Why use a collection agency?
What if the debtor disputes the debt or just refuses to pay?
What debts can be placed for collection?
Does the age of the debt make it more difficult to collect?
How long have you been in business?
Are there any guarantees of payment?
Does your company charge an annual fee?
If I decide to use your services, how do I get started?
What information would you need from me in order to get started?
What is your fee?
Are you a member of a local Chamber of Commerce?
Do you purchase the debts outright from us or do you charge a percentage of the debt collected?
Do you have any requirements for us?
I was wondering how long should I wait before I turn my accounts over for collection?
How many accounts may be sent for collections at once?
Why use a collection agency?
Many debtors will pay us even though they never cooperated with the original creditor. The debtors sometimes realize you are serious or don't want a damaged credit rating or to go to court, therefore it is sometimes possible for the agency to collect when the client was not able to.Back to Top
What if the debtor disputes the debt or just refuses to pay?
If the debtors dispute the debt, we will provide them with copies of all relevant documentation proving the validity of the debt. If the debtor refuses to pay, we will suggest legal action.Back to Top
What debts can be placed for collection?
We have a minimum dollar amount of $1,000.00 TTD on claims placed with us for collection. We do ask that you only place debts that have occurred in the last 4 years. However we will try and collect debts that have occurred over 4 years but results may not be as successful.Back to Top
Does the age of the debt make it more difficult to collect?
Yes, the older the debt is, the harder it is to collect.Back to Top
How long have you been in business?
Credit Chex Ltd. was opened in February 1985.Back to Top
Are there any guarantees of payment?
No, we cannot guarantee payment, but will try our best to get your money for you.Back to Top
Does your company charge an annual fee?
Yes, we do charge an annual fee. The fee is determined based on the type of plan chosen.Back to Top
If I decide to use your services, how do I get started?
Choose a plan and fill out and send via fax or e-mail the Debt Insertion Form provided on the home page together with all relevant documentation pertaining to the debt.Back to Top
What information would you need from me in order to get started?
Your company name, address, fax, phone, and e-mail.The debtor's contact information, name, address, any identification numbers, any contact phone numbers, references, e-mail etc. Copies of all relevant documentaton relating to the debt. Total amount owed (including interest charges if any) and when it was due.
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What is your fee?
You only pay us when we pay you. Commission charges are calculated based on the age of each debt submitted by the Client: i.e. from the date on which the client's right to claim for payment of the debt first arose to the present date.Standard commission charges on amounts collected are as follows:
* Debts 2 years old or less = 20%
* Debts between 2 - 3 years old = 30%
* Debts 3 - 4 years old = 40%
* Debts 4 years and older = 50%
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Are you a member of a local Chamber of Commerce?
Yes, the Trinidad & Tobago Chamber of Industry and Commerce.Back to Top
Do you purchase the debts outright from us or do you charge a percentage of the debt collected?
A percentage of the debt collected. No charge if nothing is collected.Back to Top
Do you have any requirements for us?
The most important requirement we have is that you report to us if a debtor pays you directly. 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 interest.Back to Top
I was wondering how long should I wait before I turn my accounts over for collection?
You can turn them over whenever you like. It's totally up to you. Please note however that, as a debt ages the more difficult it is to collect.Back to Top
How many accounts may be sent for collections at once?
You can send as many accounts as you like.Back to Top