North Dakota Collection Agencies

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

North Dakota 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 North Dakota businesses turn to North Dakota collection agencies.

How Can A North Dakota Collection Agency Help Me?

A North Dakota 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 North Dakota collection agency will then make phone calls to the debtor.

Legal Options
North Dakota 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 North Dakota

North Dakota collection agencies offer coverage statewide, including:

• Fargo
• Bismarck
• Grand Forks
• Minot
• Mandan
• Dickinson
• Jamestown
• West Fargo
• Williston
• Wahpeton

Choosing A North Dakota Commercial Collection Agency

When choosing a North Dakota 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 North Dakota collection agency that has stability.

When you're ready to hire a North Dakota 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.

North Dakota Collection Agencies Law Summary

• North Dakota Collection Laws Interest Rate
  
  Legal: 6%
  Judgment: 12%



• North Dakota Collection Laws Statute Of Limitations (Years)
  
  Open account for services: 6
  Sale of Goods: 4
  Written Contract: 6
  

  Domestic Judgment: 10 renewable
  Foreign Judgment: 10 renewable
  
  

• North Dakota Collection Laws Bad Check Laws (NSF) (Civil Penalty)
  
  Amount due, collection fees of $20, and $100 or 3x check whichever is less



• North Dakota Collection Laws General Garnishment Exemptions
  
  Greater of 75% or amount each wk. = to 40 x Federal minimum hourly wage, plus $20.00 each household dependent



• North Dakota Collection Laws Collection Agency Bond & Licensing Rules
  

  
  Bond: $20,000
  License: Yes
  Fee: $200
  Exemption for out-of-state collectors: Out-of-state collectors may be exempt if [1] collecting only; [2] their office is located in a state that has a reciprocal law; and [3] the state has "enacted similar legislation".

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