Learn More About GB Collects LLC
Have a collections-related question? We have the answer! Check out our FAQs below to learn more about our company and services.
Collection agencies are hired by companies that need to collect past due receivables. They only get paid if they are able to collect for their clients and take a percentage of the received collection as payment.
As soon as your customer is no longer a customer and becomes a liability. You should contact a collection agency when your customer stops communicating and you are unable to collect on your past due receivables.
No, we are a collection agency that serves nationwide.
As much as 48.2% of all debt placed by collection agencies is recovered. Total debt returned to creditors in 2013 by third-party collection agencies was $55.2 billion, with a net return of $44.9 billion. The Federal Reserve Bank of New York reports that as of 2015, nearly 14% of consumers in the U.S. had at least one account in third-party collection.
Yes, employees of debt collection agencies typically earn a salary plus commission in a fun environment.
Based on our experience as a collection agency, 25-33% is typically contingent upon collection.