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What is Debt Recovery?

Debt recovery is used when a bill or bills have gone unpaid and the creditor is having trouble collecting the money themselves. Therefore, they outsource to a third party to recover the debt for them. Southwest Recovery Services is one of the best debt collection agencies, and we are headquartered in Dallas, Texas. However, we offer nationwide debt recovery on a contingency basis. This means that our agency doesn’t get paid for our services until we have had a successful recovery on your end. Let’s take a look at some of our core principles that make working with us a beneficial solution for your business. 

  • At no cost to our client, we report the status of their credit accounts to all credit reporting agencies
  • We use our knowledge of federal, state, and local debt recovery laws to recover ethically
  • Clients pay no upfront fees to refer an account for collection. Clients pay only a fixed contingency rate only after we recover the debt as we mentioned above
  • We will seek legal action through the appropriate courts if necessary to collect on a bad debt. 
  • Our team uses the latest technology to collect, such as skip-tracing techniques 
  • Our customer service is of the highest quality standards and we uphold your reputation

Professionally Trained Agents

Debt recovery can be friendly. We always treat people with respect and professionalism. Money is a sensitive topic and it needs to be approached in an appropriate manner. That is why we invest in professional training for our agents. Collecting debt is no easy job, and we always do it efficiently and respectfully. Since Southwest Recovery Services is based in Dallas, Texas, our friendly nature and service-oriented approach comes naturally to our agents. They instinctively know that treating debt obligators with courtesy and respect generally results in the fastest and best recovery results.

We service all types of industries, whether they service residents or other businesses. Every client is different, which is why our agents are trained to handle every type of situation and persona. 

When Should You Outsource to a Debt Recovery Agency?

A debtor has 30 days from the bill due date to pay the bill. If they don’t, their debt will be reported to the credit bureaus. During these 30 days, the creditor will try to contact the debtor by phone, email, mail, etc., and let them know that their payment is overdue, as well as if there are any fees. Ideally, this situation would be settled within this timeframe, and the debtor can explain their situation. Then, you could set up a payment plan with them.

However, after 30 days, the debt is usually handed to another department where they deal with delinquent debt and report it to the credit bureaus, and even shut down the debtor’s credit card account.

After 180 days, a creditor will outsource to a debt collection agency to take care of the debt. However, Southwest Recovery Services recommends outsourcing to us sooner. After 90 days, the chances of recovering the debt are much lower. If possible, we would advise you to connect with us within the 30-day period for the best results.

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    Southwest Recovery Services is a national collection agency with offices in Texas, Oklahoma, Missouri, Ohio, Florida and Georgia.

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