[MUSIC] Hi there. Michael Bovee with Consumer
Recovery Network, and thanks for tuning in to our
Debt Bytes Channel. We’re gonna talk today about
dealing with one of the larger debt collection agencies
in the country, by way of
United Recovery Services. And then they have a couple of
smaller companies that are part of their brand as well. But, URS is a contingency
debt collector, and let me explain
what I mean by that. When it comes to them collecting
on bills that you owe, say a credit card for example, they
are going to be reaching out to you by telephone and through
a collection notices in the mail that are designed to get your
respond to pay them something. If they are able to get you to
pay them something or pay your creditor, they’re gonna be able
to keep a portion of that. So their success, or them being
able to get paid anything, is sometimes and often, anyway, going to be contingent
upon getting you to pay. So in a weird way, when you’re
dealing with collection accounts that you are wanting to resolve, not that you
are trying to avoid. If you’re watching this video, or anything on the Debt Bytes
Channel for that matter, where you’re trying
to avoid debt, not many of our
videos focus on that. We focus on, okay, what can
I do to resolve my bills? So when your goal is to reach some kind of resolution you
can actually look at URS and kinda shift and go like,
well wait a minute. They don’t get paid unless
they get me to pay. So they’re kind of
part of your solution. They’re not part of the problem. So if you think about it that
way, or you’re approaching it with a realistic concept
of what you can afford and what you can get them to accept,
then you’re gonna find success. URS is actually probably
one of the easiest debt collection agencies
of its size to deal with. I’ve worked with URS over the
years resolving consumer debt. But we’re mostly known for being a DIY educational resource
at Consumer Recovery Network, so we’ve coached people through and
advised people through the negotiation process
with URS in the thousands. And throughout that
entire process, it is not common at all to have
somebody come back to me and tell me, or any of
the counselors over the years, that they had a problem
communicating with URS. You shouldn’t have any
problems that way. Here’s what I can share
with you as far as goals. So URS will collect
differently for different creditors that
they’re working on. So I was doing a file with Elan,
US Bank, and it was a business account. And the business folded and the individual at issue, the
account holder, had some other things that were positively
showing on his credit. And because of that it
became more complicated for me to get the amount or
the targeted savings that I wanted to get
when negotiating that balance. So take that and
apply it to your situation. Do you look like somebody
who a grenade blew up on your credit report,
shrapnel flew everywhere, and it’s in shambles? You look less collectible. Or do you look like somebody
who’s just hit a bump in the road, and is back on
track, and doing just fine. You look like somebody that
can afford to pay more. Maybe not in a lump sum, but there not always looking to get
money from you in one payment. That’s often not even
possible for most people. But they’re thinking, what can we collect from
this person over time? And if you have a mortgage
that your paying, and it shows on your credit report. They have real-time
access to view that. And you have a car payment. Those two things,
if you’re keeping those current, then you have
something on the ball. You have some kind of consistent
income coming in every month to maintain those two accounts. If you add in that you’re paying
a couple of other credit cards and just not the one that
they’re collecting on, but they’re being kept
current on your credit. You look largely like somebody
who just it was a momentary or temporary kind of setback, and
that they should be able to get you to pay as much
as all of your debt. And if they were to discount it,
it wouldn’t be by much. So then if you, I’m gonna
back this out a second. That’s what they can see from
resources available to them. Like I said, your credit report is one of the
main resources that they have. What they don’t have is
sometimes the fact that no, you’re still laid off,
you’re not working, you’re blowing through savings,
and have come through all of your savings to keep all
of those things current. You are just trying to hang on,
and you are hanging on by a thread. Maybe they don’t know that that
credit card that’s being kept current is because your cousin
borrowed your card to use for whatever, he needed the money. And he’s the one that’s actually
keeping that account current. They don’t know the things and
the hardships that you might be experiencing, and you can
share those things with them. That will help offset some
of how they picture you or how collectible they see you if
you’re not speaking to them. So sometimes it’s
of great import to share with them details
about your personal situation that can help lower what their
expectations are gonna be, or the amount that they’re gonna
hold out for to try and collect from you when you negotiate
a settlement with them. Having said that, do not share
things with them that give them even more fuel or more of an
indication that you can pay and they should hold out for
all the money. When you’re in touch with debt
collectors like URS, they have already built a picture,
or a collectability score, based on the stuff that
they can see about you, your credit report maybe. If you can share with them
things that make it tough to be you, financially,
that they can’t see, like the fact that
you’re still unemployed. Like that fact that your savings
you’ve blown through, and that’s why you were able to
keep the mortgage current. Now you can’t. In fact, your settlement amount,
if you’re able to do it, or reach that level, is actually gonna be money
that you borrow from your mom, or a brother, a sister,
a family member, friend. So when you are able
to communicate with them clearly about
your hardships and they support your asking them
for a better reduction, great. If you are unable to communicate
hardships that are consistent with them taking as
little as possible, you saving as much as you can. Sometimes you shouldn’t have
as much dialogue with them, in fact, sometimes it’s better
to work with a professional if you’re unable to communicate
clearly why it is that you need their client. It’s not their decision,
they have some collection goals. They have authorization to do
certain things and there’s certain floors they can’t go
underneath, or that they’re just not gonna budge from because you
have to give them a reason to. So be aware that URS is really
easy to communicate with, but giving you targets, okay, fine,
if they’re collecting for say, Chase, I might think 30,
35%, 40%. Same thing I would say
with Chase, right? If they’re collecting from
B of A, or other creditors, their variables are going to
change as to what they can do, and how low they’re gonna go. Be sure and communicate with
me in the comments if you have questions, comments, concerns, anything about dealing with
United Recovery services. And you can reach us at the toll
free number, our hotline. I’m at option two, if you want
to talk a little bit more about strategy and how you can
resolve debt with URS. See you on the next video. [MUSIC]