Why should I use Adams, Evens, & Ross for staffing debt collection?

Adams, Evens, & Ross (AER) has over 33 years of experience collecting past-due debts exclusively for the staffing and recruiting industry. We have served more than 4,000 staffing and recruiting firms, placing over $1 billion in debt. Our industry specialization means we understand the unique challenges staffing firms face when clients don't pay. We also maintain the industry's most comprehensive credit alert — a database that tells you which companies are currently in debt before you place workers with them.

What is your fee structure for collecting staffing debt?

AER operates on a strict 'No Collection, No Charge' policy. You only pay a fee if we successfully collect the debt. If we do not collect, you owe us nothing. Our fee is a percentage of the amount collected. For specific fee details, you can review our fee agreement or book a free consultation.

Can AER reduce their collection fee?

Our fees are structured based on the age and complexity of the debt. In some circumstances fees may be discussed during your consultation. We encourage you to book a free 30-minute call with our team to discuss your specific situation.

Will collecting a staffing debt show up on my client's personal credit report?

AER specializes in commercial (business-to-business) debt collection for the staffing industry. Collection activity is typically reported against the business entity rather than the personal credit of an individual. For details specific to your situation, consult with our team during a free consultation.

Who can Adams, Evens, & Ross help with debt collection?

AER works exclusively with staffing agencies, recruiting firms, payroll funding companies, and staffing industry associations that are owed unpaid placement fees or staffing invoices by client companies. We are not a general collection agency — our expertise is entirely within the staffing and recruiting industry.

How will I be kept updated on my collection account?

AER provides regular updates on the status of your accounts. Once you place an account with us, you will receive communication on collection activity and any payments received. You can also reach out to our team directly with questions at any time.

Can I tell others that a client has not paid me?

There are legal guidelines around disclosing that a client owes you money. AER can advise you on how to handle this appropriately. Our credit alert service allows us to notify other staffing firms within our network that a particular company has an outstanding debt, which helps protect the broader industry.

What if I don't have a signed contract with the client who owes me money?

Not having a signed contract does not necessarily prevent collection. AER has experience recovering staffing debts in situations where formal contracts are missing. We evaluate each case individually and can advise you on your options during a free consultation.

What should I do if I receive a letter from the debtor's attorney?

If you receive a letter from the debtor's attorney after placing the account with AER, forward it to us immediately. Do not respond directly to the debtor's attorney. AER will handle all legal correspondence on your behalf through our nationwide network of attorneys.

What happens if the debtor mailed a check before I placed the account?

If a check was already in the mail when you placed the account with AER, notify us right away. You will need to deposit the check and inform AER of the payment. Depending on the timing and what was agreed, this may affect the account status. Our team will guide you through the next steps.

Can I close a collection account after it has been placed with AER?

Yes, you can request to close an account that has been placed with AER. However, depending on the work already completed, there may be considerations to discuss. Contact your AER representative to review the status of the account before making that decision.

What should I do if the debtor contacts me directly?

Once you have placed an account with AER, refer any direct contact from the debtor back to us. Do not negotiate or accept payment directly without first notifying AER. Direct communication from debtors after placement should be handled through our team to protect the integrity of the collection process.

I received a check from the debtor — what do I do?

If you receive a check directly from the debtor after placing the account with AER, deposit the check and immediately notify your AER representative with the amount and date received. AER will then calculate the appropriate fee based on the amount collected.

When do I get paid after AER receives a payment from the debtor?

Once AER receives and clears a payment from the debtor, your portion of the collected amount is remitted to you promptly. The exact timeline is outlined in the fee agreement. AER works to ensure you receive your payment as quickly as possible after funds are confirmed.

How do I get started with Adams, Evens, & Ross?

Getting started with AER is simple. You can book a free 30-minute consultation with Wilson Cole at https://www.staffingdebt.com/aer-consult/ or go directly to https://www.staffingdebt.com/aer-information/ to place an account. AER will walk you through the fee agreement and next steps from there.

Tips For Recruiters: Consolidating Debt With Bad Credit

By Leah Funk | September 3, 2024

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Debt consolidation can be a valuable tool for recruiters struggling with multiple debts, even if they have bad credit. This applies to both personal debt and business debt.

It allows individuals to merge several debts into a single loan with one monthly payment, potentially reducing interest rates and making debt management more straightforward. However, navigating debt consolidation with bad credit can be challenging.

Tips For Recruiters on Consolidating Debt With Bad Credit

Assess Your Financial Situation

The first step in consolidating debt with bad credit is to assess your financial situation. Take a comprehensive look at all your debts, including credit cards, personal loans, and other outstanding balances.

