Author Topic: After eviction - Putting tenants in collections  (Read 1380 times)

Enigma

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After eviction - Putting tenants in collections
« on: November 30, 2017, 09:38:50 PM »
I have been using 'www.rentrecoveryservice.com (rrs)' but will be switching to 'olddebts.com (od)'
I didn't realize it until yesterday that (rrs) uses (od) in the background.  The cost is less per person put into collections

There are different reasons you can put people in collections with (od) (unlike rrs)
 - General: Use if your debt type is not listed.
 - Medical: All HIPAA category debts, no pets.
 - Personal Services: Hair, nails , tailor etc.
 - Education: For school and education loans only.
 - Banking: For banking institutions only.
 - Rental/Leasing: For all tenant/landlord debt.

[each include reporting to all three collection agencies + Address change search]
1-ltr pkg w/collections -> rrs = $16.95  od = $12.95
3-ltr pkg w/collections -> rrs = $26.95
4-ltr pkg w/collections -> od = $24.95
(With (od) there is also bulk pricing)

++Also (od) is not limited to just rental/leasing debt.
++Also you do not need a SSN (social Security Number)

I in no way get paid to list this information.  I just wanted to post what I do after I go through the headache of evicting an individual from my units.  So if a renter moves out owing me more than $1000, I put them in collections a couple of months later.  Thus far I have put about 20 individuals in collections with just 1 letter.  It has only paid off twice in receiving money.  But it does make the next person they fill out a background check with aware they didn't meet their obligations on paying rent.
"Periodically calculating your net worth -- the value of your assets minus your liabilities -- is the best way to measure and track your financial well-being." - unk

FI: Sept 1, 2014 (Age 35) - Completed
RE: Friday July 12, 2019 (Just b4 40th Bday) - Goal

Blindsquirrel

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Re: After eviction - Putting tenants in collections
« Reply #1 on: December 04, 2017, 07:13:33 PM »
   Do they require a money judgement to start? just curious. Have been using lawyer who gets 33% of amount collected. He is a world class snake so he is normally somewhat successful.
Even a blind squirrel finds a nut once in awhile.

Enigma

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Re: After eviction - Putting tenants in collections
« Reply #2 on: December 12, 2017, 01:41:23 AM »
No they do not require any money judgements by any judges.  For rental property they do require that the debt be 31 days after they have left the unit.

The individual put into collections has 90 days to dispute the collections.  In doing so they may ask you for paperwork showing that they owed you money.  Like a statement, lease, promissory note, etc.

I have put about 30 individuals into collections.  Two have disputed the collections almost 4-5 months after the fact.  None have come out of collections.  Also I haven't had to produce paperwork for anyone in collections yet.  The collections is also a flat based collections.  Using a lawyer is a strong arm attempt.  I have used that for one situation.
"Periodically calculating your net worth -- the value of your assets minus your liabilities -- is the best way to measure and track your financial well-being." - unk

FI: Sept 1, 2014 (Age 35) - Completed
RE: Friday July 12, 2019 (Just b4 40th Bday) - Goal

Aimza

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Re: After eviction - Putting tenants in collections
« Reply #3 on: December 12, 2017, 09:43:47 AM »
What's the flat fee amount to get a tenant into collections?

Enigma

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Re: After eviction - Putting tenants in collections
« Reply #4 on: December 12, 2017, 10:22:46 PM »
All the prices are in the first post.  The minimum amount would be a 1-ltr pkg w/collections on olddebts.com for $12.95
It puts the individual in collections with all three credit (Trans, Equifax, Experian)
"Periodically calculating your net worth -- the value of your assets minus your liabilities -- is the best way to measure and track your financial well-being." - unk

FI: Sept 1, 2014 (Age 35) - Completed
RE: Friday July 12, 2019 (Just b4 40th Bday) - Goal

Satin Shoestring

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Re: After eviction - Putting tenants in collections
« Reply #5 on: January 07, 2018, 05:41:28 PM »
All the prices are in the first post.  The minimum amount would be a 1-ltr pkg w/collections on olddebts.com for $12.95
It puts the individual in collections with all three credit (Trans, Equifax, Experian)

A few considerations:

#1 Make sure the debt collector you are using is licensed by the state licensing board for collections in the state where your properties are. This cheap price sounds too good to be true.

#2 If the evictions were through the court system and resulted in a judgment, the judgment should appear as a public record on the major three credit reporting agencies without your having to do anything. The credit reporting agencies use third party vendors who troll the court systems for public records.

#3 If the eviction was for possession only and did not result in a money judgment, but you want to collect the unpaid rent, go back to #1.

Good luck. Bad tenants are a nightmare.

Michael in ABQ

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Re: After eviction - Putting tenants in collections
« Reply #6 on: January 12, 2018, 04:06:15 PM »
So you pay $12.95 and they send a letter to a tenant that owes say $1,500. If that tenant somehow decides to pay everything they owe do you get all of it, or just a percentage? Do these companies tack on additional fees to cover their costs, i.e. charge the tenant $1,800 for the $1,500 debt?
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