Connecticut Commercial Collection Agency

Connecticut Collection Agency
Connecticut Collection Laws

Burt and Associates is a Collection Agency that specializes in Commercial Collections.

Full Debt Commercial Collection Agency Coverage for Connecticut CT

Bridgeport | Greenwich | Hartford | New Haven | Stamford

Burt & Associates a national debt collection agency with full collection coverage for Connecticut. We invite you to review our services and feel free to contact us with any questions or comments you may have.

Contact Burt & Associates

By Phone:
Toll free: 1-877-740-7839

Or Fill out our Collection Agency Contact form

To Get A Free Quote, know our Collection Rates or call us toll free 1 (877) 740-7839 and get started today!

Connecticut Collection Laws

We hope that this information on Connecticut Collection Agencies assists you. The following is a summary of the Connecticut Collection Laws. The information here may not be 100% accurate and should not to be construed as legal advise.

• Connecticut Collection Laws Interest Rate
  Legal: 8%
  Judgment: 10%
  
  
• Connecticut Collection Laws Statute Of Limitations (Years)
  Open account : 6
  Written Contract: 6
  Oral Contract: 3
  Domestic Judgment: 20/25
  Small Claims Judgment: 10/15
  Foreign Judgment: 20
  
  
• Connecticut Collection Laws Bad Check Laws (NSF) (Civil Penalty)
  Personal liability of signatory on corporate claims unless signed in corporate capacity.



• Connecticut Collection Laws General Garnishment Exemptions
  25% you may garnish disposable earnings each week, or 40 x Federal minimum hourly wage, which ever is less.
  
  

Connecticut Debt Collection tips

Effective collections begin with organization. This doesn’t necessarily mean just knowing who the debtor is and how much they owe, it also means gathering all the necessary information available to you that will answer a number of questions prior to you picking up the phone and calling your debtor. As an example, it is not only good to know who is the responsible party for paying your invoice but what is the best day to call that person and what time of day is best to catch him/her in the office. This information should be reflected in the debtor’s file, which you should have obtained when asking that very question on the credit application the debtor completed before doing business with your firm. “Who is the responsible party for getting invoices paid?” “What is the best day to contact this individual?” and “What is the best time of day to contact this individual?” Also, having the correct phone number (and extension) to this individual should be obtained from the credit application. Once you have this information, review any prior calls made. Note any commitments or comments the debtor made. This will give you leverage in your collection efforts should commitments not have been met.

While there are many other factors that go into organizing your collection call, remember that writing down everything the debtor says during your call and reviewing this information before your next call, will give you a sense of not just what to expect but what parameters and challenges you will face when the debtor gets on the line.

You can be assured that we are working hard to provide your business with the needed financial and accounts receivables services you have come to expect from Burt & Associates. As always, should you have any questions, comments or suggestions, please do not hesitate to contact your National Account Executive today.

With warmest regards,

Jerry Curtis
President & CEO

Educational Tidbits For Today's Credit Executive
Supplementing a Scanty Credit Report

Credit reports that contain little information are frustrating for any credit/finance executive who's considering extending open account credit to a new debtor or increasing its exposure to an existing customer. What can you do when debtors refuse to furnish a credit reporting agency the information you need to make a sound credit decision? First of all, credit reports should always be pulled on new debtors that ask for extensive open account lines of credit. For existing customers, however, there is often no need to pull a "comprehensive" credit report on a company if you have one that is less than a year old and if you have done so in the past. Many credit reporting agencies charge you full price for these reports that often contain little more than trade references. Why pay for something you know you will not be able to use! What to do?

Begin to paint a picture of the company and its principals. Even if a debtor refuses to furnish financial statements, antecedent information, etc., the extensive searching abilities or engines such as Google and others can help you find information on officers, individuals and companies that can often begin to paint a picture of the company and of its creditworthiness. For example, searching for information on XYZ Company may generate a local newspaper article on XYZ winning a prestigious environmentalist of the year award. The article may also give you information on the principals and business that gives you a "sense" this company may be worth selling to. This often takes time, but if you are considering dramatically increasing a debtor's line of credit it is often time well spent.

The Credit Manager’s Q&A Corner

QUESTION: Explain what is meant by a "significant-risk" company.

ANSWER: A significant-risk company is one that has known or suspected financial weaknesses such as ongoing losses, a working-capital deficit that is considered higher than normal, a negative and worsening tangible net worth, and other history of judgments against it, consistent very slow payment habits, etc.