Judgment Collection Specialists For NY & NJ
Call 1-866-497-1006

FAQs

Questions and Answers – FAQs

The following list contains the most frequently asked questions and answers about our collection agency and its services. If you have a question not answered here and would like to speak to a collections specialist, don’t hesitate to call our office during business hours at 1-866-497-1006

Table of Contents

NOTE: Each question is a link to the answer below.

  1. How long have you been in business and who do you collect for?
  2. How long should I wait before turning my accounts over for collection?
  3. What is your collection fee?
  4. Are there any other fees I may incur during the collection process?
  5. What important information must I know when my accounts are placed for collection?
  6. What documentation is needed to place a collection claim?
  7. Are there minimum and maximum dollar limits to place a collection claim?
  8. Can you provide references?
  9. How old can a debt be to be considered for collection?
  10. How do I get started?
  11. How much does this cost?
  12. Will I have to sign a contract?
  13. Is there a charge to place my claim(s)?
  14. Can you locate someone if they move?
  15. If you collect my money, when do I receive it?
  16. How does the collection process work?
  17. What if the debtor disputes the debt?
  18. I have collection accounts placed with another agency. Can I place them with yours too?
  19. I have several claims to place for collections. Is there a way I could send you a list instead?
  20. Are there any guarantees you will collect?
  21. How fast will my money be collected?
  22. Can you seize assets, take money from bank accounts or repossess vehicles?
  23. What happens if the debtor paid me just after I placed a claim with your collection agency? Do I still have to pay your fee?
  24. Will you provide an update on my claims regularly?
  25. Do you use my contact information in any way?

How long have you been in business and who do you collect for?
Your Collection Solution has been in business since 1998. Your Collection Solution, LLC specializes in NY, NYC and NJ debt collection. As an outsourced resource, our collection agency serves as a low cost collection department for any size business and creditor. You will find a list of business types on our home page.

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How long should I wait before turning my accounts over for collection?
If an account is 90 to 120 days delinquent, you should initiate placement with our agency as soon as possible. The faster you place your account, the greater the chances of collection.

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What is your collection fee?

  • If there’s no collection, there’s no fee. We do not require up-front fees or retainers.
  • When a claim is delinquent 120 days or less, our fee is 28% of what is collected.
  • When a claim is over 120 days delinquent, our fee is 33% of what is collected. This applies to any pre-judgment claim.
  • If you place a claim with a judgment, or a judgment is obtained with the assistance of Your Collection Solution, LLC, our collection fee is 40% of what is collected.
  • Our Client Agreement is required before placing a claim. This form outlines all details listed herein.

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Are there any other expenses I may incur during the collection process?
If a claim needs to be litigated in small claims court or with the help of an attorney, or if a judgment needs to be enforced, you are required to pay costs and fees associated. Please note you will be contacted first to discuss ANY additional expenses. It remains your choice to proceed with law suit. These costs and fees may include, but are not limited to Court filing fees, Service of Process fees, post-judgment execution fees, attorney fees or costs and certified mail. For more information, contact us and speak to a collection specialist.

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What important information must I know when my accounts are placed for collection?
Once you’ve placed the claim with our agency, you are required to stop any and all in-house collection activity, mailings and verbal communication with the debtor. If the debtor contacts you, simply state our agency is handling the matter and refer them to our office. Should you receive payment, you are bound by the Client Agreement contract to report the payment to our office. We will invoice you for our fee.

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What documentation is needed to place a collection claim?
Provide copies of invoices, contracts, statements, bounced checks, judgments, letters or emails. Include any other documentation showing proof of the debt and attempts to communicate with the debtor. We also suggest you prepare a history of any collection attempts made and include responses received, if any.

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Are there minimum and maximum dollar limits to place a collection claim?
We require that your claim(s) be a minimum of $100 dollars. There are no maximum dollar limits.

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Can you provide references?
Yes, contact our office for a list of references from current clients. You may also want to check out our Collection Testimonials page to read what some of our clients had to say about our service.

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How old can a debt be to be considered for collection?
The Statute of Limitations for each State determines at what point a claim is too old to file a law suit. This doesn’t mean the debt cannot be collected, it just means there are collection limitations after a certain period of time.