Calculate the total amount you owe and the interest rates for each debt. This assessment will give you a clear picture of your financial status and help you determine if debt consolidation is the right choice for you.

Check Your Credit Score

Even though you may have bad credit, it’s crucial to know your credit score before seeking a consolidation loan. Your credit score will influence the interest rates and loan terms you're offered.

Obtain a copy of your credit report from the major credit bureaus and review it for any errors or discrepancies. Correcting mistakes on your credit report can sometimes improve your score.

Explore Your Consolidation Options

There are several debt consolidation options available, even for those with bad credit. Some of the most common include:

Personal or Business Loans - Personal or business loans are a popular choice for debt consolidation. While getting a personal or business loan with bad credit can be challenging, it’s not impossible. Look for lenders who specialize in loans for individuals and businesses with poor credit. These loans may come with higher interest rates, but they can still offer a more manageable repayment plan than juggling multiple debts.
Home Equity Loans or Lines of Credit - If you own a home, you might consider a home equity loan or line of credit. These loans use your home as collateral, which can make them easier to obtain even with bad credit. However, be cautious with this option, as you risk losing your home if you default on the loan.
Credit Card Balance Transfers - Some credit card companies offer balance transfer options that allow you to move high-interest debt to a card with a lower interest rate. While this can be a good option, it’s important to read the fine print. Balance transfer cards often come with introductory rates that increase after a certain period.
Debt Management Plans - Working with a credit counseling agency or credit collection agency can be another effective option. These agencies negotiate with creditors on your behalf to lower interest rates and create a repayment plan. While this isn’t technically a loan, it consolidates your payments into a single monthly amount.

Compare Lenders and Loan Terms

Once you've explored your consolidation options, take the time to compare lenders and loan terms.

Look for lenders who are willing to work with individuals with bad credit and compare interest rates, fees, and repayment terms. It’s essential to read the fine print and understand all the terms and conditions before committing to a loan.

Improve Your Credit Score

While consolidating debt with bad credit is possible, improving your credit score can make the process easier and result in better loan terms. Here are some tips to help boost your credit score:

Pay Bills on Time: Consistently paying your bills on time is one of the most effective ways to improve your credit score.
Reduce Credit Card Balances: Aim to keep your credit card balances below 30% of your credit limit.
Avoid New Credit Inquiries: Limit the number of new credit applications, as each inquiry can temporarily lower your score.
Correct Credit Report Errors: Ensure your credit report is accurate and dispute any errors you find.

Create a Budget and Stick to It

A crucial aspect of debt consolidation success is creating and sticking to a budget. A budget will help you manage your finances, ensure timely loan payments, and prevent further debt accumulation. Here’s how to create a budget:

List All Income Sources: Include your salary, freelance work, and any other income streams.
Track Monthly Expenses: Record all your monthly expenses, including rent/mortgage, utilities, groceries, transportation, and discretionary spending.
Identify Areas to Cut Back: Look for non-essential expenses that you can reduce or eliminate.
Allocate Funds for Loan Repayments: Ensure you have enough funds to cover your consolidation loan payments each month.
Set Financial Goals: Establish short-term and long-term financial goals to stay motivated and on track.

Seek Professional Advice

If you’re struggling to navigate debt consolidation on your own, consider seeking professional advice.

Financial advisors and credit counselors can provide valuable guidance tailored to your specific situation. They can help you explore your options, negotiate with creditors, and create a realistic repayment plan.

Stay Committed to Your Repayment Plan

Once you’ve consolidated your debt, staying committed to your repayment plan is crucial. Missing payments or accumulating new debt can jeopardize your financial progress. Set up automatic payments if possible to ensure you never miss a due date.

Additionally, avoid using credit cards or taking on new loans while you’re paying off your consolidation loan.

Conclusion

Consolidating debt with bad credit may seem daunting, but with the right approach and commitment, it is achievable.

By assessing your financial situation, exploring your options, improving your credit score, creating a budget, and seeking professional advice, you can successfully consolidate your debt and work towards financial stability.

Remember, the key to success is staying committed to your repayment plan and making informed financial decisions along the way.

If you need help with your financial situation, please feel free to reach us at staffingdebt.com.

Leah Funk

As the National Account Sales Manager at Adams, Evens, & Ross, I have over 28 years of experience, and specialize in providing credit and collections solutions tailored to the unique needs of staffing and recruiting firms. Also, I'm the Executive Director of the United States Staffing Association (USSA), where I lead efforts to support, educate, and advocate for professionals in the staffing and recruiting industry across the country. In this role, I work closely with industry leaders to develop initiatives that support and give back to the staffing and recruiting community.

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