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.
This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified creditors rights lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact an attorney in your area from our directory to discuss your specific legal situation.
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