Here are some of the questions we hear every day. If your payment or debt recovery question is not here, reach out to us or call or toll-free at 1 888 797 7727.
When your account is processed by MetCredit for collection, the full amount is due and payable immediately. A short-term arrangement may be possible in some cases, but we must first review your financial situation. Speak to one of our helpful representatives at 1-888-797-7727 to find out more.
There are a wide variety of sources you can explore. In the case of lenders, credit is granted based upon many factors. If your credit rating has some issues, you may still be able to obtain a loan designed to help you consolidate or repay debt. See our list of alternative lenders or call our office at 1-888-797-7727 for assistance.
Everyone’s situation is unique, but chances are many people in circumstances similar to your own have received help from banks, family, relatives, private lenders or finance companies, or accessed retirement savings, GICs, government bonds, advances from employers or available holiday pay. Contact one of our representatives at 1-888-797-7727 if you need help finding additional options.
If the account has been settled in full or paid in full, email firstname.lastname@example.org and we’ll issue a letter stating your account has been satisfied. Please include your full name and account number.
Credit Bureau Questions
We update the credit bureaus daily, but their reporting may not immediately reflect changes. Your credit score is independently calculated by each credit bureau.
For information regarding your credit file or in case of a discrepancy, contact the credit bureaus directly at the following links:
Email email@example.com if you have a question or concern regarding a collection record that our agency has reported to the credit bureaus. Please include your full name and account number.
We’re very sorry about that. Telephone numbers are recycled and mistakes can happen across various databases. We don’t want to contact anyone in error any more than you like to be bothered. Use the report a wrong number form, and we’ll quickly correct our records. Important: if you are indeed responsible for a debt, it must be paid—and will continue to affect your credit score until it is. Falsely updating our information will not make the debt go away, and will lead to problems and barriers down the road (see next question).
Because collection agencies report to credit bureaus, until you pay the balance owing, your credit score will continue to be impacted. Not only will your credit rating be lower, but when you go to apply for a loan, mortgage or auto lease, the account in collections will be noted in the lender’s report and your application is likely to be declined. You may also be turned down from certain jobs or other opportunities where a credit check is required. It’s also important to know that paying the debt does not instantly remove the record (which can last for up to seven years), but the collection agency will update the file to show the account is paid in full—which looks much better to a lender than an unpaid file in collections.
Getting started couldn’t be easier. Just complete this simple form and a business debt collection specialist will contact you within one business day. The paperwork is minimal—we need to know about the debt, and have the documentation and authorization to collect it for you. We’ll walk you through the process step-by-step—and get you paid!
Yes—in fact MetCredit’s online file submission tool is the simplest and most comprehensive you’ll find. Its friendly interface puts all the records and information we need to collect effectively in one place, and you can use it day or night (something busy business owners value). You can also upload as many accounts as you need to. For our large B2C clients, we have a separate, highly specialized system to track and manage numerous consumer accounts for recovery.
You can send an account to a collection agency any time after the invoice due date. Traditionally that has been between 90 and 120 days past the due date in order to maximize the likelihood of successful recovery, but in challenging economic times the new recommendation is 60 days. To see how the recoverability of an account is affected by time, try our Debt Recovery Calculator.
The reality is, when a customer stops paying your bills, the relationship is already broken. When you send the file for collection, you are not only asserting the payment obligation (and you deserve to be paid), but you are creating an opportunity to reset the business relationship. Our agents are uniquely trained at at Solution-Oriented Recovery™ to collect with maximum efficacy while preserving your brand reputation and rehabilitating customer relationships. We help the customer find ways to pay, while establishing a high payment priority for your business in future transactions. Customers that don’t return are probably not the kind you can afford to have!