The credit card industry has experienced enormous growth over the last few years. Interestingly, as the industry continues to grow; more consumers fail to pay their dues on time, resulting in many delinquencies for credit card companies. Failure to collect such delinquencies can turn into bad debt. Credit card companies can hire credit card debt collection agencies to stay delinquent-free.
At Vital Solutions, we help you recover your delinquent accounts with end-to-end multichannel credit card debt recovery services. We're a nationally-licensed debt collection agency; we have the experience, strategies, and technology to contact, negotiate and collect payments, irrespective of the age or stage of your delinquent accounts.
Our efficient and customized credit card debt recovery efforts enhance your profitability. Our company utilizes the latest tools and technology, allowing us to ensure both early-stage and late-stage delinquency collections. As a multilingual, multichannel credit card debt collection agency, we have the latest tools, technology, and infrastructure. These allow us to ensure both early-stage and late-stage delinquency collections in a timely and FDCPA- compliant manner.
Early-Stage Delinquency Collections
Late-Stage Delinquency Collections
What Makes Our Credit Card Debt Collection Services Stand Out?
We have a dedicated team of experienced credit card debt recovery experts who work towards ensuring 100% recovery while delivering a high-quality customer experience.
We ensure 100% quality assurance for all our credit card collection calls, complete with call recording and scorecard ratings. As a result, all our calls are compliant with the regulatory standards.
As a credit card debt collection agency, we specialize in prime time calling and follow-up within 2-3 days for your early-Stage credit card collection.
We use skip-tracing technology to correct bad phone numbers, increase right party contact (RPC) and minimize the delinquency rolls. Also, our first contact resolution strategy helps us increase your bottom line.
We offer dynamic self-cure and web-based payment solutions to enable your customers with a way to make prompt, convenient payments in guaranteed forms.
Our standard credit card debt collection process involves sending automated notices and messages to your delinquent credit card account holders as warranted.
A credit card debt collection agency will negotiate a mutual settlement to resolve your outstanding balance. The debt collection agency will remit the fund, and the account gets settled with no further balance due.
Avoiding credit card debt collection may lead to a lawsuit against you. On the other hand, failure to pay debt may lead to legal compliance; however, if a debtor cannot agree, it's best to seek help from the collection agency or negotiate.
Till six years from the last payment, a debt collector has the right to collect. However, after the period ends, a debt collector may no longer come after and sue you for an unpaid balance. Meanwhile, a consumer may inadvertently restart the old debt; as a result, the six-year period can start all over again, even when a significant part of the time gets lapsed.
The credit card company may close the account if a debtor continues not to pay. The issuer may eventually sell the debt to a collection agency. Your account gets reported as past due to the credit bureaus. Reporting can significantly affect credit scores. Meanwhile, depending on the collection agency, they may add a late fee.