Local Phoenix debt collection that Puts People First
Despite a growing job market in technology, healthcare and manufacturing, Arizona residents often owe more than they earn, making collections in the Valley of the Sun a slow, difficult and costly process for creditors.
With local experts on your side, recovering your funds is fast and easy.
Cedar Financial offers:
Whether your debtor is in Maricopa County or elsewhere, we can collect. Consumer or commercial, large or small, we get results.
See why Fortune 500 companies trust us with their accounts in Phoenix.
Get an instant quote today.
Compliance can be a complicated matter in the United States, where consumers are protected by a variety of strict federal and state protection laws. Without a trusted, licensed Phoenix collection agency on your side, you could face increased compliance risks, lost funds and costly damages to your reputation.
Phoenix debt collection agencies must adhere to the Arizona state debt collection law in addition to the federal Fair Debt Collection Practices Act (FDCPA). To collect debts in Phoenix, collection agencies must be licensed and bonded.
Arizona law roughly mirrors the FDCPA, with one key difference: it is a criminal statute (Ariz. Code § § 32-1001 to 32-1057).
This means that violation is a class 1 misdemeanor and debtors can report violations of the statute to the local Phoenix or Maricopa county prosecutor. Under the Arizona criminal statute, debtors cannot sue the debt collector for breaking the law; but they can still sue for money damages under the FDCPA.
Cedar Financial is licensed and bonded to collect debts in all 50 U.S. states, including Arizona. As an ACA International accredited agency, we are constantly reviewing the latest state and federal regulations to reduce risks to your business.
Contact us today to protect your business while recovering more funds in Phoenix.
When debt balances surpass income levels, it can be hard for consumers to repay their debts.
With Arizona residents carrying a per capita debt load of over $53,000, creditors may have a harder time recovering what’s owed to them in Phoenix.
According to research from The Ascent, Arizona is 4th on a list of 15 states that have a higher per capita debt balance than per capita income, with personal debt loads nearly $10,000 more than residents’ annual income.
|Per capita income||Per capita debt balance||Difference between per capita income and debt|
A 2019 WalletHub report ranks Phoenix among the worst of 2,564 U.S. cities rated on the sustainability of residents’ credit card debt. With the worst cities scoring 99, Phoenix fell in at No. 80. With a median credit card debt balance of $2,633 and a cost of $1,046 to pay off debt, the average payoff time in Phoenix is estimated at 53 months and 10 days.
To avoid the risk of nonpayment, it’s important to work with consumers on a plan for repayment early on.
Cedar Financial can help you give your Phoenix debtors the affordable options they need to pay off their debts sooner. Our transparent, People-First Approach is proven to increase recovery while creating more positive payment experiences for your customers.
As one of the fastest growing cities in the country with an expanding tech and manufacturing market, Phoenix boasts a younger, more active population less likely to have medical debt than most Americans – however, when they do have it, they tend to owe more.
According to a 2018 FINRA survey, while only 18% of the adult population in the state has unpaid medical bills (the 11th lowest in the country), the median amount of Arizona medical debt in collections is $888 – the 6th highest in the country and well above the national median of $694.
Factors contributing to high Phoenix medical debt balances include a 10.6% uninsured rate (10th highest in the country) and 17.8% of adults in fair or poor health (16th highest).
With higher balances and a reduced ability to pay, Phoenix patients may feel they cannot afford their balance and will pay very little or nothing at all.
The longer high-balance accounts go unpaid, the less likely you are to collect – which is why it’s essential to have an effective collection strategy in place.
Cedar Financial’s “Patient-First” Phoenix medical debt collection services can help you reduce operational costs and increase revenue, while improving patient satisfaction rates by:
Our early-out Patient Outreach Program has saved hospitals and medical providers thousands of dollars in resources and has a 50% success rate.
Getting paid for your care doesn’t need to be painful or expensive – request your free quote today.
While every effort is made to resolve accounts amicably, sometimes a firmer approach is needed. Here’s what you need to know about legal process in Phoenix.
To file a debt collection lawsuit in Phoenix, the creditor or debt collector (plaintiff) files a Complaint with the Maricopa County clerk of the court, then serves a copy of the Complaint and Summons to the debtor (defendant).
