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Frequently Asked Questions


Why use a collection agency?

A collection agency specializes in debt recovery. The introduction of a third party in a creditor's internal collection process has proven to be an effective tool in motivating consumers to satisfy financial obligations.

How long have you been in business?

Credit Service Company was established in 1947 and has more than 200 years of combined industry experience.

Do you belong to any industry associations?

We belong to ACA International and the Consumer Data Industry Association (CDIA).

Do you belong to any local organizations?

Yes, the Colorado Springs Chamber of Commerce and the Southern Colorado Better Business Bureau.

What credit repositories do you report to?

We report to the three major credit repositories: Experian, Equifax and Trans-Union.

What do you charge?

Credit Service Company provides collection services on a contingency basis which means we receive payment only when you receive payment. Our fees are individually discussed with each client.

Must I sign a contract?

Our clients sign a service agreement which outlines the scope of work we will provide as well as the rates on which we have agreed. This agreement does not include any specific time frame nor indicate a willingness or commitment on your part to place accounts. If you are a medical services provider, you'll also sign a HIPAA Business Associate Agreement.

Do you require a certain number of accounts to be placed?

There is no minimum number of accounts required.

Is there a limit on the dollar amount placed for collection?

There is no minimum dollar amount required.

When should I turn accounts over for collection?

Your internal policies and procedures should dictate when accounts are listed, however, the earlier you involve your collection agency in the process, the more effective your overall results will be.

Do you accept older accounts?

Yes, but there are time limits for collecting accounts. Also, different states dictate the time period for which legal remedies may be employed. Please contact our representative to discuss your state's specific requirements.

What types of debt can be placed for collection?

Any type or amount of debt can be placed when accompanied by supporting documentation.

Does the age of the debt make it more difficult to collect?

Typically, the older the debt, the harder it is to collect, however, CSC employs the latest in skip tracing and database technology to locate consumers here and abroad.

How long will it take to collect my money?

The process will vary for each account depending on the consumer, the age of the debt, supporting documentation, and various other factors.

What if the debtor disputes the debt?

The FDCPA and various state and federal regulations require that we follow strict guidelines in responding to consumer disputes. When the dispute involves services rendered, our clients are asked to provide supporting documentation to assist in resolution.

Do you pursue collection through litigation?

If we determine such a step to be appropriate, we pursue collection through litigation with our client's permission. For any account already in judgment, we require a transfer of judgment to our agency so that we may continue to pursue the debt through the legal process.

How actively do you pursue accounts that no longer have a good address or phone information?

Our Collection and Skip Tracing Departments have many tools available to locate consumers. These accounts are worked regularly until new information is available.

How can we place accounts for collection?

You may use electronic download, listing sheets or Itemized Statement of Accounts.

If I decide to use your services, how do I get started?

Contact your Credit Service Company sales representative.

What documents must we provide for you to support the debt?

Generally speaking, we require any billing statement, invoice, list of charges, agreement, or contract that supports the debt. You may provide it at the time of initial placement or upon request.

What software does your company use for its collection process?

We use the Flexible Automated Collection System (FACS). In addition, we have other software tools that enhance FACS and contribute to our collectors' productivity and successes.

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Credit Service Company, Inc. is a debt collection agency. This is an attempt to collect a debt. Any information obtained will be used for that purpose.