Collection

Harry Strausser Interviewed

2011-09-28T19:46:00.002-05:00

Past ACA President and Pennsylvania collection Agency Owner Harry Strausser III was quoted recently for an AP national story while in Atlantic City for a collection convention. See below:

_____________

ATLANTIC CITY, N.J. -- These are the best of times, and the worst of times, for America's debt collectors.

The prolonged economic turmoil has created more opportunity than ever for the profession, even while making it harder than ever to get folks to pay up.

A gathering of debt collectors in Atlantic City this week found many willing to work out payment plans with debtors in which payments of as little as $5 or $10 a month are acceptable.

"It's harder to collect than ever because people are in genuine hardship," said Harry Strausser III, president of the Mid-Atlantic Collectors Association, who has his own collection agency in Bloomsburg, Pa. "With unemployment the way it is and the terrible foreclosures, people are having a harder time making ends meet. There's more potential business, and we're having a tougher time trying to collect it."

Also growing is the number of consumer complaints about debt collectors. The Federal Trade Commission says it receives more complaints from consumers about debt collectors than any other industry. Last year, it received 140,036 such complaints, up from 119,609 in 2009.

"They called me three or four times a day, every day, asking all kinds of personal questions, like am I married, do I have custody of my kids, can my kids pay this bill?" Scott Tillman III, a 53-year-old musician from Oroville, Calif., told The Associated Press in a telephone interview. He said he was harassed over an auto lease for a vehicle he returned to a dealership 15 years ago.

Businesses nationwide placed $150 billion worth of debt with collection agencies last year, Strausser said. Of that total, agencies were able to collect about $40 billion, a figure that has held roughly steady for the past three years.

There are 4,100 debt collection agencies in the United States, employing nearly 450,000 people, and the industry expects to grow by as much as 26 percent over the next three years.

The industry averages about 20 percent recovery on delinquent debt, Strausser said. Several decades ago, it averaged 30 percent.

Top of Form

Bottom of Form

Sometimes that amount is shared on a contingency basis with the business to which a consumer owes money. Other times, a debt collection agency will buy debt from businesses at a discount and keep whatever it can pry from the debtor. That part of the industry has grown significantly in recent years, collectors said.

The most common consumer complaints against debt collectors involved three big no-nos under federal law: calling a debtor repeatedly or constantly; misrepresenting the amount or status of a debt; and failing to notify consumers of their rights in writing.

About half the complaints dealt with repeated calls from collectors. More than 20,000 people said debt collectors falsely threatened to have them arrested or seize their property, and more than 17,500 said collectors used profanity or abusive language on the phone. Nearly 4,200 consumers said a collector threatened them with violence if they did not pay up.

"The way collection agencies try to get money from people who have less of it is to get more aggressive," said Sergei Lemberg, a Connecticut attorney who represents debtors who feel harassed. "We get cases every day from people who have collection agencies calling them six, seven, 10 times a day. My own mother doesn't call me three times a day."

Tillman, one of Lemberg's clients, told the agency calling him that he did not owe the debt on the vehicle he had already returned. Under the law, when a consumer disputes a debt, the agency is supposed to investigate the situation and if the debt is not owed, halt further collection efforts.

"Then the threats started," he said. "They said, `We're going to take it out of your Social Security.' Because I'm black, they had someone who was black call me as if they knew me, saying, `Hey Scotty, man, when you gon' give us our money, man?' One day one of them called and said, `We're coming down there and we're going to put your ass in jail and take you for everything you've got."

Kevin McNeill, 26, of Modesto, Calif., also got threatening calls for a $500 debt he incurred after a divorce. He was willing to pay it in two monthly installments but said the collector insisted on everything up front.

"I get this call at work, and this guy is just going off, calling me a thief, a criminal, and saying that the sheriff's office would be there in 10 minutes to arrest me in front of my co-workers," he told the AP by telephone. "Then he threatened to call the owner of the company and say, `Do you know you have a thief working in your finance department?'"

Collectors interviewed this week in Atlantic City said such tactics, aside from being illegal, just don't work.

"Some agencies are into the intimidating side," said Jeff Kotula, a manager with a Scranton, Pa., collection agency who trains others in acceptable techniques. "They try to scare people into paying. We don't do that. We try to explain to people we're helping them get their credit rating back."

Yet, collection agencies are quick to point out that unpaid debt is never truly written off: Someone, somewhere, has to eat it. An industry-sponsored study says debt collectors save the average U.S. household $354 a year in costs it otherwise would have been charged if businesses raised prices to cover losses instead of recovering it through a collection agency.

"Say you own a small flower shop, and someone doesn't pay a $3,000 bill," Strausser said. "That's a big hit for a small business. So next year, you charge more for deliveries or add $5 to the price of an arrangement to try to make up for that lost money."

Kotula said most collection agencies will offer a debtor the option to slowly pay off the debt_ as little as $5 or $10 a month in some cases. Some agencies will also offer settlements in which some of the outstanding debt can be forgiven if the rest is paid up front.

"We have a lot of people who want to pay; they just don't know how they can do it and still be able to live their lives," said Hope Palmer, a Pennsylvania collections manager. "The most difficult situation is the person who has been unemployed for several years and can't find a job and can't pay their bills. That's most of our calls."

In those cases, she said, a collector is trained to look for alternatives: Do you have relatives who can help you pay? Do you have a 401(k) account you can tap, or stock you can sell?

"We won't turn away anything," Palmer said. "There is always a way to work something out."

Kotula said his agency never technically gives up on an unpaid debt.

"You never want to count it out," he said. "People's situations can change in three months. They may get a job and they can pay $25 a month."

NJ Collection Agency was established in 1968

2011-06-18T21:53:00.012-05:00

===

BCA Financial Services was originally founded by former Crosse & Blackwell sales manager Robert E. Debold in 1968. He began the Bloomfield, NJ located business as a franchisee of Claims & Credit Examiners.

Actually this picture was of the front entry of the Feigenspan Brewery in Newark, NJ.

Family relative Maurice Debold was quite an artist in that he painted the logos, etc. on the beer delivery trucks.

But we digress...

