FAQs - Frequently Asked Questions

Q: Am I required to purchase a certain number of accounts up front? What are your signing fees?

A: Our clients are not required to buy a minimum number of accounts or pay any sign-up fees.

Q: What is the minimum length of time we have to sign up to use your services?

A: Our Service Agreement does not require that our clients use us for a minimum period of time. Our clients stay with us year after year because they are pleased with our services, not because they signed a multi-year commitment to do so.

Q: What is the minimum account balance I can place with your agency?

A: We accept account balances as low as $10.00.

Q: What is the minimum number of accounts you will accept to sign up for your services?

A: We do not require a minimum number of accounts. If a business needs us only once, we are happy to help.

Q: Do I have to use your form to submit new accounts for collection?

A: No, we can use forms you are comfortable with as long as we obtain the needed information. Whatever is simplest for you!

Q: At what point will an account I turn over be reported on the consumer credit files?

A: Accounts that are unpaid within 35 days of our initial collection notice are reported to all three of the major credit reporting agencies. Some activities, such as dispute verifications, may delay the reporting but will not stop it all together. There are also service options available that don't involve reporting accounts to the credit file.

Q: If a debtor pays an account already on their credit file, will it be removed?

A: No, but it will be updated to report as a paid collection within 30 days (if not sooner).

Q: Can I have an account removed from my customer’s credit file once it is paid?

A: Typically, no. We have an obligation to the bureaus to report information as long as it is accurate and not too old to be reported. The understanding is that all creditors have the right to know that an account was turned over to a collection agency in order for it to be paid.

Q: How long do accounts remain on the consumer credit files? Can I extend this period by re-listing it in your office after it has aged off?

A: The Fair Credit Reporting Act stipulates that negative information, such as collection accounts, may only remain on the credit files for 7 years from the date of delinquency, not the date it is placed for collection.

Q: How often will I be updated on the activity on my accounts?

A: When you place new accounts, you will be sent an acknowledgment listing each debtor and the balance placed. We ask that you check it for accuracy. If there are payments on the accounts, you will receive a monthly activity statement listing each payment (either made to your office or ours). Clients wishing to have access to this information may sign up for FACS Web, a free, secure internet connection from our web site. This service can also be used to view letters sent, phone calls made, notes on individual accounts, report payments received in your office, place new accounts and run batch reports.

Q: My brother-in-law owes me money on a personal loan. Can you help?

A: Unfortunately, we can’t help with this one. We only take on accounts owed to business accounts, not individuals. You may want to consider small claims court.

Q: I own a company that works only with other businesses, not individuals. Can I turn businesses over to you for collections?

A: Yes. We have a number of commercial clients and will gladly take on business to business accounts.

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