Frequently Asked Questions

  1. What is the up front cost to setup an account with your company?
    None! Once we have you in our system as a client, all you have to do is start sending accounts for us to collect! All of our clients are setup on a competitive contingency fee basis which means if we can't collect the debt, you don't pay us a dime. We don't get paid unless YOU get paid!
  2. Do you send out monthly or quarterly statements?
    Every month you will receive a statement accompanying your check, breaking down which consumer paid, the date they paid, and how much they paid. Additionally, you have the power of our Client Portal at your fingertips! Anytime you would like information on any account you have placed for collections, simply log in to the Client Portal and see real time status', payment reports, and inventory levels, all at the touch of a button!
  3. How far back can you go to collect debts?
    The Statute of Limitations is different for each state, but generally speaking debts older than six or seven years are considered out of statute. However, just because they are out of statute doesn't mean they are not able to be collected! Statute simply prevents a credit from being able to filing suit or reporting the account to the consumer's credit report, but calls and letters are still able to be sent!
  4. I have accounts that have pretty small balances. What is the the minimum dollar amount I can place for collections?
    You can place any balance size with Negotium! Every account goes through our high-recovery proven process, whether it is $20 or $20,000!
  5. I don't like to spend time doing admin things. How much time do I have to spend dealing with your invoices and stuff?
    Because our contingency fee is deducted right out of the amount paid to our company, you won't have to worry about dealing with any invoices from us! The only time you have to spend is the amount of time it takes you to drive to the bank and cash your monthly check!
  6. What all do I need to provide to you when I place an account for collections?
    The collections industry is one of the most regulated industries in the United States. The law requires that we have to be able to validate any and all debts we are attempting to collect. To that end, there are some items we must have in order to collect the debt. The items we need may vary depending on the type of debt you are looking to place. We will walk you through everything you will need.
  7. What do I do if a consumer calls me after I have sent them to collections?
    All you have to do is give them our number! We have a trained and dedicated staff devoted to communicating with your consumers. Let us deal with them and free up your time running your business!
  8. I just got a mailed payment from a consumer I already placed for collections. What do I do?
    Don't worry, this is an easy situation to fix! Just contact our office and let us know about the payment. In most cases, we will just have you cash the payment yourself and we'll take care of the accounting aspect on our end. We try to make things as easy as possible for you whenever possible!

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