Current managing Partner John Debold joined BCA Financial Services in September of 1973 when it was known as Claims & Credit Examiners. He was instrumental in the purchase in 1973 of a small, nearly defunct Sussex County collection agency known as Better Credit Associates, [also] known by the acronym “BCA”. Better Credit Associates swallowed up Claims & Credit Examiners and formed one company owned by Robert E. Debold. Four years later, in 1977 Robert Debold made John a full partner.

Demi Moore was a Bill Collector

2010-12-28T13:57:00.010-05:00

According to the Internet Movie Database or IMDB now it seems that even Demi Moore, the actress worked for a collection agency. We'll have to find out more, like what agency she worked for and are they still, in fact, in business today.

***

We formerly spoke of Abe Lincoln, and U.S. Grant . Now Demi Moore. Who's next?

(ABC Photo from Comcast.net)

Patients slow to pay doctor in the year 1778

2010-12-24T17:06:00.027-05:00

It seems that patients had difficulty paying the doctor at least as far back as 232 years ago.

Check out this recently found article from Kean University's Liberty Hall Magazine dated Fall 2007. (Kean U. is the administrator of Liberty Hall's (Historic Site) property and artifacts.

Dr. David Ramsey was a physician in Charleston, SC. He was a confidant of Liberty Hall's 18th century patriot-resident John Kean.

In the article (excerpt attached) it describes Dr. Ramsey's relationship with John Kean. Their letters to each other had many personal observations, including this one... (click to see clearly).

If you are a resident of New Jersey, or you are visiting New Jersey (Union, NJ specifically--near Newark) you are urged to visit this wonderful historic site. The house is beautiful and the grounds equally so. It's dripping with Revolutionary, American and New Jersey history. If you forget the website, just remember New Jersey's Kean University, I'm sure one could access it from there.

---

At least "slow pay" doesn't mean "non-pay." BCA Financial Services, a NJ Collection Agency, would like to have helped Dr. Ramsey--but we've only been around since 1968.

---

Happy Christmas!

Know your Collection Agency Rights...from a Collection Agency!

2010-12-10T09:50:00.006-05:00

----

Most of the time a person gets "abused" or upset over a collection agency's tactics, it's from a disreputable or very mismanaged collection agency. A legitimate agency will properly train their employees in all aspects of the Federal "FDCPA" or Fair Debt Collection Practices Act. This act was passed by the US Congress in the late 1970's.

BCA Financial Services and their managing director was there when this act was passed and has watched it evolve (via court cases and FTC intrepretations) over the years.

Over 3000 collection agencies in the United States belong to ACA International. This very respected trade association maintains a website to help individuals know their rights. It's called "Ask Doctor Debt."

You can also find Ask Doctor Debt by going to a collection agency's wesbite. Go to BCA Financial Services Consumer Page. There you'll find the link.

Try it.

Merry Christmas.

Abraham Lincoln Collection Agent

2010-10-23T20:57:00.006-05:00

Rather than specializing, Lincoln practiced general law, and so we see him taking on both civil and criminal cases, with breaches of contract and patent infringements sharing space with bootlegging, assault, even murder cases. Much of his work concerned debt collection, for which Lincoln was known well beyond Illinois, and these cases provide a unique window on nineteenth-century business. Lincoln also went out on the road twice yearly to try cases in the state’s circuit courts; this edition documents some of these tours in detail.

The cases represented paint a vivid picture of America in the decades leading up to the Civil War. The nation's surging expansion is reflected in cases over land speculation, property disputes, construction, and, of course, the railroads, whose interests are a consistent theme throughout. Other trials touch on domestic law, the Black Laws, even the California gold rush.

We thank the University of Virginia Press for the information above.
The Papers of Abraham Lincoln:Legal Documents and Cases
Daniel W. Stowell, EditorSusan Krause, Assistant EditorJohn A. Lupton, Assistant EditorStacy Pratt McDermott, Assistant EditorChristopher A. Schnell, Assistant EditorDennis E. Suttles, Assistant EditorKelley B. Clausing, Research AssociateR. Dan Monroe, NHPRC Editing Fellow

Antique Collection Agency Tactic

2010-07-19T19:52:00.020-05:00

Here's a good one that was definitely pre 1978 (the year the federal government enacted the Fair Debt Collection Practices Act, PL 95-109).

Can you tell what makes it illegal?

Here's another oldie from 1938... It wasn't a collection tactic, but rather an ad by Seagram whiskey to show responsible drinking. So basically, pay your bills first, then drink!

Thanks to Matt McGrath of Canada for giving his students this print many years ago.

Debt Collectors of Yore

2010-04-25T14:22:00.019-05:00

The year was 1619 and the debt collectors in Sulgrave, Northhamptonshire, England were pressuring George Washington's Grandfather's Uncle to surrender the family land holdings. Click on picture below.

Phone contact was at a minimun however, in that the telephone wouldn't be patented for another 257 years necessitating the debt collectors to institute the now outmoded "personal visit."

Delivered was possibly a parchment document demanding either payment or debtor's prison. Debtor's prison was not abolished until the Debtor's Act of 1869 so it would have been in full force at this time. Author Charles Dickens dad went to debtor's prison. America stopped the practice in 1833.

In ancient Egypt, some people became slaves as punishment for a crime or for going into debt.

Click to Enlarge Picture

c. Evermore Gallery of American Art

Ulysses S. Grant - Bill Collector

2010-02-25T20:36:00.030-05:00

On our collection agency website BCA Financial Services, we previously told you that Abraham Lincoln was a collection agent. Recently we learned that President/General Ulysses S. Grant was a bill collector as well*.

Ulysses S. Grant
(born Hiram Ulysses Grant) (April 27, 1822 - July 23, 1885) was the eighteenth President of the United States of America from 1869 to 1877.

***

Between The Wars

The Mexican-American War concluded on February 2, 1848. On August 22, 1848, Grant married Julia Boggs Dent (1826-1902), the daughter of a slave owner, and together, they had four children. Grant remained in the army and was moved to several different posts. He was sent to Fort Vancouver in the Washington Territory in 1853, where he served as quartermaster of the 4th Infantry Regiment. . In 1854, Grant was promoted to captain, one of only 50 still on active duty, and assigned to command Company F, 4th Infantry, at Fort Humboldt, California. Grant abruptly resigned from the Army with little advance notice on July 31, 1854, offering no explanation for his decision. Rumors persisted in the Army for years that his commanding officer, Bvt. Lt. Col. Robert C. Buchanan, found him drunk on duty as a pay officer and offered him the choice between resignation or court-martial. However, the War Department stated, "Nothing stands against his good name."

