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Bad Debt Collections

Jan 31, 2023 at 03:29 PM CST
+ 1

Similar deal we are going through to the Global Processing thread. Have a customer that has always been timely with payments suddenly closed up shop, laid everyone off and we're stuck with a large freight bill. Local attorney says they are on the way to bankruptcy, several venders owed much more than us and we are in several several thousands. Local attorney says there is no money to pay anyone and thats just how it is, that stuff may end up getting sold through bankruptcy and we may end up with pennies on the dollar.

I've called 2 of the freight collection agency type of places that I'm sure everyone sees the emails from and was lied to both times about fees. Tell you one thing on the phone and its something diffent when I get the contract to sign. Is there a collection company out there that is honest that anyone knows? I've come to the conculusion that we aren't going to get any or very little of our debt paid, I'm willing to sign my debt over to one of the agenices to just not deal with it, and am willing to let them have thier fee as long as they are honest upfront on what the fees are.

Replied on Wed, Feb 01, 2023 at 08:44 AM CST
I dunno man, it seems this is only the beginning this year, and it may only get worse.