Debt Collection & Judgment Recovery FAQs

Common questions about working with Green, Richard & Trent for debt collection, aged receivables, and judgment recovery support in Fort Wayne, Allen County, and Northeast Indiana.

First, know the debt and the debtor.

  • Is it within the small-claims limit?
  • Is it one debt, a portfolio or ongoing (aka feedlot)?
  • Is there a judgment?
  • Age of the debtor?
  • Do you have personally-identifiable information on the debtor?
  • Is the debt well documented with evidence and/or witnesses?
  • Is the debtor sophisticated and do they have assets?

Armed with the right information you can submit your case to several agencies for an apples-to-apples comparison on rates and fees. But, do not make a determination based on fees alone! Remember, like anything else you get what you pay for; it could mean the difference of collecting only 20% of your debt or it could mean a full recovery.

  • What is the agency’s specialty?
  • What area of collections are they most active in?
  • Choose an agency that is active with debts similar to yours.
  • Choose an agency that’s been in business more than 10 years.
  • Ask what their ‘typical’ process is for a debt like yours.
  • Ask what their average collection ratio is for your type of debt.

Many attorneys practice collection law and do an exceptional job for their clients. However, it is very rare to find an attorney that specializes in collections.

It takes a long time to build a sizeable book of collections business from which to work, and most attorneys simply can’t afford to wait. Because of this, many attorneys will dabble in collections while working other areas of law to build their practice. What this means for the collections client is that their attorney may not keep as close to their case as may be required. Successful collections requires creativity and timing, and the busy attorney may not be able to provide the timing necessary to capture payment from a debtor.

Similarly, most attorneys do not have the sophisticated software and resources in place to efficiently (and continually) skip-trace debtors. As a result, many debtors will make a few payments after the attorney contacts them but then stop. Most debtors will not resume payments without additional persuasion to do so, so the busy attorney needs to remove themself from other commitments so they can find the debtor again and file the legal docs once more. It’s a constant chase for many debtors, and most attorneys simply don’t have the processes in place nor the time.

Agencies have the technology, resources and talent to constantly monitor debtors and apply techniques to recover debt. Agencies don’t have experience with divorce, bankruptcy or family law but they are specialized in aged receivables and are more likely to collect a creditor’s money than most legal firms.

Nothing. You can do it yourself, and if you want to try and then have questions than you are welcome to call us for some guidance. Seriously.

By the time a debt is in default, the relationship between the landlord/tenant or business/customer is strained and the matter is as much about principle as it is about the money owed the creditor. It becomes a will of the egos and emotion overcomes reason. An agency can be a mediator of sorts to determine the facts in each case and propose a logical means of settlement. An agency is more likely to come up with an amicable agreement between the two parties than the two would on their own. When discussions fail and an agency is not able to facilitate a mutual agreement to get the debt paid, the agency is then prepared to escalate efforts legally to obtain and enforce a judgment.

What most plaintiffs assume when they win a judgment is that the courts will compel the defendant to pay. Does not happen. So to collect, you have to enforce the judgment by using several legal tools available to judgment creditors. This requires finding the debtor, finding their place of employment and locating potential assets.

Once you find them, you can subpoena them into court to learn where they live, work, bank and their assets. With this information you can then file garnishments and writs. This typically takes 2-4 months. Once the garnishment order is filed, many of the debtors will have left their place of employment or moved. The process then starts over again beginning with skip tracing.

Any judgment creditor can collect their own debt and enforce their own judgment. But, one must consider the potential time investment that is required to pursue collection. Then there’s the aggravation part. Profession collection agencies have processes and systems in place to constantly monitor the debtor’s activities and move when the timing is right. Collecting a judgment is a function of timing and opportunity.

Yes, we can evaluate the debt case and if it fits our portfolio we will present a fair price for your consideration.

PROS: Immediate cash to the client, no more expenses in collection efforts. Get paid even if debtor becomes uncollectible.
CONS: Face value of debt is discounted based on additional cost and risk of collecting.

As with any industry there are ‘best practices’. Each industry of course is different, but generally speaking:
a) Always engage a professional to draft your forms and/or review. The expense now could save a write-off later.
b) Have clear and concise operational forms; such as application, lease, purchase agreement, purchase orders, sales agreement or invoice.
c) Verify and document the identity of who your working with. If your debt needs processed through the legal system, this is imperative.
d) Make sure it’s documented in your contract who pays for collection costs should the need arise; ie: collection costs and attorney fees.
e) Document a tenant’s move-in and move-out with pictures. Take pictures of a manufactured product following delivery.
f) Document repair/replacement costs accurately and truthfully.

With a properly-documented transaction you can significantly increase the likelihood of collection at a later date. The better likelihood of collection, the more inclined a collection professional will be to provide a lower contingency rate and more of the money returned to you.

As the old saying goes: An ounce of prevention outweighs a pound of cure.

There is no fee unless we collect your money. As each situation is different, we need to assess each collection case to determine if our competitive standard rates apply (25%-50%) or if special circumstances exist which may enable us to further discount our standard rates. Check out our standard rates page here.

The factors we consider:

  • Age of debt
  • Documentation and evidence of claim
  • Prior collection activity
  • Debtor profile
  • Single or multiple case files
  • Dollar amount

No, we are not licensed in all 50 states but we do have a referral network through which coordinated efforts often lead to higher than average success rates. You can submit your debt in our online portal for a no-commitment collection analysis of collectability and estimated fees.

Yes. A judgment does not automatically result in payment. Green, Richard & Trent assists judgment creditors and attorneys with practical post-judgment recovery support, including account review, debtor location research, employment discovery support, garnishment-related workflows, and ongoing collection activity where appropriate.

Need help with an unpaid account or judgment?

Contact Green, Richard & Trent to discuss aged receivables, judgment recovery, or post-judgment collection support.

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