***

At age 32, Grant struggled through seven lean years. From 1854 to 1858, he labored on a family farm near St. Louis, Missouri, using slaves owned by his father-in-law, but it did not prosper. Grant owned one slave, whom he set free in 1859, and his wife owned four slaves. From 1858-1859 he was a bill collector in St. Louis. Failing at everything, he asked his father for a job, and in 1860 was made an assistant in the leather shop owned by his father in Galena, Illinois. Grant & Perkins sold harnesses, saddles, and other leather goods and purchased hides from farmers in the prosperous Galena area.

***

* numerous sources, noteworthy: Ken Burns Civil War, PBS 1990.

"Keep Calm and Carry On"

2010-01-12T20:11:00.007-05:00

This was a propaganda poster slogan from the British government in 1939 just before the outbreak of war with Germany. This hopefully managed to convey a special attitude of the mind during a most difficult time.

In the past 36 years in the collection business, I remember there have been ups and downs, economy-wise. The 1970’s were difficult resulting in runaway inflation. Remember President Ford’s WIN button?, “Whip Inflation Now.” In the 1980’s we had inflation that resulted in 15% interest rates. The 90’s were a roller coaster culminating with the dot-com bubble. Now the first decade of the otherwise rocky 2000’s is drawing to a close.

There are always optimists, those seeing the glass half-full, as well as the pessimists, where the sky is about to fall at any moment. Somewhere a medium must be found to accept the vagaries of all this business tumult.

Judging the past, where both Abraham Lincoln and Henry Ford had to file bankruptcy and in foreign countries where Galileo filed bankruptcy as well, people usually land on their feet as businesspeople if they don’t let discouragement cloud our thinking. The terrain may not always look the same, but we will figure out a way to turn find the opening to sell or provide a product or service that others need—if we believe in that product or service.

The businesses that survive in the coming years must accept the fact that the nostalgia that always feels so pleasant and reminds us of the past, may not be worth dwelling on for any length of time. Nostalgia may be great for your family life, but most business doesn’t tolerate it well (even antiques shops have computers for inventory or online sales.) Think how your business has changed in the last few years, and then think about how it will change again in the next few. I don’t believe the folks at Google think about yesterday much.

Change can be against the businessperson’s grain, but change is what will make the new generation (not chronologically, mind you) look to your product or service. They’ll see signs of innovation, or al least a person willing to change, with new ideas, to meet the times.

***
It’s a real nuisance to pinch pennies or watch your dimes when times are good. When times are bad, and make no mistake, they are now--you must stay very lean, business-wise. Watch your overhead, cut out what was a luxury in good times but now may not be needed to perform your business well, but be ready to change, it can be fun to see tomorrow will bring from the seeds you’ve sown today.

ACA International Membership 1980

2009-12-19T20:46:00.009-05:00

***

Here's an oldie from the BCA Financial Services archive. (We're good at that as we support the Evermore Gallery of American Art)

While BCA Financial Services was accepted as members into the American Collectors Association (as it was then known) in 1977, we can't seem to locate the missing membership certificates--but we will eventually. Today they're known as ACA International, The Association of Credit and Collection Professionals.

This one is from membership in 1980-1981. They're a fine organization located in Minneapolis, Minn., a rather cold location in the winter months we suppose. Visit the Association's Website, there's good advice for businesses and consumers alike.

180 Degrees Around Weehawken, New Jersey

2009-10-31T21:50:00.012-05:00

It's October 31, 2009. Time to take a break from the business of collecting.

New Jersey seems to have an infinite amount of beautiful vistas. Try this one, for example: Weehawken, NJ (the town that hosted the Burr-Hamilton duel)

You're moving your head from left to right 180 degrees. Click on a picture and you're standing in Weehawken, NJ and looking at Manhattan Island, NY.

Pennsylvania Community Association Statute of Limitations

2009-09-14T09:47:00.005-05:00

Pennsylvania Community Associations: Careful of Short Statute of Limitations!

