(Click the arrow to go directly to the question & answer)

	Why use a collection agency?
	How long will it take for you to collect my money?
	What if the debtor disputes the debt or just refuses to pay?
	What debts can be placed for collection?
	How actively do you pursue bad addresses?
	Does the age of the debt make it more difficult to collect?
	How long have you been in business?
	Is there anything I have to do/sign up for before I fill in the Collection Placement Form?
	Do I have to send you the bounced check, or fax you a copy of the check?
	Are there any guarantees of payment?
	I'm interested in placing my collections with you, but your website only allows one placement at a time for submission. Is there a way I could send you a LIST of all the collections to make for my company?
	Does your company charge an annual fee?
	If I decide to use your services, how do we get started?
	What info would you need from me in order to get started?
	Is there a minimum amount someone needs to owe me in order for you to get involved?
	What is your fee?
	Do you have any estimates of average recovery rates that we can expect?
	Do you purchase the debts outright from us or do you charge a percentage of the debt collected?
	What documents do we need to give you for you to support the debt?
	What is your Process for collection?
	Do you have any requirements for us?
	We have a customer who's no longer using our services. He's simply not paying us. His balance is just over $100. Can we use your services for this account?
	I was wondering how long should I wait before I turn my accounts over for collection?
	How many accounts may be sent to collections at once?
	What software does your company use for its collection process?
	Click here for some MAD Stats.

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.

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.

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 may suggest legal action.

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 3 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.

We continue to try to locate debtors for at least 6 months to a year, then we usually keep checking back on the account monthly to see if any files have been updated, such as credit bureau files, new address, employment, so we can locate them.  The account is looked at weekly to make sure every effort has been made to locate the debtor so that we can then try to collect.

Yes, the older a debt is, the harder it is to collect.

MAD Collection Agency was started in January, 1998 and as of January, 2005 MAD Collection Agency, LLC is under new ownership.  The President, Chris J. Cristiano, has been in the credit and collections industry for over 8 years. He also owns a debt purchasing business, National Judgement Recovery, which was started in 1999.  Our staff has extensive collective expertise in debt recovery and skiptracing.  (See STATS for MAD below for more information).

Yes, Please sign and email or fax or mail a copy of our Collection Agreement (Please click here for our contract in MS Word document form) and then once you fill out the form we begin working on the account right away with you.

Yes, fax, email or mail us a copy of the front of the check.

No, we cannot guarantee payment, but will try our best to get your money for you.

Yes, you can send them in Excel or Word, Works or any other program and attach them to an email to us at newaccounts@madagency.com.  You can also mail to the address at the top of this page or fax copies of invoices to (603) 719-0035.

No, we do not charge an annual or monthly fee.

You can fill out the Place an Account Now form here, or fax a copy of the invoices that are due to (603) 719-0035. You may also send large listings of accounts by email in an Excel or Word format to us at newaccounts@madagency.com. A contract will be faxed to you.

Please click here for our contract in Word document form. Please print and complete the form and fax to (603) 719-0035, mail it to the address above or email it to clients@madagency.com.

• 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.

No, we do not have a minimum or maximum limit on accounts placed.

We charge 25% of what is collected.  If a debt is over one year old or under $75.00 the fee is 50%.  If the account has previously been placed with another agency we charge 50%.

You will be charged if a debtor pays us or pays you directly.  If the debtor pays MAD, we keep our commission and send you the balance.  Payments are sent out monthly.  If the debtor pays you, you must advise us IMMEDIATELY and we will invoice you for the commission.  Reporting direct payments is required by law.  Returned merchandise/equipment as payment of claim: 50% of normal fee.

Payment's made directly to you will be invoiced subject to the standard rates. MAD Collection Agency, LLC invoice payment terms are "Payable upon Receipt."

This would depend on the number of accounts placed, the average dollar amount, the age and if they are first or second placements.  If, for example, the accounts are all 90 days old and you have good addresses and phone numbers, the chances of recovery are high.  We have a high recovery rate and have been told by some of our clients that we have collected money for them that other agencies could not.  (See STATS for MAD below for more information.)

A percentage of the debt collected.  No charge if nothing is collected.  We do not currently purchase debts outright from clients.

We would need a copy of a contract if you have one, an invoice or statement that has the amount owed, and the debtor contact information on it, such as address, phone, work phone, email, anything you have.

Once you place an account with us, we send an initial collection letter to the debtor letting them know the account has been placed with us, who the creditor is (you) and how much is owed.  By law we must also let them know that they have 30 days to dispute the debt or request verification.  We wait a few days to be sure they have received this letter, and then we begin to call them.  We cannot demand payment in full or report the debt to the credit bureaus within this 30-day period.  We make 2-3 calls and send out 2 letters in this time frame.  After 30 days, if there has not been a payment or response, we send a demand for payment.  Phone calls become more frequent and are also made in the evenings and on weekends.

The most important requirement we have is that you report to us if a debtor pays you directly.  It is illegal for us to try to continue to collect once they have paid either you or us.  Also, once you place the account with us, you must stop all in-house collection activity, cease sending monthly statements and discontinue the accrual of any interest.

Yes, you can.

You can turn them over whenever you like.  It's totally up to you.

You can send as many as you have.

We use Collect! for Windows, version 8.2 Build 16.2.

MAD STATS

1. We currently have over 500 clients, many of whom place repeat business with us.  Those who do not have been either small businesses that placed one account or someone placing a bad check, etc.  This number changes every day as we are generally getting, at the very least, one new client a day, but usually more.

    

2. Our success percentage depends on the age of the account when it is placed, and if the account is a skip.  Our percentage rate can range from 15-30%, depending on the nature and age of accounts.  We do very well.  The current number of accounts in our inventory is in excess of 12,000, where current delinquents are about 72% and the older delinquents are about 28%.

   The first thing we do when we receive accounts is to send the debtor a letter letting them know the account has been placed with MAD Collection Agency, LLC, who the creditor is, and what the amount due is.  We are also obligated by law to let advise them of their rights, to which they have 30 days to respond with a request for verification of the debt or a written dispute.  We wait a few days beyond that so we are sure they have received this notice and we begin to call.  We do not call every day.  If we do make contact by phone we try to obtain immediate payment by credit card or check by phone.  If we get an answering machine, we will call every other day until we reach them.  If we do not get a return call, we will call the debtor at work and send out more notices.  In the event we cannot secure payment from the debtor, we report his/her delinquent account to the three major credit bureaus:  Experian, Equifax and Trans Union.  Reporting to credit bureaus is an effective tool to expedite payment.  We adhere to the Fair Debt Collection Practices Act and any applicable state collections laws very closely.

    

3. The average collection time to completion is within 60 days on most accounts.  It is longer when we have to skip trace; we have even cleared up accounts within the first 30 days.  Then we do have others that have taken over 6 months!  We try VERY hard to get you as much money as we can as fast as we can.