Business Collections

[landman]

I just wanted to enlighten you guys on a great company I started dealing with recently. Some of you might know of them, they are called Transworld Systems they are a collection agency that caters to small businesses like landscapers etc. They charge about $10.00 per collection account for amounts under $1000.00. We just gave them 26 accounts for collection. The reason I bring this to your attention is some guys don't want to bother with a collection agency because they take 30% of the bill. This company is nationwide and have a lot of offices. If they deliver like they say they can I stand to collect about $15,000.00 owed to me. I will keep you guys posted as to the progress of our dealing wiith them as well as any results.

[W-n-K Landscaping]

How about a link to their company? I'm assuming of course they have a website that we can look at, and possibly contact them through?

Bill

[snonut12]

For $10 per collection for amount up to $1,000 - IMO it sound too good to be true. I don't see how they could be making money collecting money because that is really cheap, even through they are national wide company. But if that is true, then it surely would make it alot easier to go after someone who still owe you money. I have someone who still owe me several hundreds for leaves clean-up. :mad:

[landman]

I have another meeting with the rep on Wed. 2/18 I'll get more info and post it. BTW they also handle large corporate accounts too so that is probably where they make the most $$. They probably just take small accounts to fill in and make a couple bucks.

[Bob Van]

I'm interested also. This looks like the year that I will need a service like this. I have several from last year also.

Thanks,

[digger242j]

They probably just take small accounts to fill in and make a couple bucks


And if they did that with snowplows everybody'd be cussing em out for being lowballers. Interesting change of perspective, isn't it? :confused:

[CPSS]

Transworld Systems (http://transworldsystems.com)

[CPSS]

Well I just wasted my time meeting with a salesman from Transworld Systems. First of all, he wanted me to commit to 50 collections over the next 2 years. Second, he wanted me to turn over accounts to him that became 45 days past due. Third, any account that was more than 6 months past due, he would take 50% of the amount collected.

I'm careful not to do work for customers that I think might be problems, so therefore I don't have many accounts that need a collection agency, certainly not 25 a year.

Many of my customers are 45 days overdue. 95% of the time I can collect with a few well timed phone calls.

Seems like he wants to collect the easy ones. BTW, he quoted me $13.95 each for the easy ones, less than 45 days overdue. He said $10 is the national average.

[Bob Van]

Just what I was afraid of.......When it sounds too good to be true..... It Probably is.

[landman]

I signed with them I dodn't have time to fill in all the details now but I will fill you guys in a day or so.