Pennsylvania Statute of Limitations - Assessed Fees of Planned Communities Act - Statute of Limitations is a rule mandated by the Commonwealth of Pennsylvania which defines limits to the amount of time in which a suit can be filed.68 Pa C.S.A. ~5315(e) explains that the statute of limitations for actions with respect to assessed fees collected by Planned Communities is limited to three years from the date the assessment becomes payable.

~~~

This rule differs from some other types of contract actions to collect debts where the statute of limitations is four years.

Community Association Collections - Experienced Collections From BCA Financial Services Bloomfield, New Jersey (NJ) 07003

2009-04-23T02:22:00.007-05:00

BCA Financial Services - Collection Agency for :

*** Community Association Collections ***

Unpaid Dues…A Free Ride?

Unpaid dues and assessments are a constant burden on property owners associations and a major headache for managers and board members.

The property owner who expects a free ride by ignoring his financial obligation to the association is, for all practical purposes, passing his debt on to his neighbors. This is the net effect, for the unpaid bill must be absorbed and paid by the (increased) dues on the paying members.

If allowed to go unchecked, this problem will result in a severe financial crunch as well as widespread irritation among the paying members.

Paying members demand and deserve nothing less than equitable sharing of the burden.

In my personal experience as a professional collection agent, I was asked to attend an open board meeting a few years ago and the opening remark from a member in attendance was “What are you doing about the members who aren’t paying?”

The answer, of course, should be “...prompt and continuing attention to the slow payers and professional help on the seriously delinquent who are not coming forward with an effort to pay.”

Such professional help may be 1) a professional collection agency, experienced in this area of collection or 2) an attorney. Bear in mind that an attorney’s actions (especially, if not specializing in this field), may be confined to writing a letter and suing for judgment. Also, consider that an attorney’s overhead, being greater than that of a collection agency, necessitates fees and advanced costs greater than that of a collection agency.

While admitting to prejudice in this regard, I believe a collection agent on the other hand will familiarize himself and his staff with the constitution and by-laws and can rationally and patiently refute most of the standard excuses offered by delinquent members. An agency can also, if networked with the American Collectors Association, pursue and even refer for suit, any debtor anywhere in the country. And, most important, an agency will work on a contingent fee basis (no collection-no fee).

Bear in mind, however, that time is every debtor’s ally. The longer a debtor is allowed to ignore a debt, the more factors against successful collection pile up; such as marital status, health or income problems, changes of address (usually leaving no forwarding address) and, of course, the mental attitude that comes from having gotten way with it for so long.

The delinquent member who is brought current promptly, will probably remain as a paying member versus the long delinquent member whose obligation has piled up beyond his willingness or ability to pay and who thus becomes a drop out who completely defaults and has to be sued.

John Debold
Managing Partner BCA Financial Services

Collection Lawsuit Update 2009 - NY - NJ - PA

2009-02-27T12:34:00.012-05:00

2009 UPDATE--When the lawsuit is necessary to collect your money
-------------------------------------------------------
Since these are difficult economic times, we’ve heard recently from clients who want to employ various degrees of compassion for consumer debtors.

While your debtor may not have the ready cash, or any cash to pay your bill immediately, a plan should nonetheless be forthcoming. If it is not and you hear nothing from your debtor, you must consider a lawsuit to secure a Judgment (in District Court-NOT “Small Claims”) to protect your interest. More on why Small Claims court is not recommended later.

If they own a home, your court Judgment will have more weight than simply a credit bureau “derogatory.” Your docketed judgment will be a Judicial lien against that particular parcel (or any they may own in the state the judgment was taken) should they sell or become deceased.

After a Judgment is awarded, the Court Officer will “Levy” Herewith an explanation (although these can vary a bit from state to state.)

“Active Levy” – this is a court ordered levy that will always take assets away from the debtor. Usually these are assets that are cash (in a bank) or can easily be conveyed to cash, i.e. valuable artwork, collector car. Usually a judge will not order the sale of a debtor’s home to pay a debt, unless there are extenuating “fraud-type” or possible criminal circumstances. It can, in fact, happen for a debt, but it can be time consuming, unreliable and costly. Welfare benefits, Social Security benefits, SSI, Veterans' benefits or unemployment benefits cannot be levied upon. In New Jersey the only item that can’t be levied, other than the above benefits is clothing.

“Constructive Levy” – This is a “softer” levy. Assets are encumbered (liened) but are not sold. Your Judgment is a lien against, for instance an elderly debtor’s home and they will not have to pay during their lifetime (or until the home is sold, transferred, etc.). Judgments sit for 20 years in NY and NJ and can be renewed. Pennsylvania at 5 years, is much shorter, but can be renewed.
---------------------------------
If you don’t know of your debtor’s assets: While once again varying from state to state, the attorney can file an “Information Subpoena” or [obtain an] “Order for Supplemental Subpoena” (Discovery) to ask as many questions of the debtor regarding his assets until he is satisfied. If these subpoenas are ignored, our attorneys (if the claim warrants) can issue a Warrant of Arrest.

“Small Claims Court”: It is not recommended to use Small Claims Court for your collection suits as Small Claims Court may present problems for businesses. Other than the fact that SCC has the historical feeling of a consumer’s court, the judge must invoke Rules of Evidence and Rules of Procedure, which you would be unfamiliar with as a lay person.

Garnishment of a debtor’s wages (not in Pennsylvania): If place of business is known, or can be found, the Court Officer will be directed to the debtor’s employer to have funds deducted from his paycheck (provided he earns more than $127.50 per week in NJ).

See Also Older Blog: "To Collect Money Suit Should Not Be Your First Choice"

Creditors: Obtain Information Before Transaction!

2008-11-11T10:23:00.005-05:00

BCA Financial Services Collection Agency Clients:

Start off 2009 on the right foot:

This past year at BCA Financial Services Collection Agency, we have seen literally hundreds of claims come in to our office with very little or no “back-up” information.Remember the last time you obtained a loan at a bank? You sat there and filled out numerous boxes of information so detailed that they can tell you the maiden name of your mother.

When you extend credit at your business, it’s not unlike a bank loan. While you may not need as much information as the above bank, you’ll need all the basics—plus: TRADE STYLE for business credit transactions and PLACE OF EMPLOYMENT for consumer transactions.

Protect your business – obtain information when giving credit.

Trade Publication Collection Agency

2008-09-03T09:45:00.007-05:00

Trade Magazine collections are not unfamiliar to BCA Financial Services. They take legwork, diligence and “reach.” Often our clients are in one state, say New York, and their customers (advertisers) are in another, sometimes very distant, state.

