How do you sell unpaid bills to a collection agency?

Answer by  patti (29325)

Collection groups by large portfolios of bad debt, paying a few cents on the dollar to the original creditor. The money collected then belongs to the collection group. Your best bet to recover is to file in Small Claims. You can get a judgment that allows you to take steps to recover.

Answer by  patti (29325)

Unless you have more than $.5M of bad debt, there wouldn't be a lot of interest. If each bill is a substantial amount, you might interest a law firm.

Answer by  Att4372 (1704)

When you sell unpaid accounts, the agency pays you a small fraction of their value. This is sale without recourse. Alternatively, you can assign accounts and pay a small percentage of what they actually collect. You get the uncollected ones back. Contact several agencies and look for your best deal.

Answer by  demannlv (179)

As an individual this might not be in your best interest especially if these are small bills and an agency might not want to deal with you. As a business, you would need to contact such a service and make an inquiry. There will be a contract to be signed.

Answer by  Chaneygirl (1755)

I would start by finding a collection agency, try the yellow pages or online. You will need to submit a list to them of the names, addresses, phone numbers and amounts owed for the people who owe you money. Collection agencies will keep some of the money they collect.

Answer by  AnnaTeague (806)

There are most likely local collection agencies which will collect the past-due accounts receivable for either a flat fee or a percentage of the amount they actually are able to collect, usually fifty percent. The older and less collectible a debt is, the less an agency will pay for it.

Answer by  JohnHolmes (2660)

Most collection agency will not buy bills from an individual unless they are representing a corporation. However you can often get them to collect for you for a fee.

Answer by  tamarawilhite (17883)

You can contact the collection agency and sign a contract for the collection fee. This is a contract for which you pay them a percentage of anything that they collect.

Answer by  Zoso (869)

You would sell these uncollectibles at about 10 or 15% of face value to an agency, a number determined by the creditworthiness of the clients, the invoice ages, if they're local and 'dunnable', etc. But the collections business is in turmoil right now, a handful of bills will be unattractive for them, and you may have better luck yourself.

Answer by  ghengizshon (75)

The first thing you need to do is determine what the value of the unpaid debt is. Then you must contact collection agencies in order to sell it.