New Jersey Collection Agencies

New Jersey collection agencies are a smart business solution when dealing with customers who owe you money won't pay.

New Jersey businesses face a number of collections problems. Unpaid bad debt creates negative cash flow for your business.

If your in house collections efforts are not consistent and effective, you lose not only money, but productivity as well, because you're having to dedicate labor time to "chasing after" these delinquent accounts.

To better recover on these past due accounts, many New Jersey businesses turn to New Jersey collection agencies.

How Can A New Jersey Collection Agency Help Me?

A New Jersey debt collection agency can help your business collect its bad debts by:

Mail
Typically, collection agencies make use of a number of letters sent to the debtor, called demand letters. These are often very effective in getting the debtor's attention, especially since they're coming from a neutral third party. They're written to remind them of their obligations, and get them to pay or make payment arrangements to satisfy the debt.

Phone
If, after a series of demand letters don't prove effective, a New Jersey collection agency will then make phone calls to the debtor.

Legal Options
New Jersey debt collection companies often can take legal action, up to and including filing suit, if both the demand letters or phone calls haven't been successful.

Areas Served in New Jersey

New Jersey collection agencies offer coverage statewide, including:

• Newark
• Jersey City
• Paterson
• Elizabeth
• Edison Township
• Woodbridge Township
• Dover Township
• Hamilton
• Trenton
• Camden

Choosing A New Jersey Commercial Collection Agency

When choosing a New Jersey debt collection agency, here are a few areas to pay attention to:

Debt Collection Techniques

• ask for sample demand letters that they will be sending to your clients. You want to make sure the language is both strong enough to get their attention, but doesn't alienate your customers. You also want to make sure they abide by the federal Fair Debt Collection Practices Act (FDCPA), and other state collections laws.

  The FDCPA forbids abusive, threatening and obscene language when dealing with debtors, and that they be treated with respect.

• Ask how is debtor information forwarded to the collection agency.
• When and how is collected monies sent to your business.
• How can your business monitor the collections activity.

Company History and Reputation
Ask for references of other similar businesses they've worked with; ask how long they've been in business. Many agencies come and go, so make sure you're dealing with a New Jersey collection agency that has stability.

When you're ready to hire a New Jersey debt collection agency, let DebtCollectionSteps.com help you. Fill out the quote form below, and we can refer you to an agency that serves your area.

A Summary of New Jersey Debt Collection Laws

• New Jersey Collection Laws Interest Rate
  
  Legal: 6%
  Judgment: No Statutory Provision
  
  
• New Jersey Collection Laws Statute Of Limitations (Years)
  
  Open account: 6
  Sale of Goods: 4
  Written Contract: 6
  

  Domestic Judgment: 20
  Foreign Judgment: 20
  
  

• New Jersey Collection Laws Bad Check Laws (NSF) (Civil Penalty)
  
  N/A



• New Jersey Collection Laws General Garnishment Exemptions
  
  $142.50 wk. minimum 10% of gross earnings $142.50 & over





• New Jersey Collection Laws Collection Agency Bond & Licensing Rules
  
  Bond: $5000 Surety
  License: No
  Fee: No

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