A delinquent debtor in say, Utah will understand the cumbersome nature trying to collect your money with so many miles between you.

In the worst-case scenario, BCA Financial Services can sue in the debtor’s state, using a bonded attorney from one of the five attorney referral services to which we subscribe. We say worst case because a debtor company may put up a challenge, however specious, and either delay the case or require an appearance by our client.

Hopefully the case will be successfully collected by our office eliminating the need for this.

Forwarding for suit has to be evaluated by our clients and BCA Financial on a case-by-case basis. The amount, jurisdiction’s court costs and debtor’s viability will be a factor in our mutual decision.

Visit BCA's Web Site often for valuable collection information.

BCA Financial Services Has Been Accepted Into the American Collectors Association!

2008-08-29T23:45:00.009-05:00

BCA Financial Services , a New Jersey Bonded Collection Agency, has again been accepted as a member of the American Collectors Association for 2008-2009.

This will be their 31st year of membership in that most august and prestigious of businesss organizations.

Here is their new certificate.

Pennsylvania Community Associations: Careful of Short Statute of Limitations!

2008-05-27T18:49:00.010-05:00

Pennsylvania Statute of Limitations - Assessed Fees of Planned Communities

A Statute of Limitations is a rule mandated by the Commonwealth of Pennsylvania which defines limits to the amount of thime in which a suit can be filed.

68 Pa C.S.A. ~5315(e) explains that the statute of limitations for actions with respect to assessed fees collected by Planned Communities is limited to three years from the date the assessment becomes payable.

This rule differs from some other types of contract actions to collect debts where the statute of limitations is four years.

Tantamount To Getting Invoices Paid...

2007-10-02T08:16:00.001-05:00

...Surely is proper billing procedures.

If these aren't followed, there may be a confusion, or delay on the part of the customer (it doesn't take much!)

Mail invoices promptly: The sooner you get invoices out, the sooner payments will come in. Some small businesses send invoices out monthly. This is a mistake because it can delay some receivables by two or three weeks. Instead, try to send invoices within a day or two of delivery of your product or completion of a project.

Bill the right person: Sending a bill to the wrong person can push payment off as much as 30 or 60 days as it gets routed around a company. Talk directly with your client and ask who should receive your bill if the bill is going to someone other than your day-to-day contact, call and introduce yourself before you put the bill in the mail. If you’re sending a bill to your client’s bookkeeper or accounting department, copy your client as well and follow with a phone call.

Follow up: It is easy for a bookkeeper to ignore an invoice if there are no follow-up phone calls to check on its status. A quick check-in can confirm that your invoice was received and is being processed. If payment does not arrive by the due date, check in with the bookkeeper again to determine when the invoice will be paid and follow up weekly until you receive the money.

aca international - Member Since 1977

However, if you don't...there's always: BCA Financial Services - Since 1968.

End of Summer 2007: Money Collection Drought Soon Over.

2007-08-21T20:47:00.000-05:00

Summertime can be the doldrums for the collection agency business (as well as your own company's internal collection efforts).

Debtors have been vacationing or otherwise preoccupied with summer goings-on.

The end is near!

While summer may be officially over about September 21st, Labor Day puts everyone back near their homes and jobs. Enough to pay attention to your calls and letters demanding your money.

So get back to work and keep your company healthy with cash-flow.

Meanwhile...

A BCA Financial Services rallying tip:

This past year at BCA we have seen literally hundreds of claims come in to our office with very little or no “back-up” information.

Remember the last time you obtained a loan at a bank? You sat there and filled out numerous boxes of information so detailed that they can tell you the maiden name of your mother. When you extend credit at your business, it’s not unlike a bank loan. While you may not need as much information as the above bank, you’ll need all the basics—plus: TRADE STYLE for business credit transactions and PLACE OF EMPLOYMENT for consumer transactions.

Protect your business – obtain information when giving credit.

To Collect Money: "Suit" Should Not Be Your First Choice.

2007-07-16T08:58:00.000-05:00

***

I believe the directly-to-suit collection strategies that I occasionally read about will not work in the long run and even when they do, for only a select few clients. In collections, suit is sometimes a necessary remedy. But not the only remedy and shouldn’t be the first.

Why should suit be avoided?

1. The cost of litigation may not be practical.
2. A contested case may require a Plaintiff’s representative to appear in court.
3. A judgment may prove a hollow victory if the defendant has no assets.
4. (in some contested cases) it may trigger a counter-suit.

Further, a collector has the training, experience, incentive and the technological tools to effect collection (most reputable collection agencies never charge a fee unless they collect.) He must move the debtor to a resolution in the quickest possible time for the collection to be profitable for his office (an attorney’s overhead usually makes it unprofitable to handle balances under a few thousand dollars, or to pursue disputes, or to monitor part payers).

Spring Credit Advisory Memorial Day 2007

2007-05-28T17:04:00.000-05:00

SPRING CREDIT ADVISORY:

Don’t let a debtor vacation with your money.

Look over receivables now, before the doldrums of the summer give those slow payers further excuse for delay.

Act now to turn them over to BCA Financial Services in this peak period and realize the cash before the collectibility shrinks away, increasing your losses and charge-offs.

Photo Courtesy Evermore Gallery of American Art

Evermore Gallery : Memorial Day Acquisitions

2007-05-27T19:49:00.000-05:00

The Evermore Gallery has just completed the final details and has now taken possession of two rare original photos from the 1933 Chicago World's Fair.

The one on the left shows the tall Hall of Science at night. The official photographer's comments on the reverse claims that the tower was illuminated "...in blue and rose color neon tubes."

The official photographer by the way, was Kaufman & Ferry Co. (425 So. Wabash Avenue)of Chicago, Il.

The photo below is a daytime image "Looking northwest across the lagoon from the court of the Electrical Building." They further note that you can view the vaulting skyscrapers of Chicago's loop in the background.

The Evermore Gallery of American Art
is a part of BCA Financial Services Collection
Agency of Bloomfield, NJ.

What To Do If You Receive a Collection Notice.

2007-04-10T19:43:00.000-05:00

Nearly everyone BCA Financial Services collects from intends to keep their payment promises when they purchase an item or service. Photo Courtesy Evermore Gallery of American Art

They sincerely wish to pay their bill, but for a variety of reasons they are unable to do so.

Working with a collection agency need not be an unpleasant experience. Assistance from collection specialists, plus determination and self-control has brought many people out of serious financial situations.

After being contacted by a collection agency, following these three suggestions may help you pay your debt.

