Frequently
asked questions for creditors
Q:
Our client has advised us to contact you regarding your program,
however we have not received any proposals.
A:
It may take up to 3 weeks before we are able to make a proposal on a new
client.
Q:
Our client says he is paying and we are not receiving any payments.
A:
We do not make any payments; we only negotiate a one-time settlement or a
payment plan that must first be approved by you. Once the negotiations are completed, payments come directly
from the client or a third party trust account, not from our firm.
Q:
We would like to start a payment plan right away and have left
messages with no answer. Why?
A:
The most efficient way to start negotiations is to fax or e-mail a
statement with your information, your client’s information and a
proposal. We do not return
calls on which we have no information.
Q:
What can we do if we need an answer and we are not willing to send
you anything?
A:
Please send a letter with your demands to your client, he or she
should forward that letter to our office.
Q:
We are unable to reach our client and we must communicate with
him or her. Can you help?
A:
We are unable to give you any information regarding our client without his
or her approval. However we
will gladly forward any message that you requested by fax or e-mail.
Q:
Why do you use an automated voice mail system?
A:
We believe that within our industry we are in, verbal negotiations leave too
much room for error. We
strongly believe it is better for all involved to have all proposals and
negotiations written out on paper.
Q:
We have sent a statement and waited the 3 weeks and we still have not
received a proposal. Why?
A:
If we do not initiate a proposal after 3 weeks, most likely we are
negotiating with other creditors that may have a priority over you.
The best way to confirm this is for you to send a proposal to us
with your best offer, we will then accepted or deny it within 72 hours.
That way you have a clear understanding of our intentions.
Q:
How do I know if I am a priority creditor or not? And how do you
determine who is a priority creditor?
A:
If you request a priority check with your proposal and information, we
will respond with the information. We
determine a priority creditor by calculating the ability our client has to
repay his or her debt without filing bankruptcy against the threat a
creditor poses in forcing our client into bankruptcy. Remember our main
mission is to help our client avoid bankruptcy and keep his or her
business operating. This
means if your client owes you a relative small amount, fewer than $5,000
dollars you will probably not be a priority creditor.
On the other hand if you are or have started litigation, chances
are you will be a priority creditor.
Q:
Are you a CCC type company?
A:
No
Q:
We agreed on a payment plan and started receiving payments however
they have stopped.
A:
After we reach an agreement with you in writing, we instruct our client to
send payment directly to you. In some parts of the country we use third
party trust accounts to send and keep track of payments. After the negotiations are completed we are no longer
responsible for keeping track of payments.
This responsibility falls on your client.
Nonetheless, if you send a fax or e-mail with your concern, we will
contact our client or the appropriate trust company and find out why
payments stopped.
Q:
You have made a proposal of a one-time dispersal as a payment in full and
are not willing to start a payment plan, why?
A:
In some cases the only way to keep a company afloat is to liquidate assets
and use them to pay off creditors before other legal options take place.
When this is the case we offer a one-time payment because our
client is at this time unable to keep a payment plan.
You may reject our offer and wait to see if we are able to improve
our client’s balance sheets enough to start a payment plan with you in
the future.
Q:
We received a no call letter from you, why?
A:
We respect the representation of your attorneys, collection
agencies and other parties appointed to represent you.
If you do not respect our representation and keep calling your
client directly, you are violating your client’s wishes of not being
contacted by you.
Q:
You have proposed a payment amount within 72 hours; how certain are we
that this will happen if we agree to your proposal in writing.
A:
It is almost 99% sure we are capable of delivering our offer as promised;
otherwise we would clearly state it in our proposal. For example if we are
unable to verify funds from the client or the client is not using a trust
account, we would state this in our proposal.
Q:
Why must all proposals be accepted in writing?
A:
Unfortunately a few years back we found out the hard way that
verbal acceptance from certain collection agencies where less than
truthful and after payment in full was given; the debt later reappeared
under another collection firm.
Q:
We received a payment with an incorrect account number from one of
the trust companies and we have no way of contacting them.
A:
You may send this question by e-mail or fax and we will forward it to the
appropriate trust company.
If
you have any other questions, please send us an e-mail so that we can add
it to this list for future creditors.
Frequently
asked questions for clients
Q:
I have questions about my program, who do I talk to?
A:
We have a network of financial consultants that hire our
negotiation services and they are responsible for your customer support,
please call the office that signed you up to this program.
Q:
I received a letter from my creditor and I do not have a fax or a scanner,
how can I send it to you?
A:
You may drop the letter off at your local center, they will forward it to
our office or you can fax it using the services of Kinko’s or Office
Depot.
If
you have any other questions, please send us an e-mail so that we can add
it to this list for future clients.
