What is a typical collection cycle?
Have you ever gone to the fair and tried to guess how many jelly beans are in that outrageous oversized jar? Now can you guess how many chicken nuggets are in a five piece order? When your creditors know that you have hired a debt settlement company you just became a chicken nugget. The normal collection cycle typically takes your account through three different buckets over the initial, 30, 60 and 90 day cycle. After that period of time, the accounts will either be out-sourced to a collection agency for an additional 90 to 120 days or will be handled internally going through two more buckets of 120 and pre-charge-off. Charge-off typically occurs at 180 days.
Related Questions
- Can we use the HHW 16th Cycle infrastructure grant funds to fund one of our HHW collection events if it also includes sharps/u-waste collection?
- Can we use the HHW 15th Cycle competitive grant funds to fund one of our HHW collection events if it also includes u-waste collection?
- Can we use the HHW 15th Cycle Coordination Grant funding to coordinate a county-wide u-waste collection event?
