery. This article delves into the multifaceted recovery system, assessing the viability of debt recovery, the critical…<\/p>\n","protected":false},"author":1,"featured_media":46230,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"class_list":["post-46231","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-electronics-manufacturing"],"yoast_head":"\n