Don't Get Angry

Your account came to a collection agency from someone who values your business. However, just as you depend on an income to pay for groceries, rent and other necessities, those who extend credit must have payment for their goods and services in order to pay their bills and remain in business.

Contact the Collection Agency

Now, your account is past due. It is time to find a solution. If you believe you do not owe this bill or have questions about this bill please let us know in writing. This will allow us to provide a response to the issues you raise.

By the bye, if your collection agency is not playing by the book (and from experience the vast majority are OK) and that book is the federal law "Fair Debt Collection Practices Act", they may be in violation of that law. After receiving your first notice from them, you have 30 days to ask them questions, like how did your creditor arrive at the balance. Or, may you have a copy of the bill showing dates, etc. But you should ask them in writing.

If you do owe the bill, let the agency know when payment can be expected, and if you are unable to pay it in full, tell them why. Whatever the reasons were for your past payment problems, to get this matter resolved you should contact them. Please read any notices or letters that they send to you carefully. They contain important information about your rights.

Let Them Help

While collecting past due accounts is their business, helping people solve their financial problems [should be] their commitment. People that staff collection agencies are experienced in credit and collections and are able to assist you if you let them. If your account is listed with a collection service that reports to a credit bureau, this could prevent you from obtaining credit when you need it in the future.

We hope the ideas mentioned here will help you, and that you’ll accept their (or OUR, see below) assistance in resolving a debt.

Remember, you can depend on our cooperation.

NOW, if you have a collection-related question from the debtor side, ask us. We'll keep it confidential but if you're uncomfortable, you do not even have to give your real name. Contact owner John Debold. He'll attempt to give you the most honest and sensible answer.

Crisp View (of the past)

2007-03-16T21:36:00.000-05:00

There are no collection agency goings-on during weekend time, so BCA Financial Services yields to the whims of the other "collection" related matters on the "Collection" Blog. That is, the historic collections of the company's related division, The Evermore Gallery of American Art. The Evermore grows almost every day, if not always by acquisition, then by knowledge.

The Evermore Gallery is always searching for views, images and rare documents like this. If you have such an item and would like to consider The Evermore Gallery for purchase, please email John Debold, principal, at deboldjohn@bcafinancialservices.com.

Of course the NY Public Library would appreciate it if they were given proper credit for this, their acquisition. The Evermore Gallery too, has a vast collection of their own should you like to browse. By the bye, click on this picture to appreciate it's true beauty and clarity.

Notice the Palisades Amusement Park billboard on the corner.

Have a fine St. Patrick's Day weekend. It's very cold and snowy here in Northern New Jersey. But that can happen in March.

Medical Collections - Keep up with the times!

2007-02-22T13:53:00.000-05:00

Just as you wouldn't use this antique "respirator" (from the Evermore Gallery of American Art) on one of your patients, you wouldn't want to apply antique credit and collection methods in your practice.

<---Click on picture for a close-up!

BCA Financial Services Collection Agency remembers the 1970's when we used a personal computer, Apple II with two floppy 5 1/4" disk drives to record and store our data. Today, even our backup drive is 160 gigabyte.

If your bill is not paid, to protect your practice's financial health, all patients must attempt to either recover your payment from their insurance or make arrangements to pay your bill on their own.

Your medical office can guide BCA Financial Services on a case-by-case basis (if necessary) as to the creditworthiness of your patients, but if you can't, we can, by the most up-to-date means legally at our disposal.

Since the Federal collection laws were enacted in 1978, BCA Financial Services has complied with and kept abreast of various changes and interpretations so we, as well as you, can respect your patients' rights and privacy, while maintaining the perserverance needed to collect your money.

With our monetary system, cash flow makes the world go 'round. If you maintain a healthy cash flow in your office, you'll remain a viable practice better able to assist others in need.

<---Here's another medical device (The Evermore Gallery calls it an "Electro-Cardiogram"-it weighs a ton) you would be using if you didn't keep up with the latest technology--which takes money!
...
Let BCA Financial Services help your practice. We've got the experience and references, knowledge and tact to do a good job for your office.

...
<---click to enlarge

Newspaper Collections - Read all about it.

2007-02-20T20:32:00.000-05:00

Commercial business-to-business collection claims have been a specialty at BCA Financial Services Collection Agency.

...

Our first newspaper collection was made sometime in 1973 - now that's experience.

<---- I can't say we've gone back as far as April 16, 1865 when The New York Herald, shown here printed the news of Lincoln's assassination (from the Evermore Gallery of American Art), but they didn't have the quantity of advertising as you do now.

...

Sometimes your sales force may not find the time, when writing business, to obtain the correct trade-style of your customer.

...

Possibly, your customer has not had a lot of experience in newspaper collections and his expectations exceed his return in the form of business, or traffic.

...

One thing your customer/debtor firmly believes is that your loss is the most minimal of all of his creditors. In his mind, you have only the ink on the paper for his ad alone as overhead, right?

...

BCA Financial Services has the resources and experience to find the correct trade style, contacts, and in an extreme case the assets of a corporation, partnership or proprietor. We use this information to urge your debtor to, if not pay in full, make a firm commitment to pay off your bill.

...

Yours isn't the only advertising bill, or other marketing expense that your debtor has, but BCA will attempt to bring attention (and collection) to yours and yours alone.

...

It costs you nothing to use BCA. No contracts, nothing. We only charge a fee on the amount we collect for you.

Presidents Day February 19, 2007

2007-02-19T16:05:00.000-05:00

It's not all Washington and Lincoln in February (as it once was). It's "Presidents Day" and a holiday for BCA Financial Services. It's Garfield, Buchannon and Roosevelt too.

...

The Evermore Gallery of American Art (Go to the "Main Gallery") has numerous old prints of various presidents.

...

<--------The print at left (Jimmy Garfield) is from the Bureau of National Engraving and Art and was printed in 1907. There's one of the same of Jimmy Buchannan at Evermore as well. Take a quick peek.

...

There is also a unique admission ticket to President Garfield's funeral service

....

Evermore has numerous prints and engravings of Washington and Lincoln--a specialty.

...

Take a tour, Evermore is open every day the internet is open.

...

We here at BCA have a skeleton crew that maintain a low profile while preparing for Tuesday-Friday February 20-23, where we'll cram five hard days of work into four. Our Website lists all BCA BLOGs now in one convenient page. Simply go to Collection BLOG Archive and they're all there.

