Do I Really Need a Debt Collection Agency

“It has been quite some years that I lent a good sum of money to one of my colleagues. While borrowing the money, he said he will return it within three months. I believed him, and did not ask him anything regarding the money for next six months. I was giving him the benefit of doubt and convincing myself that may be he is going through a rough patch and not in a state to pay me back my money. After six months, I asked him if he could pay me back the money I lent him, and he got annoyed. I kept calm and avoided the topic. Slowly he started ignoring my calls and stopped talking to me. I spoke to the common contacts we have, but all in vain. He ignored them as well. Now I am clueless of what should be my step, as the money I lent was my hard earned.”

The above paragraph might sound like just a story, but this is happening to many people in the country and around the world. If you are in one such situation where it is becoming tough to get in touch with your borrower and it seems like a dream to get that money back, then the best and easiest option you have is getting in touch with a debt collection agency. Taking for example, one of the renowned and trusted debt collection agency, Atlantic Recovery Solutions, has been helping many of the creditors to get their money back. The creditor can be an individual or a business. If you have lent your hard earned money to someone, they make sure you get it back.

Want to know the steps that they take to recover the money? Here you go:

• They contact the borrower: Once you contact them, they will listen to your case patiently and contact the borrower accordingly. Every case is different; thus, they contact the borrowers on the basis of that. They usually give the borrower a call to discuss the situation. If the borrowers do not respond to their calls, they send legal letters to the debtors. If the letters are also ignored, they take a step ahead and pay visit to the house of the borrowers while maintain the government guideline.
• They get in touch with other point of contacts: If they find it hard to talk to the debtors directly, they may call the others point of contacts. This is basically done to find the whereabouts of the borrowers.
• They take legal steps: If nothing works, they proceed with taking legal steps against the borrowers. These steps are taken as per the rules of the government.

The best thing about taking help of a debt collection agency is that the process gets smooth.  You do not have to deal with chasing the debtor and the thought of not getting the money back. You can be assured that the money you lent to help that colleague (or any borrower) will come back to you.