Service of process must be made by a sheriff, a sheriff’s deputy, a constable, a constable’s deputy, a private process server certified under the Arizona Code of Judicial Administration.
The debtor then usually has 20 days to file an answer. If the case is not settled, it goes to trial, where the judge makes a decision based on evidence presented.
If your debtor won’t pay, Cedar Financial offers access to top local debt collection attorneys in Phoenix to pursue your claim in court.
We carefully vet your claims for collectability, place your claim with a vetted Phoenix debt collection law firm, then manage your claim from start to finish, including skip tracing, asset location, filing a lawsuit, obtaining a judgment and enforcement, ensuring the best outcome for your case.
Contact us to explore low-cost legal options today.
Winning a judgment doesn’t guarantee that you’ll be able to collect your money. Fortunately, there are several ways to enforce a judgment in Phoenix, including:
At Cedar Financial, we don’t stop at obtaining a judgment in Phoenix court – if your debtor doesn’t pay, our in-house legal collection team will follow through with enforcement actions for the best chance of payment post-litigation.
Request a quote to start collecting on your judgment today.
The Governor of Arizona recently signed into law House Bill 2240, extending the Arizona judgment statute of limitations from five to 10 years. This means that judgment creditors will have more time to collect and will not need to renew judgments so often.
The new law applies to any judgments entered on or after August 3, 2018. Judgments can be renewed before the expiration date for an additional 10 years.
If you’re not able to enforce your Phoenix judgment right away, Cedar Financial’s professional legal collection team can help.
We periodically review the debtor’s assets, credit, and overall ability to pay for the best chance of recovery over time. We also keep track of renewal dates so your judgments won’t expire.
|Unpaid Invoice Interest Rate||10% or rate agreed to in contract.|
|Can Collection Fees be added?||Yes, if included in contract.|
|Statute of Limitations/Prescription||Verbal agreement: three years.
Written agreement: six years.
|Post Judgment Interest Rate||If not provided in the contract, 10% or 1% plus the prime rate, whichever is lesser.|
|Judgment Expiration||10 years.|
|Can judgment be renewed?||Yes, for another 10 years.|
We offer on-the-ground representatives in Phoenix who understand the debt collection practices that work to support full recovery of your funds.
We are licensed and accredited to collect your debts in Phoenix. With over 30 years of debt collection experience, we adhere to all local, state and federal laws, including the Fair Debt Collection Practices Act (FDPCA) and Arizona Fair Debt Collection Laws, using a fair, but firm approach for faster recovery of your funds.
For pre-legal services, we work on a “no collection – no fee” basis, so you will only pay when your funds are recovered. For legal services, we offer low-cost options.
We have no minimum value or volume that is required to place accounts
We service consumer and commercial debts, large or small, across many industries.
It varies. Factors such as the age of the account and the type of debt being collected must be taken into account, along with the specific circumstances of the claim. Because we know timely results are important to you, we guarantee an update on your claim within 30 days.
Once we receive your accounts and the proper documents to validate the claim, our representatives will begin by skip tracing the accounts to locate the debtor. We will then immediately start working the account via phone and mail and issue a written demand notice allowing 30 days for debt validation as required by the FDCPA.
The statute of limitations in Arizona is three years for verbal agreements and six years for written agreements.
If your debtor is unresponsive to letters and phone calls, we provide on-the-ground field services for investigation, skip tracing, in-person visits at your debtor’s residence, asset searches, and more.
Yes, we must be able to validate the debt before we can begin the collection process. Validation documents include, but are not limited to, contractual agreements between you and the consumer, a bill or invoices for exchanged goods or services or legal court judgment documents.
Yes. In the event all amicable efforts are exhausted, our in-house legal team will conduct a thorough review of the file to determine collectability in litigation. If the file qualifies and you approve, we will work with the local attorney in Phoenix to file suit and pursue the claim, including asset location, arbitration, trial representation, obtainment of a judgment and post-judgment enforcement.
Yes, if they are included in the contract signed by the debtor.
* The information provided on this website does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this site are for general informational purposes only. Information on this website may not constitute the most up-to-date legal or other information.