FAQ’s – Collection Services/Electronic Check Processing

What makes Checknet different from other collection agencies?
We offer a customized variety of services to fit your needs. After all. . .isn’t that what YOU expect?

How do I know the progress of my collection accounts once they’re turned over?
You can be as involved as you’d like when assigning to our office. You can have complete access to the notes and activity on each account through our website. Call today to find out more!

What are the Statute of Limitations for my accounts?
4 years on accounts with no signature. 6 years on accounts with a signature.

What is the Statue of Limitations if I already have a judgment?
8 years from date of judgment.

How do I get paid? When do I get paid?
Most of our clients are set up on monthly remits, sent out between the 15th-20th following the month of collections. If you have many locations, contact our office for customized reporting.

When and how do I receive acknowledgments after you’ve entered them for collections?
You receive them within 24 hours if sent by email or fax. They can also be sent regular mail. Your choice.

Can I get client references, so I can talk with clients currently using your services?
Yes! Please call our office for a current list today.

Who receives the treble damages collected through civil litigation?
Each state law will be followed regarding treble damages upon collection. Call our office regarding YOUR state law guidelines on treble damages.

How does the collection agency get paid?
We only get paid when you do…upon collection of the account/check. All our business is assigned on a commission basis only.

Can I add collection fees to my accounts when I turn them to Checknet?
At your request. Please call our office so we can customize your contracts, allowing you to pass on the cost of collection to your customer.

Will you let us know before you sue our customer?
Yes! We can set up the management of your accounts as you see fit. Our collectors are firm, yet fair and professional with your customers, and believe civil procedures to be a last resort in retaining your monies.

Who handles Checknet’s litigation cases?
Law offices of Kevin G. Richards, located in Provo. Their firm is very experienced in collection law, and has well respected relationships with all court affiliations.

How soon can we start taking check-by-phone/repetitive billing payments?
You can start taking payments the day after your application is approved. Turn around time for approval is 3-6 days.

When am I billed for the check-by-phone/repetitive billing payments?
You can charge your customer the transaction fee to help cover your costs that come out monthly.

Can I implement a shopping cart on my website?
Yes. We currently have relationships with different shopping cart carriers to provide you with this service.

Is there a minimum or maximum amount of transactions that need to be processed monthly?
There is no minimum or maximum required transaction amount.

Does the process work with every type of electronic Point of Sale Terminal?
No, software is written for each terminal. We are certified on virtually every POS terminal on the market.

Does Checknet offer a referral program?
Yes, please inquire about our ISO opportunity.