Frequently Asked Collection Questions:

Q: Does BCA Have a Contract?

     A: No, You list claims with BCA and if you are ever unhappy with our service you can withdraw the account, or all of the accounts you have with BCA.

Q:What is your success rate?

     A: BCA collects about half of all claims it lists. The national average is about 20%

Q: How do you go about collecting?

     A: By practicing the consumer's federal law to the letter, with our own sense of decency and a appeal to the debtor's sense of fair play.

Q: How much do you charge?

     A: Our rates are standard to the industry. Somewhere between 25-33% of any amount collected.
    See our rates page. Click HERE

Q: Do you list debtors on the Credit Bureau?

     A: Yes, but not disputes or accounts under the credit bureau's minimum.

Q: What about Court?, do you sue if they don't pay?

     A; Yes, but only with your permission and your check for the districts' court costs (which is added to the debtor's obligation)

Q: Do you collect bad checks?

     A: Yes, but they're treated similiar to a normal collection account.

Q: Can you (or we) charge interest?

     A: Yes, You or we can. Providing you've infomed your customer of this at the outset.

Q: Can you (or we) add your collection fees?

     A: Yes. Same as above. You must have spelled ot out when the transaction began.

Q: Business debt. Can you get them personally.

     A: Sometimes. If they are not incorporated (proprietorship or partnership) or you had them sign a "personal guarantee" at the outset.

Q: What about corporations?

     A: Yes, but be careful, they're just a piece of paper sometimes.

Q: WHEN should I turn over a collection account to you.

     A: Think about it. Three months, three billings, no response, no payment, no returned calls. It's your call but the rule of thumb is 90 days to 150 days.

Q: What if I turn over a collection to you and they pay me?

     A: You are still responsible for our fee. In fact, if a debtor insists on paying you, we won't stop them. Our only goal is to get the money over to your side of the table.

Q: Do I need to give you a Social Security Number?

     A: It really helps, but is not mandatory.

Q: How long do you take to collect?

     A: One claim, which we obtained a Judgment, we recovered 12 years later when debtor liquidated his only asset, his home.
Normally, we should have answers on 60 days or much less.

Q: What if I never get paid from my debtor?

     A: All business carries some risk. We will all take some unavoidable losses. Your accountant will guide you through the loss process.

Q: Do you handle all businesses?

     A: Yes, however we don't handle gambling debts, real estate.

Q: What is the Statute of Limitations on debts?

     A: New Jersey: 6 years. New York: 6 years Pennsylvania 4 years (Community Associations: 3 Years

How to read BCA’s Monthly Collection Statement:

Your monthly collection statement combines both the DIRECT PAYMENTS (payments made to your office) and the TRUST PAYMENTS (payments made to our office).

All payments taken together represent the “Grand Total Collected” on the recap sheet (the page with your name and address on it).

Near the middle of the page it lists “Total Paid Agency”-money paid to BCA (Let’s say, for the example below, the “Total Paid Agency” for the sample month was $1700.00)

Near the bottom of the page is the following recap:

Example: Grand Total Collected:………………………………….3022.46

Grand Total Commissions Due Agency: ……………… 997.41

Grand Total Amount Due Client………………………2025.05

Check Enclosed for……………….………………….. ..702.59

We take the total commissions due Agency from the money we’re holding in our trust account that month ($1700.00) and remit the balance.

So, holding 1700.00 less 997.41 = 702.59.

Some months there will not be a combined direct and trust payments. In that case it will either be a “Please Remit” (if all money went to your office) or a “Check Enclosed” (if all money went to us).

If you have any questions, please call our office anytime.

Thank you.