Collection FAQ’s

The first step is to sign and return our contract (See Fees tab above.)  Then, please provide us with your debtor details either in an export format from your accounting system and/or scanned supporting documents (in PDF format.)  Please provide as much detail as possible, we will work with the data for entry into our highly specialized and secure CRM and Fund Accounting technology.

Integrated RM does not accept re-assigned accounts (debts already worked via another collection agency.)

 

Credit Bureau Reporting

Integrated RM will report debtors to credit bureaus.  Debtors requiring credit within a period of six years will have to rectify their account.  Some debts can not be reported on, for example:  Debts under $50.00, Rent arrears, Utilities (Hydro, Gas, etc.) Parking fines and Non-liquidated debts (precise amount owed cannot be determined from the terms of the contractual agreement.)  Clients are asked to make sure they can validate evidence of a debt via a signed agreement, promissory note, or invoice.

Collections Agency Regulations

Collection agencies must first, send a letter to your debtor informing them that Integrated RM are now under contract with creditor.  We must allow six days prior to making phone contact.  Integrated RM will make three contacts per week (maximum allowed) to settle your accounts.

Statute of Limitations

Claims against your debtors must be done within two years.  If Integrated RM recommends legal action, the account will be withdrawn at no charge.  We will provide you with a selection of local law firms who we have partnered with.   This gives you the client, an opportunity to review available rates and specializations that best meet your needs.  Integrated RM will also provide all documentation of letters and calls made to date at no charge to assist your legal team in winning settlements.

Collection Agency vs Legal Action

Always use a collection agency first, prior to taking your debtors to court!   Most debts can be collected via Integrated RM without any frustrations for the creditor.

A judgment is an order of the court; it is not a guarantee of payment.

Small Claims Court: Claims under $25,000 fall under small claims jurisdiction in most provinces.  Be prepared and familiar with what happens if debtor still refuses to pay and steps involved to get paid.  If this looks a bit overwhelming, we would recommend you use the services of a paralegal (listed here.)   If you are successful and are granted a judgment, the judgment may include fees you have paid.

Higher court lawsuits: Integrated RM will only recommend a legal proceeding as a last resort or it is obvious the debtor will not pay under any circumstance.  We see no value to us or our clients by holding on to a debt if we are certain we can not collect.  As soon as this is self evident, we will provide a selection of local law firms that we have partnered with so you can pick best fees and qualifications on your terms.  At this time we will withdraw the debt at no charge.