1. What is a Flat Fee Collection Service?
Available only online, the flat fee collection service will print and mail a collection letter or series of collection letters to your delinquent tenant. The first letter is mailed the next business day following your entering the information. The letters will come from Rent Recovery Service, a licensed collection agency, but instructs the debtor to pay your directly. There are no additional costs or commissions due us.

The flat fee service accelerates the collection process by putting into motion the initial steps of collection instantly. Many delinquent tenants will recognize that you have elevated your concern for the delinquency to the level of a collection agency and will respond with payment. This is an excellent, inexpensive and efficient tool to motivate a tenant to maintain a clean credit profile and pay arrearages.

2. Do you Report to the Credit Bureaus?
This service reports to all three major credit bureaus any balance a tenant owes to a landlord. The tenant debt is reported to Experian, Equifax and TransUnion for up to seven years and will remain on their record unless the debt is paid off or the landlord closes the account.

For less than the price of lunch, you will greatly increase your chances of collecting the debt you are owed through collection letters and by reporting said debt to the credit bureaus - just as any other creditor would do.

3. Are all files reported to the credit bureaus? 
Unless otherwise requested, all debtors are reported to Experian, Equifax and TransUnion. This combined effort significantly impacts the debtor's credit and ability to obtain credit or rent elsewhere. 

4. How long does it take to collect from the average debtor? 
A very fast collection is about six months. Our average collection time is approximately eighteen months and many files can take several years. Frequently, someone who has recently been evicted may be unemployed and have no assets. Consequently, we must wait for them to get back on their financial feet and begin to earn a living. Since we never close an unpaid file, we are continually searching for new assets and monitoring the debtor for any changes in his financial life. 

5. Are older judgments too hard to collect?
No. In fact, many times an older judgment is easier to collect than a new one. Very often, a debtor has forgotten about an old judgment and hopes you have too. They have gone ahead and opened bank accounts, acquired real estate and other assets. In most states these assets can be levied or repossessed. Additionally, debtors that had financial problems when they were involved in the lawsuit may have repaired their financial lives several years later. 

6. What if I don't have a judgment? 
Although the likelihood of a successful collection is not quite as strong with a "skip" or non-adjudicated debt, we encourage you to place them with us. They will still be reported to the major credit bureaus while we pursue the collection as aggressively as the law allows. 

• Increases the likelihood you will get paid.
• Impairs the debtor’s ability to obtain credit for a credit card, auto or another rental property.
• Reports the debt as a collection account to Experian, Equifax and Transunion.

8. When can I report a debt to the credit bureaus?
You may enter a debtor in your online account the 31st day after move out.

9. How long does it take for the debt to appear on the debtor’s credit report?
As a part of the service we send the debtor a letter (or series of three letters) instructing him/her to pay the amount owed directly to you.  Thirty days from the date we send this letter, the debt will go into our cue to report to all three bureaus the 1st day of the following month.

10. How long does a debt stay on the credit report?
A debt may remain on the credit report for up to seven years from the date the debt was incurred (move out date).

11. I do not have a court judgment; may I still report the debt?
Yes, as long as you can substantiate the debt you may report judgments and non-judgments.  

12. How does the debt appear on the credit report?
The debt will appear as a collection account.

13. What do I need to report a debt?
To report a tenant debt you will need copies of the signed lease and move out statement, itemizing all charges.  The rental application would also be helpful.  To enter the debtor into your online account you will need the debtor’s name, total amount owed and his/her address.  The debtor’s Social Security number is also very helpful.

14. What if I do not know the ex-tenant’s current address?
If you do not know the debtor’s current address you can use his/her last known address or do an address history search for $5.50. To run an address history search call or email us with person's name, last known address, ssn and date of birth. If you don't have the tenant's date of birth we may be able to help you obtain that information. If you don't want to run an address history search you can use the last known address (which may be your rental property). Our letters are mailed First Class mail and will be forwarded if the debtor has a forward order at the Post Office.  If the letter is not delivered, it will be returned to you because your address will appear in the return address window.

15. I have several tenants that owe me money from two to three years ago.  May I report these debts?
Yes you may reports these debts, again as along as you can document the debt.

16. Who is the letter, or letters from and what is included?
The letters are mailed on Rent Recovery Service letterhead.  We print and mail the letters.  We include an envelope for the debtor to mail you payment directly.  Attached to the letter is a tear tab similar to a credit card statement. Click here for an example of the letters sent in the three letter package.

17. What does the service cost?
Our price for sending one letter and reporting the debt is $16.95.  The same package plus the sending of two more collection letters is $26.95.  The three letter package is recommended if you know your debtors current address.

There are never any additional fees or commissions.  Just the one time charge when you enter the debtor.