This excerpt was prepared by Thomas W. Hamilton, Executive Vice President and General Manager of the American Lawyers Quarterly, Cleveland, Ohio. Copyright © 2009. All rights reserved.
RSD has a unique ability to service legal collections, because of their expertise in this field, the volume of legal matters they handle, and the resources they have available.
A member of RSD obtains legal services through the use of a law list. These lists provide a network of law firms who are educated and experienced in handling collection matters and provide their services on a contingency fee basis. These law firms work with the agencies within a strict set of rules (Operative Guides set forth by the Commercial Law League of America) and abide by the usual and customary practices particular to the collection industry, thus assuring a high level of service.
Furthermore, the law firms are carefully screened by the list who provide bonding coverage up to $3,500,000 per law firm to the agencies on all matters forwarded through this medium. Thus, the creditors are protected against the possibility of any loss due to fraudulent or dishonest acts. This bonding coverage is available only to collection agencies and law firms, not direct to creditors. Because of this bonding insurance coverage, the law lists continuously monitor and evaluate the performance of their listed law firms.
Need Help with Legal or Commercial Debt Collection?
Whether you need help with legal debt collection or commercial debt collection, RSD is here to help you get the money you’re owed. If you’re ready to start collecting, or even if you just need a few questions answered, call (248) 370-8160 or submit a contact form here.
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