Collection Agency matters? How to collect dept successfully?

2 Replies

This is my first property and first eviction. 

One of the tenants was sued for non-payment after 2 years of paying with delays but never skipping a payment. Eviction was granted. 3 days before writ of possession (eviction by sherif), COVID quarantine kicked in with maratorium on evictions. If the maratorium is lifted on June 1, 2020 as anticipated, she will ewe 4 months worth of rent. 

My PM will transfer the debt to a collection agency that they work with. 

Questions. Do you know the best collection agency with good dept collection success record? Am I allowed to request my collection agency to take over the one that my PM works with? 

What are overall tips on trying collecting the rent debt? 

Updated 5 months ago

Sorry for a typo in the thread title :)

Why don't you want to work with the collection agency that your PM uses? I'm sure some are better than others, but they all pretty much work the same way: Letters/calls, threaten being sued, turn over to attorney for more letters/calls, file suit and settle/get judgment, various collection attempts (wage garnishment/bank levy/payment plans).

Collection agencies are generally given a certain amount of time to recover the debt. After that the creditor can take it back and give it to another collection agency. How long is up to your contract with them. I'd suggest not more than 6 months as you want there to be an urgency to collect the debt.

Best tip to collect: Let the professionals handle it. Stay out of it. 

Greg, I don't know if that agency is good. I have to take a chance. But if someone can recommend me a known good one and I could go to them instead, why not? This would increase my chances if success.