Trans-Continental Credit & Collection Corp.
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Do I have to place a minimum number of accounts to become
a client of Trans-Continental ?

Although most collection companies do have a minimum, Trans-Continental will assist virtually all businesses of any size. Therefore, we do not require you to place a minimum number of accounts to become our client.

Is there a minimum dollar balance per account in order to use
Trans-Continental ?

Although most companies do not accept balances below $250.00, Trans-Continental will accept any account with an outstanding balance of over fifty dollars.

Can I place a debt that is owed to me personally and not to my
business ?

No, we will only accept accounts that are owed to a business.
Debtors that owe delinquent accounts to a business can be individuals and/or businesses.

What is the difference between a consumer debt and a com-
mercial debt ?

A consumer debt is money owed by an individual person to a business. A commercial debt
is money owed by one business to another business.

Does Trans-Continental provide collection services to the
healthcare field ?

Yes, Trans-Continental specializes in debt collection services to the entire range of healthcare providers - from single practioners to major institutions(hospitals) requiring major delinquent account management and cash-flow assistance.

What is the actual fee charged when an account is collected ?
The fee will vary depending on whether an account is commercial, healthcare, or consumer debt, and whether the account is a primary or secondary placement. In addition, the age of the account may effect the fee.

What is the difference between a primary placement and a
secondary placement?

A primary placement is an account that has never been placed with another collection company or collection attorney. A secondary placement is an account that another collection company or collection attorney has previously tried to collect.

What happens when a debtor I submitted to Trans-Continental
makes payment directly to us and bypasses you?

It is important to notify us immediately so we are able to stop the collection process and satisfy the account.

How often can I get updates on the status of the accounts I have
placed with Trans-Continental?

You can request updates as often as you like.

How long does it take to collect an account?

No one can give you a specific time frame in which your accounts will be collected. Some accounts will be collected very shortly after placement, others may take months to collect. The average collection time is usually about 3-4 months from the day of placement.

If Trans-Continental can't collect my account through the regular collection process, will you litigate on my behalf?
Trans-COntinental has a staff of collection attorneys that will litigate any account that they judge to be collectable through the court system.

Is there any additional cost to me if an account has to go to

Trans-Continental will never litigate an account without your prior consent. Once you authorize us to begin litigation, we will commence the action against the delinquent account. All litigation accounts are billed on a contingency basis. There are additional costs usually associated with litigation such as court disbursement fees which include fees charged by process-server to serve the summons and complaint. A fee is also charged by the court to purchase an index/docket number. These additional costs would be discussed with you on a case-by-case basis.

What is your recovery rate and what percentage can I expect to get back?
Recovery rates differ depending on a number of variables:

1. The most important factor is the age of the debt when you place it with a collection company. The older an account is, the harder it is to collect. The American Creditors Association states receivables generally depreciate at the average rate of 10% per month.

2. The geographic location of the delinquent account is another factor: Some neighborhoods have higher recovery rates than others due to various economic factors.

3. It is often easier to collect from a business than it is from
an individual,although Trans- Continental has a record of outstanding success in collection of both commercial and consumer debts.

4. How diligent you are in your own collection efforts will have an effect on the rate of recovery by an agency. Our rate of recovery will be effected negatively if you have already aggressively pursued the account on your own. The exact opposite holds true as well. If you are short-staffed or have not placed a great deal of effort into the collection of your delinquent accounts, placing the with Trans-Continental early, the recovery rate will usually be higher.

5. The size of the individual debt owed also plays a role in
the average recovery rate. Many debtors have a perception that small balances are usually not worthy of litigation and they will tend to ignore those amounts. The opposite is also true. If a bill is large, it is more likely that the debtor's fear of being sued will motivate them to make payment.

Will any account you cannot collect through simple collection
procedures go to litigation?

No, the Trans-Continental staff will review an account prior to asking you for your authorization to sue. Dollar balance and location of assets play a role in the decision. For example, if a person already had five judgements against him/her, we would probably not recommend this person to be sued. If a person has assets such as a home or auto and is gainfully employed, we would probably request your authorization to litigate.

At what point does an account become "uncollectable"?
Once our collection staff has exhausted all efforts and a supervisor has reviewed the account and agreed with the collection personnel, we would then notify you as to why we have determined that the account is not collectable. This usually does not happen for at least four months, but in most cases you would be notified at about eight months following placement.

How does Trans-Continental collect my delinquent accounts?

This is very difficult to answer since many factors requiring ongoing expert evaluation are involved, but our basic method includes a proven series of hard copy collection letters as well as phone calls.

Does Trans-Continental locate individuals or businesses who have
relocated with no forwarding address ?

Yes. Trans-Continental makes use of all the latest technology in order to locate bad addresses.

Is Trans-Continental licensed and bonded in my state?

Trans-Continental meets all requirements in all states for licensing and bonding.

TransContinental Credit Corp. | 44 South Broadway Suite 401. | White Plains, NY 10601. | (914) 421-3000.
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