Creditors Rights Law
Accounts are delinquent when they have not been paid in accordance with your terms. Early contacts will give you the maximum chance of return. The most productive efforts take place during the period between 3090 days past due. Beyond 90 days, recovery percentages start dropping dramatically. If an account is delinquent, you are probably not the only creditor demanding payment. Usually the creditor that acts promptly gets paid and those that wait, hoping to save the agency fee, wind up filing a claim in the Bankruptcy Court. Turn over an account to a professional agency once you feel your own reasonable collection efforts are not productive.