Clients often ask what types of information we need in order to collect debt for them. While the short answer is, “Everything You’ve Got!” we do want to streamline the collections process as much as possible. Here is a short list of the most important items:
- Debtor Demographics – Contact information including street address, email, phones is essential. For certain types of debt collection, (medical, especially) date of birth is important. You may be using a collection agency because you’ve lost contact with the debtor. Even if their address or phone is no longer valid, send them to the agency because they can use the old information to research, or skiptrace to find current data.
- An invoice or statement that details dates of service, charges and any payments, and that documents the sum you wish your collection agency to collect for you. Your agency may be asked to validate the debt by a consumer, but they will understand the nature of the debt more clearly, which will greatly help.
- Work order, contract or any correspondence agreeing to the service/product.
- A recap of attempts you have made to collect the debt, any disputes you have received, any promises to pay or any special circumstances or issues you feel might be important. When in doubt, send it.
If you receive updated information during the collection process, pass it on to your collection agency. Debt collection is a data driven process, and you never know which information will turn a difficult file.
