When you hire a business commercial collection agency to collect from deadbeats that refuse to pay their debts on past-due accounts, it is important to know where the collection agency is keeping the money that they are collecting in your name. When a commercial collection agency only has one business bank account, if something happens and they are sued, the money that belongs to you inside of that account can be given to a person who wins a law suit against the collection agency.
It is important to hire a collection agency that has the money that they collect for you saved in a trust account that has your name on it on their paperwork. This protects your part of their bank account from ever being attached by a third-party that is mad at the collection agency on an unrelated issue. With the nature of collection agencies causing bad feelings with many people on a regular basis, you must make sure that your money is protected from all possible harms while it is in their care.
{ 0 comments… add one now }