Frequently Asked Questions List
Why use a collection agency?
Many debtors will pay a collection agency even though they never cooperated with
the original creditor. The debtors sometimes realize you are serious or don't want
a damaged credit rating or to go to court, therefore it is sometimes possible for
the agency to collect when the client was not able to.
How long will it take for you to collect my money?
Not all claims are collectible as some debtors may skip, file bankruptcy, become
deceased or just refuse to pay. The age of the debt also plays a part in how long
it may take to collect anything, if the debt is old and/or the debtor requires backup
paperwork, that can prolong any collections.
Does the age of the debt make it more difficult to collect?
Yes, the older a debt is, the harder it is to collect. If the debtor disputes the
debt, we will provide them with an documentation you can provide us to prove the
validity of the debt. If the debtor refuses to pay, we will suggest legal action.
What debts can be placed for collection?
We do not have a minimum dollar amount on claims placed with us. We do ask you only
place debts that have occurred in the last 5 years. On small claims (example $10.00)
we will not spend a lot of time on phone calls and letters if we do not receive
payment fairly quickly.
How long have you been in business?
Alco Collections, Inc. has been serving the gulf south business community since
Does your company charge an annual fee?
No, we do not charge an annual or monthly fee.
What info would you need from me in order to get started?
Your company name, address, fax, phone, and email. The debtor's contact information,
name, address, any contact phone numbers, email etc. Total amount owed and when
it was due.
Is there a minimum amount someone needs to owe me in order for
you to get involved?
No, we do not have a minimum or maximum limit on accounts placed.
Do you belong to any memberships?
Yes, we are a member of the American Collectors Association and the Louisiana Collectors
Do you purchase the debts outright from us or do you charge
a percentage of the debt collected?
A percentage of the debt collected. No charge if nothing is collected.
How long should I wait before I turn my accounts over for collection?
You can turn them over whenever you like. It's totally up to you.
How many accounts may be sent to collections at once?
You can send as many as you have.
What software does your company use for its collection process?
We have custom software that was developed in-house to maximize the rate of return
to our clients.