...

Enjoy the final 9 days of February 2007!

Don't Waste Disposal Collections

2007-02-17T21:15:00.000-05:00

What a waste! Yeah, you've heard them all. All the puns on your business. To you in the business they were probably funny a thousand times ago. What isn't funny is servicing your customer for a period of time and not being paid.

...

You've got an incredible overhead in your business. The state, the feds, tipping fees, rolling stock, insurance, taxes, workers, even postage stamps.

BCA Financial Services collection agency has experience in the waste, environmental, garbage or disposal business and whatever else it may be called. We can help recover those unpaid roll-offs and any other account that is delinquent.

...

Bad debt is a hazard of doing business. All business has some risk and there's always going to be some losses, you understand that. But BCA can help you minimize this risk by recovering at least some of this loss and turning the money back into your business to work for you. Maybe truck No. 261 needs a few thousand dollars worth of tires. We can help.

...

Don't let those dollars sit on your books. "Time" is everything in the collection game. Oh, wait a minute, "information" is also everything in the collection business as well. I guess these two things are co-everythings.

...

Regarding the "Time" Factor: Bear in mind, however, that time is every debtor’s ally. The longer a debtor is allowed to ignore a debt, the more factors against successful collection pile up; such as business downturn, marital status, health or income problems, changes of address (usually leaving no forwarding address) and, of course, the mental attitude that comes from having gotten way with it for so long.

...

Regarding the "Information" factor: Get as much information as possible on new customers on the chance that there is the possibility of default.

...

Why BCA Financial Services? Because we've got more than 25 of our 39 years in business serving waste disposal companies. Secaucus, Newark, Hackensack, Hawthorne, Jersey City, Lafayette and Clifton are some of the towns our clients have called home.

...

We don't care what you're picking up either, be it construction debris, medical waste or air conditioners. And we don't care who your debtors are, be they lawyers with shredded paper or restaurants with shrimp shells. You've got to be paid for your service.

...

So don't waste time. Waste a call or fax or e-mail or website view to BCA Financial Services.

...

We're at your disposal.

...

Oh, thank you WasteCo for the picture above. I hope you don't mind our use of it. Maybe one of my clients in the disposal business will buy some of your products. We like your motto: "Leave it to us".

JP'S Steakhouse - American Fare with a Musical Flair!

2007-02-10T16:43:00.000-05:00

Heeeeere's Johnny!

Longtime CPA - (Certified Public Accountant) John Pettoni has reinvented his popular Rhythms of the Night nightclub with the addition of another interest, great food! He's named it JP's Steakhouse.

The BCA Financial Services gang visited the roomy "club" on Thursday last. JP has added a salad bar to compliment his amply-sized steaks. The salad bar, while a great addition, should not lull you into not scouting out the appetizers. My previous time I had a wonderful hot antipasto. While not vegans, we ordered the recommended "JP's Ribeye Steak" (watch his website for special pricing nights!) with optional mushrooms and onions. It arrived quickly smothered in the aforementioned mushrooms and onions-mmmm. A perfect hot and smooth baked potato and carrot and green bean combo rounded out the plate. The steak was cooked to perfection and not easily finishable-but we did!

Mr. Pettoni shouldn't expect to sell many desserts with this hearty American fare. He's only open from Tuesdays through Saturday but that's plenty of time to go grab the best, good old fashioned "comfort food". Enjoy JP's musical theme atmosphere while your steak is in the kitchen sizzling. By the bye, as you can imagine, there's fish, pasta, burgers and some pretty good cold-tap lagers.

It appears there is a wide range of ages of folks in JP's (and Mr. Pettoni welcomes all as we've heard he's entertained many hundreds on a special evening of "The Big Orange Cone") but it's particularly welcoming on a day-by-day basis for the 35 and up crowd. Musical surroundings that recall a bygone era (what young person has even seen an Accordion up close, or god-forbid--record albums!) will jog the memories of this lively demographic. Here's something at JP's Steakhouse the Pre-GenXers may not have put a dime in: --->

This food blog (on a collection agency blog) has made me hungry. If you live in Somerset, or surrounding Middlesex or drive from Essex (as we did) JP's won't disappoint.

Collection Agency Loses Money!

2007-01-21T20:13:00.000-05:00

When our clients send us a claim for collection, we start losing money on day one. –And losing money has not kept us in business for 39 years.

So how do we do it?

Results.

We’ve got a stake in the claim you send us for collection from day one. We must collect it because we have no other way to charge you.

Collection is an art. The art of convincing the debtor of the right thing to do as well as the costly alternatives if your bill is not paid. The art of identifying, locating, researching and uncovering. Marital, corporate or other identity can be important.

We must discover who or what (Corporation, LLC, Partnership, Sole Proprietor) the debtor truly is…so we can be sure they are properly motivated—by court action if necessary.

Locating a debtor (and sometimes more importantly, his assets) can be the most important part—we need to communicate. Researching a debtor is valuable so we don’t waste your time, our time and possible our attorney’s time if the debtor has nothing. Uncovering is the final step since all the courts, judgments or sheriffs can’t satisfy your claim if we don’t discover where your debtor has buried his treasure.

Fortunately, through experience, we have developed the necessary tools to make our business profitable. Oh, and along the way, we’ll guide you to keep your credit mistakes to a minimum.

So we hope you’ll collect it yourself, but if you can’t—we’re here to help.

None of us are in business to lose money.

Contact BCA Financial Services today at 973-429-7616. Ask for John Debold

Coming Soon, The Evermore Library

2006-12-02T20:26:00.000-05:00

Hey, if you've got a moment, visit the Evermore Library. It's a lively place with books ranging from early 20th century children's books to a 1901 tome: The Illustrious Life of William McKinley, Our Martyred President. It's under construction but it can be viewed anyway (and best of all, you can start your own!). It's free to start and if you like it, lifetime membership is only $25.00.

Holiday Season 2006 Collection Agency Message

2006-11-28T16:32:00.000-05:00

BCA Financial Services Collection Agency Clients:
Start off 2007 on the right foot:

This past year at BCA we have seen literally hundreds of claims come in to our office with very little or no “back-up” information.

Remember the last time you obtained a loan at a bank? You sat there and filled out numerous boxes of information so detailed that they can tell you the maiden name of your mother. When you extend credit at your business, it’s not unlike a bank loan. While you may not need as much information as the above bank, you’ll need all the basics—plus: TRADE STYLE for business credit transactions and PLACE OF EMPLOYMENT for consumer transactions.

Protect your business – obtain information when giving credit.

Picture of the Week from the Evermore Gallery

2006-11-22T21:56:00.000-05:00

From Evermore Main Gallery

