Is this the first time you or your organization has considered using our firm for collection services? Do you have questions about the collections process or our firm’s procedures? Don’t worry, you’re not alone. Our office has compiled a list of some the most commonly asked questions. If you do not find the answer to your questions, please also feel free to call or email us.
We serve our clients’ collection needs throughout the country, including filing law suits in Michigan, Indiana, and Montana.
The question should not be how soon, but how long. Accounts can start paying in as little as 15 days. However, the pride of Velo Law is not necessarily how soon we can collect (which is a close second) but how long we can collect. Just because the age of an account is 4, 8, even 10+ years old, does not mean that we stop attempting to collect.
Remittance statements are sent to clients on a strict monthly basis. All monies received during the month is accounted for on a detailed payment report and sent to the client.
It is relatively infrequent that a client will have to appear in court.
As a general rule, the older an account becomes the less likely it is to be collectable. Typical accounts should be no more than 120 days delinquent. However our office has a long history of success collecting on accounts that are many years delinquent.
When an account is placed with our office for collections we require sufficient information to identify who the consumer/debtor is, validate the amount owed, and the last known demographic information for the consumer/debtor. The more information provided the greater chance of success.
With our standard contingency fee agreement, there are no upfront costs and no invoices to be paid by your organization.
Depending on the volume of accounts, the status of an account can be just a click away. With web portals, online chat, and a department dedicated to client services, Velo Law strives to be a leader on creditor communication.
There is no dollar amount requirement to turn an account over for collections. Big or small, we collect them all.
All types. Velo Law is a full service creditors’ rights firm. Our portfolio includes medical, banking, credit cards, commercial, utility, government, collection agencies, debt buyers, landlords, chiropractors, veterinary, auto lenders, student loans, and many more!
For accurate balance tracking it is always recommended to direct the consumer to pay Velo Law directly. However, if a creditor does receive a direct payment from a consumer, the creditor should promptly notify Velo Law of the payment to ensure that the funds are not collected twice in error.
Yes, if the account meets the requirements set forth by the credit bureau.
Interested in our collection services?
The process is simple and in just a few short minutes Velo Law can be your third-party collector.