Debt Collection Process

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The Hoevel Debt Collection Process

Our successful collections are based on a tested and proven collection process. Once an account is referred to our firm, we perform the following steps:
  1. Account Received - Debtor account is received and entered into our collection database.
  2. Assets Verified - Demographic data is verified and the debtor's employment and/or assets are identified.
  3. First Letter Sent - A letter is sent to the debtor requesting that he pay the debt or dispute it.
  4. Initial Telephone Contact - The debtor is contacted by telephone. He is encouraged to settle the matter in full or enter into an installment payment plan.
  5. Payments Received and Processed - Any payments received are recorded and deposited in our client trust account.
  6. Payments Remitted To Client - Collected payments are remitted to client monthly, along with collection report, less fees and expenses.
  7. Lawsuit Authorization - In the event that litigation is necessary, client is contacted for it's authorization.
  8. Court Attendance - Our attorneys will attend all court dates. The client's appearance in court may be required on rare occasions.
  9. Judgement Enforcement - Upon entry of court judgment, enforcement action is commenced including wage garnishment, bank account garnishment and home liens.

Debt Collection Fees

Our fees are contingent upon successful collection. If we don't collect, you pay no fee. If we do collect, the fee is a percentage of the amount collected. The percentage varies, depending on the accounts collectibility, the dollar amount, and the volume of accounts referred. The typical rate is 33%, but we may agree to a reduced rate for high volume and high balances.

Frequently Asked Questions about our Debt Collections

How quickly will collection occur?
Some debts are collected in a week and others are never collected. Usually, if a collection is going to be successful, revenue will begin to be collected between one to six months.

What will the client be required to do?
Our clients are required to provide documentation of the debt and detailed information of the debtor such as social security number, bank account information, employment information, insurance, etc.

Are clients required to attend court?
Our clients are rarely required to attend court proceedings. However, you will be consulted from time to time by telephone to review settlement offers or provide additional information.

How do we disburse your money?
All money collected is deposited into our client trust account. After we are certain that the debtor's payment has cleared, the money is disbursed to you and we retain our fee.

Call 773-539-0937 or contact us for a consultation