FAQ

Collection Bureau Services

FAQFrequently Asked Questions

Q. How can I reach CBS?

A. That depends on who you are and what you need:

1. Consumers with complaints or questions about their account should CLICK HERE. Note: we cannot communicate with you via e-mail. You must provide a phone number or mailing address for us to address your concern.

2. Clients and business owners interested in learning more about our services should CLICK HERE.

Q. How long has CBS been in business?
A. CBS has been in business since 1976.

Q. Is CBS a member of the ACA International (formerly known as American Collectors Association)?
A. Yes. Collection Bureau Services, Inc. has been a member of the ACA International since 1976.

Q. What is CBS’s recovery rate?
A. Recovery rates vary depending on different criteria including the age of the account, the geographical location of the consumer and the size of the account. CBS has competitive recovery rates. A CBS rep would be glad to provide you with some recovery percentages from current CBS customers in your category.

Q. When should accounts be placed for collection?
A. The simple rule of thumb is: the sooner the account is placed for collection, the higher the recovery rate. Obviously, accounts should not be placed at 30 days past due, but a careful analysis of in-house activities usually reveals that payments received from in-house efforts drop off dramatically just after the accounts reach 90 days past due.

Q. How can I place accounts with CBS for collection?
A. Placing accounts with Collection Bureau Services can be done several different ways:

  • On-line.
  • Printed Listing Sheet (mail or fax).
  • Electronic data processing.

Q. Why does CBS recover so much more money than traditional contingency agencies?
A. Two reasons. First, one of the keys to recovering delinquent accounts is to refer them to the collection agency earlier. As time passes, people move, get sick, lose their jobs, file bankruptcy, etc. Many of these events make an account more difficult, and sometimes impossible, to collect. When creditors are faced with the possibility of paying 30, 40 or even 50% of the collected money to the collection agency they naturally wait to place accounts for collection. According to ACA International, the average collection account is placed when it is nearly eight months past due!

The second factor that affects how much a collection agency will recover has to do with how hard they work on each particular account. When agencies are working on a contingency fee basis, they aim to maximize their bottom line — not yours. Some agencies will work only the larger balances or the fresher balances. Other agencies may take all accounts, but really only concentrate on the local ones that keep their overhead low. When accounts are placed with Collection Bureau Services each account is worked systematically and thoroughly regardless of its age, size or location.

Q. Can CBS collect debts for my type of business?
A. All businesses are different and unique in one way or another. But long experience has taught us that there is little difference between a consumer who is not paying one business and a consumer who is not paying some other business. Collection Bureau Services is currently successfully collecting for over 800 businesses.

Q. Where should I refer someone who wants a copy of their credit report?

Equifax
PO Box 740241
Atlanta, GA 30374
(800) 685-1111
www.equifax.com

Experian
PO Box 949
Allen, TX 75013
(888) 397-3742
www.experian.com

Trans Union
PO Box 2000
Springfield, PA 19022
(800) 888-4213
www.transunion.com

Or you can get a free credit report from all three credit bureaus at: www.AnnualCreditReport.com