George Washington appears in this engraving in a full-length portrait by Gilbert Stuart. Here is Stuart at his best, painting a Washington for the ages, grand not as a king but as a stalwart representative of democracy.

The painting, done in 1796, is known as the "Lansdowne Portrait" because it was a gift to the Marquis of Lansdowne, an English supporter of American independence.

This engraving is by James Heath after Gilbert Stuart's painting. It is currently on display in the main dining area (northwest corner) of the Evermore Gallery of American Art.

Quiz of the Month

2006-11-18T21:01:00.000-05:00

Who can tell the folks at the Evermore Gallery what, or where this is? The answer will be posted on Thanksgiving Day 2006. Hint: It's in New Jersey. The winner will receive an e-mail of the beautiful fill-length picture of this art deco structure. E-mail John Debold at deboldjohn@bcafinancialservices.com

Now don't cheat by right-clicking and searching "properties" to see what Evermore Gallery named the picture.

Weekend Feature: The Evermore Gallery of American Art

2006-11-11T23:03:00.000-05:00

M.H. Roberts Obituary that appeared in the New York Times, September 21, 1957.

Please feel free to visit the Evermore Gallery of American Art. Your first stop should be the "Main Gallery." Here is a collection of some of the finest and rarest of american prints and frames. There's over 500 to view (and examine with Picasa's magnifying glass feature). You may find some of the special exhibits fun and historically informative as well. One stop you should make is the Thomas Flyer at the New York to Paris Race of 1908. Here you'll find photos of family ancestor Montague Roberts, who was the driver at the start (in Times Square, New York City). He had to leave at Wyoming however as he honored his commitment to drive in that season's French Grand Prix. I will add in the near future references to some further reading on the subject.

Below is Time magazine's Obituary on Monty. (They didn't get it quite right however, [see above re: Monty' s departure] but for that matter, neither did the New York Times-shown above.)

Time magazine Monday September 30, 1957:

Died. Montague H. Roberts, 74, mechanical engineer, pioneer automobile buff, who taught Franklin D. Roosevelt how to drive; in Newark, N.J. On Feb. 12, 1908, while thousands of waving spectators roared hoarsely, Roberts climbed into a Thomas Flyer, yanked down his goggles and dusted out of Times Square, pitted against five other massive autos in the first New York-to-Paris-via-the-West auto race. Surviving mud burials in Iowa, sandstorms in Montana, Roberts left his car mates in San Francisco, and they brought the battered Thomas—"the best car in the world in 1908"—into Paris on July 30, 26 days ahead of its nearest competitor (three of the six made the finish).

Here's what American Heritage magazine (November 1996 vol 47 issue 7) said, as was verified by two other book authors, regarding the location of his departure:

Montague Roberts had just been given the nickname Get Here Roberts when he withdrew from the Thomas team in Cheyenne to fulfill a previous obligation to drive in a trophy race back East. By then he’d driven the car for forty days, and he’d driven beautifully, knowing when to press the car forward to make time and when to take it easy to stay out of the ditches as much as possible. As he left, the Thomas had a commanding lead of a week over the Zust; his replacement was a young man named E. Linn Mathewson who was associated with the Thomas dealer in Wyoming.

***

A beautifully written and detailed "must read" book on this subject is Julie M. Fenster's Race of the Century, published by Random House. I believe she was the author of the 1996 American Heritage article excerpted above.

2006-11-11T21:26:00.001-05:00

Monty Rides Again

2006-10-21T21:53:00.000-05:00

Hereeeee's Monty (Montague Roberts 1908)

Family member Montague Roberts and the famous New York to Paris Race of 1908 will be featured here this week. Monty is grandfather and great-grandfather of family members.

Go to the Evermore Gallery of American Art (a subsidiary of BCA Financial Services Collection Agency) to see a large collection of 1908 race and other racing pictures featuring grandfather Montague Roberts and the car he drove in the New York to Paris Race of 1908, The Thomas Flyer.

Stock Transfer Collections - BCA's Focus on Experience October 2006

2006-10-14T16:54:00.000-05:00

Copyright 2006 Evermore Gallery

Collection Agency Focus On Experience ®

*** Stock Transfer Collections ***

Our clients continue to thank us for prompt results on past due accounts entrusted to us for collection. We can help your company.

Clients (some have been with us since 1973) save unnecessary administrative expense while returning the formerly charge-off “losses” to the bottom line.

Some of the benefits of BCA Financial Services collection agency:

1. Reduce bad debt losses.
2. Faster recovery / Improved Cash Flow
3. Collection personnel relieved for other duties.
4. Experience and Tactfulness necessary in Stock Transfer

Collections

BCA Financial Services has made it possible for stock transfer companies like yours to achieve similar results. Never a fee charged unless money is collected .

Member: American Collectors Association

Dun & Bradstreet

For a Money Collection - "To Sue or Not to Sue"

2006-10-14T15:22:00.000-05:00

In collections, suit is sometimes a necessary remedy. But its not the only remedy and shouldn’t be the first.

Whenever possible you should try to avoid suit. Why avoid suit?

1. Because cost of litigation may not be practical.
2. Because a contested case may require a Plaintiff’s representative to appear in court.
3. Because a judgment may prove a hollow victory if the defendant has no assets.
4. Because (in some contested cases) it may trigger a counter-suit.

How to avoid suit?

Try to resolve any dispute that may be an honest block in the way of payment - It’s faster than court.

Negotiate. Even a small discount may be cheaper than court.

Offer special payment terms consistent with the debtor’s capacity to pay.

Get as much information as possible on new customers/patients on the chance that there is always the possibility of default.

When all else fails.

Your next move should be to call in a professional collection agency.

The collector has the training, experience, incentive and the technological tools to effect collection (most reputable collection agencies never charge a fee unless they collect.) He must move the debtor to a resolution in the quickest possible time for the collection to be profitable for his office (an attorney’s overhead usually makes it unprofitable to handle balances under $500.00 or to pursue disputes, or to monitor part payers).

The professional collectors (our partners combine 54 years of experience and continuous training) have heard every story and may even have a file on your debtor.

If the agency concludes that suit is the only alternative, you can be sure of their affiliation with the best attorneys specializing in the collection field.

If you feel our experience can help you preclude future bad debt problems, rest assured that you can always call your professional collector with your questions.

John Debold, Managing Partner
BCA Financial Services.COM

ACA Certified Collector

Ramapo College Softball

2006-10-14T11:57:00.000-05:00

Ramapo College of New Jersey

Florida Spring Training 2006

Good Collection Question

2006-01-05T11:01:00.000-05:00

This blog will be about a subject I know best...money collection.

I will be available to answer questions and give advice (to the best of my ability and experiential knowledge)...from both sides of the coin.

This picture above has nothing to do with anything. It's the Polo Grounds Pressbox. As a newcomer [to the Blog] my intention was to experiment.