Someone owes you money, and you want to collect. Simple, right? Wrong. There are steps to take in debt collection, which can be highly technical, and one misstep can result in allegations of wrongdoing, to the point of possible criminal charges being brought against you. For most people, no amount of money is worth that risk.
Let us assume you are a business or a consumer and you have a debtor who owes you money. Even if you were to get a judgment from the Court, granting you a judgment for a specific amount of money, plus interest, plus court costs, you only have a piece of paper with the positive words on it, but no viable way of getting your money back. Again, you are facing the tests of legal action to get your money back. If you want to garnish the debtor’s wages, what are the legal requirements and limits for a garnishment? If you want to put a lien on the debtor’s real property or some valuable item of property, how do you attach a lien on any property, while determining that it is not exempt and actually can be liened?
This is where an Ontario collection agency comes into play. Not only does a collection agency know how best to work with the debtor initially to get your money without a lawsuit, but if a lawsuit is necessary they have the necessary training, experience and tools to get a judgment. Then, and this is huge, they know how to get your money back, how to garnish wages, how to lien property, etc. An Ontario Debt Collector knows all details of the law, and has a lot of training and experience to draw on. Most importantly, they know which attempts at collection are illegal, and must be avoided, and which actions are legal and effective.
Generally, an Ontario collection agency which is contacted by a creditor will make an assessment of how much problems they will face in the attempt to recover the creditor’s money. An Ontario collection agency will make an aggressive, but civil first attempt to get your money back, by trying to suggest the most reasonable method of payment for the debtor, that the debtor can make. The cost is reasonable (a small percentage of the total amount due, or a small flat fee), and all of the detailed collection activity will be handled in full by the collection agency.
If your business is located in any of the following areas and would like to get a free quote with our collection agency, please visit our website at: www.expresscollection.ca