FAQ’s
What do you charge?
The cost of a collection can vary dependant upon the type and age of the claim and the volume of accounts assigned annually. Actual rates can be as low as 5%, the average running at 20% and are always contingent on “no collection, no charge”. There are no up front fees or membership dues. Some specific charges exist for registrations and legal proceedings but are only incurred with your written consent.
Is there a contract necessary to use your company?
Our clients are only required to sign a listing agreement that acknowledges our rates and authorizes us to act on our clients behalf.
Do you only deal with clients with volumes of accounts?
We have no requirement for any volume of accounts and regularly represent clients with only one account to assign.
Is there a minimum amount you will accept for collection?
Accounts for as little as $25.00 are accepted in our Small Balance Program.
Do you accept accounts where legal action has already been taken?
Yes, we will accept accounts once they are reviewed and deemed potentially collectable. There is separate pricing for these types of accounts and all legal charges are pre-approved by our client.
How long have you been in business?
We are the longest standing Nova Scotia based collection service provider and have been in business since 1969.
How can we place an account with you for collection?
You can fax us your account information at 902-895-5633, or once registered with Keltic Collections you can use our on-line assignment form. You can also Contact Us at 902-895-1675 (800-653-4539 toll free in Canada) for additional information.
What area’s do you collect in?
We collect throughout Atlantic Canada from our collection centre in Truro, Nova Scotia. We are also networked with a variety of service providers enabling coverage throughout North America. We provide our clients with full Canadian coverage daily.
When and how are monies collected paid to us?
Our standard trust remissions are done monthly, generally by the tenth working day of the following month by statement and cheque. Our systems enable us to customize trust remissions to meet our clients needs for early and special statements when required. Remissions can be direct deposited when required.
How old of a debt will you accept for collection?
The statute of limitations can vary from six years to only two years depending on your jurisdiction. Most accounts assigned are less than a year old at the time of assignment. In many cases the age of the account will effect the rates charge upon recovery. The less aged the account assigned the greater possibility of recovery. Accounts with judgements taken prior to collection assignment may have a recovery window of twenty years. You can also Contact Us at 902-895-1675 (800-653-4539 toll free in Canada) for additional information.
Can the collection costs be charged to the debtor?
No, in Nova Scotia (as in most Canadian Provinces) collection fees may not be charged to the debtor and are the responsibility of the creditor.
Do you handle skip accounts?
Yes, quite often the ability to locate and communicate with the debtor is the greatest challenge. At Keltic Collections each of our Collection Officers are skilled tracers utilizing specialized databases of information to establish communication. We focus on both the art and sciences of effective tracing and are highly successful in debtor location leading to recovery. We also have dedicated trace personnel with the primary mandate of debtor location.
Do all collection assignments get reported to the credit bureau?
No, our credit reporting agency is Equifax Canada and they will not accept claims for less than $100.00 and/or claims with incomplete information. In some cases the nature of the account does not enable us to report the collection assignment to the credit bureau, Contact Us at 902-895-1675 (800-653-4539 toll free in Canada) for additional information.
Do you provide any other services?
Yes, we provide Personal Property Registrations and Personal Property searches, as well as full bailiff services covering both process service and collateral recovery (repossessions). We also provide tracing services for law firms.