Darren
Pittsburgh,#2Consumer Comment
Fri, February 22, 2013
I owned a collection agency for 22 years that I recently sold. I have absolutely no relationship with the company you're questioning (National Asset Management) other than seeing them in passing at ACA events, but they're known as a reputable company in the industry. Trust me, there are a lot of really bad agencies out there, and they're not one of them. It boggles my mind how people think they can have an account that doesn't pay them for months and months, then the company goes out of business and somehow they expect a collection agency to miraculously collect from them. People don't use common sense. Collection agencies work on a contingency basis. They incur all costs up (letters, postage, phone calls, insurance, credit reporting, and even legal fees) so they are taking a risk every time someone places an account with them. I don't understand why people think they shouldn't be paid if you want to withdraw the account. Do you expect them to work for free? I know you don't like working for free or else you wouldn't have placed the account in collections in the first place. A good collection agency can help improve cash flow for a lot of companies. Just don't expect them to do the impossible.