Finding a Reliable Collection Agency for Landlords in Indiana
Will an agency report my past-due tenants to the credit bureaus?
Will an agency attempt to collect my debts before recommending suit?
Many of my bad tenants never leave a forwarding address. How does an agency find them?
Can an agency collect if a tenant moves out of state?
You might find it surprising that sizeable multistate property managers in Indiana don't know the answers to the questions above and hire the first collection vendor that pops up on a Bing or Google search. Sometimes the best collection agency for Indiana landlords is not based in Indiana. At AAB, we have been collecting Indiana landlord-tenant debt for almost 40 years and are based in Michigan. Who knew?
You have likely heard the benefits of using a collection agency; better recovery percentages, lower legal fees, a higher percentage of locates, and success with out-of-state tenants. Wouldn't it be great if you had more suitable options than what Google might show you? Internet searches typically try to give you what it thinks is the best result by geographic radius from where you're located. Sometimes the best collection agency is not close to you.
What are the characteristics that I should be looking for?
AAB has many decades of practical experience collecting debts for Indiana landlords and property managers. Almost our entire business is dedicated to landlord-tenant recovery, and we have perfected the process to provide fast results. We examine our prospective customer’s documentation and processes and make recommendations that may assist them in lessening the financial damages of a bad tenant and recovering more net dollars.
After your due diligence, we can quickly onboard your firm if you feel that AAB is your best option. AAB has a short, non-legalese agreement for you to sign, and that's it. Use our secure SFTP(Dropbox) to send your tenants’ sensitive data to our firm. At a minimum, we would require a copy of the tenant rental application, signed lease agreement, statement of account and damages, and any court-awarded orders Indiana courts may have given you during the eviction process. We can begin the recovery process immediately.
Here are our answers to the typical questions when searching for the best landlord collection agency:
Does the collection agency report my past-due tenants to the credit bureaus? Unlike a collection attorney, a reputable debt collection agency should report your debts to Equifax, Experian, and TransUnion. If you retain a collection attorney directly, they are qualified to do the work but do not report to the credit bureaus. If your tenant moves out of state for work, the chances that your local collection attorney will be successful are meager.
Will the collection agency attempt to collect my claims before recommending the lawsuit? The short answer at AAB is 100% yes. We would much rather collect the outstanding debt voluntarily from your former tenant. It's faster, less costly to you and the tenant, and helps the tenant re-establish their credit faster.
My bad tenants never leave a forwarding address. How does the collection agency find them? At AAB, we subscribe to many information databases and credit bureaus. If your tenant seeks credit elsewhere in the country, they will pop up. If your tenant is not applying for credit, we roll up our sleeves and perform some old-fashioned skip tracing to locate them.
Can a collection agency collect if my tenant moves out of state? Unlike most collection attorneys, AAB can perform its work in almost all of the continental United States. If your tenant moves to a state where AAB is not licensed, we can still report to the credit bureaus and perform skip tracing tasks. If your tenant is gainfully employed and their credit rating warrants it, AAB will seek your permission to retain a collection attorney in that state.
Your Collection Agency for Indiana Landlord Debts
If you feel AAB will be the best collection agency for your Indiana landlord debts, call us at 1- 866-448-3936. If e-mail is more your speed, send us a note to firstname.lastname@example.org or contact us here. We'd be happy to discuss your concerns and help you decide if AAB is the right debt collection agency for you.