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 and a notice that the debt will be reported if payment or arrangements are not made within 5 days.
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, do not send out monthly statements or continue to add any interest. We have a customer who's no longer using our services. He's simply not paying us.