Our full collection service is completely on a commission basis. No collection means no charge. The full service consists of letters and phone calls as well as listing with Equifax Canada. With this service we will also, with your approval, file the account with the appropriate court for suit if neccessary.
If an overdue account requires legal action one of our collection agents will contact you requesting advanced court costs. Most of these additional court costs are added to the outstanding debt, so if our legal efforts are successful the upfront court costs you have forwarded will be recovered as well. In addition, our policy before suit is that we do a pre-suit investigation. This is done to ensure that the debtor has money or assets that we can seize after obtaining judgment.
Any accounts that you have listed with us may be cancelled or suspended with ninety days written notice, except where collections are active or legal action has been started.
Our rates are dependent on the status of each individual account you send us. The variables taken into consideration are;
- The age of the account
- The size of the account
- If it has been listed with a third party previously to us
- If it has been previously sued
- If the account will require legal action
Commercial Rates*
25% on first $5,000.00
15% on next $5,000.00
5% over $10,000
Retail (Consumer) Rates*
35% Regular Rate
17.5% Returned Merchandise Rate
* Accounts paid prior to listing or returned merchandise is half of regular rate. Accounts Under $300.00, or not at address given, or previously listed with a third party, or previously sued, or requiring legal action are forty five percent.
List your accounts with us…
To list your accounts with us all you need to do is print off a Full collection listing form and fill it out, sign the bottom and fax or mail it to:
Credit Network Inc.
P.O. Box 1665, 91 Geneva St.
St.Catharines ON
L2R 7K1
1888 684 1324
Fax:(905)688-4820
