Frequently Asked Questions

What is the minimum balance that can be placed for collection?

Accounts greater than $100 are preferred. 

Are there any signed contracts or money up front to start collection procedures?

We only require an assignment agreement. This agreement only states the contingent collection fee and our procedure. There is no obligation for a specific time period or quantity of accounts.  

Are the delinquent accounts reported to the credit bureau? 

Yes, accounts with balances greater than $50 are reported to TransUnion Credit Bureau. 

What is our first step in the collection process? 

Accounts placed with our agency are entered, letters generated, calls are initiated and payment arrangements are attempted. 

Is your office still entitled to a fee if the debtor makes payment to our office after the account is sent out to PSNY? 

Yes, we would still be entitled to our contingent fee on the payment if debtor initiates payment to your office. 

Who is responsible for Court Costs?  

Upon acceptance of our client’s written intent to initiate legal action, an account is placed with our collection attorney. Our clients are responsible for filing fees, execution fees, and process server fees. 

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Selecting a Professional Collection Service

Getting the most from your collection agency requires cooperation and communication.  The following are some key issues that can help determine the quality of an agency and increse your success in the future...

Market Knowledge
Make sure the agency has the skills and knowledge necessary to collect on your particular type of account

Another key step in selecting a reputable agency is checking the references and reliability of the agency with its other clients.

Professional Credentials
Determine if the agency holds membership in state or national trade associations such as the American Collectors Association


Professional Services of NY, Ltd.

2701 Middle Country Road * Suite 8
Lake Grove, New York 11755-2117

Phone: (631) 758-7988