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How do I get started?
Click on the Get Started! Place a Claim link found throughout the Web site and follow the simple instructions provided there. We require a Client Agreement to be signed and on file before collection work begins. Read and sign the Client Agreement and fax or mail it with your collection claims and other proof of debt documentation.

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How much does this cost?
There is no fee to place a collection claim and no up-front fee or retainer. We work on a contingency basis. If we do not collect, there is no collection fee.

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Will I have to sign some sort of contract or agreement?
Yes, a Client Agreement contract is required before collection work begins. The Client Agreement is necessary to disclose the responsibilities of both the agency and the client. However, our Client Agreement does not lock you into any time or exclusivity commitments. You are free to cease collection attempts at will as long as YCS is not collecting payments, enforcing a judgment or negotiating a settlement with the debtor.

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Is there a charge to place my claim(s)?
No. There is only a fee if we collect.

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Can you locate someone if they move?
Yes, it is possible. We utilize several top level search databases and resources which provide various types of information needed to locate someone. If initial attempts are unsuccessful, future searches are scheduled for a later date when new information may be reported.

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If you collect my money, when do I receive it?
All moneys collected on behalf of clients are remitted at the end of each month. Funds are held in an escrow account.

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How does the collection process work?
Once a Client Agreement is on file, we will open a debtor file for each claim placed and begin by mailing a 30-day demand letter to each debtor listed on the claim. If there are two names on an account, both will receive a demand letter. The debtor is contacted one week after the initial demand letter is mailed. We then try to work out payment arrangements. If the debtor avoids attempts to resolve and/or refuses to pay, the next step is consideration for legal action with client approval. With the client’s approval, a judgment may be pursued against the debtor if a judgment is awarded. We then search for assets and employment. Payment may be received through an income execution or bank levy where laws allow. To learn more, see Tour the Collection Process for a generalized outline of the process.

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What if the debtor disputes the debt?
Our collection agency will provide the debtor with the documentation you provided to us when you placed your claim. The debtor will inform us that they are disputing the claim and then we respond with proof of the debt. We will attempt to obtain the details of the dispute from the debtor so that you have an opportunity to respond to the dispute.

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I have collection accounts placed with another agency. Can I place them with yours too?
YCS does not accept claims once they have been with another agency however we will happily accept your new claims.

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I have several claims to place for collection. How do I send them?
Make copies of ourĀ  Collection Placement form or save it to your desktop; fill the form out and fax, e-mail it or mail it. Please include all supporting documentation when you send the claims.

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Are there any guarantees you will collect?
No, we cannot guarantee collection. However our collection agency only gets paid if we are successful so you are assured every attempt will be made to collect the debt.

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How fast will my money be collected?
It is important to understand not all debts are collected immediately. Some debtors may not pay until they are threatened with legal action, others may never pay. Many debtors pay when they need to make a major purchase and need to clean up their credit report.

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Can you seize assets, take money from bank accounts or repossess vehicles?
This may be possible at times when enforcing a judgment where state law allows. Read our Judgment Collection page for more details or call our office and speak with a collection specialist about your situation.

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What happens if the debtor paid me just after I placed a claim with your collection agency? Do I still have to pay your fee?
Yes, you are obligated by our Client Agreement to pay our fee, should the debtor make payment directly to you or to our office once a claim is placed. We will invoice you for the amount due to us for our services.

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Will you provide an update on my claims regularly?
Yes we will. Status reports are generated each quarter. If more frequent reporting is required, arrangements can be made.

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Do you use my contact information in any way?
Your Collection Solution, LLC will not collect or distribute personal information, business information, or email addresses of those who communicate with us via e-mail or claim placements. Client permission is requested in writing before we use your name for marketing purposes. Visit our Privacy Statement page for more information.

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Hours of operation:
Monday – Friday 8:00am-4:30pm, Eastern Standard Time

In NY or NJ call toll free 1-866-497-1006. In Rochester NY area dial 585-385-1046
(Fax) 1-585-385-1074

Your Collection Solution, LLC
P.O. Box 25201
Rochester, NY 14625