A word about rates… Are you really getting what you bargained for?
There's an old adage: "If it seems too good to be true, it is." Regretfully, in this highly
competitive field, some agencies are fast and loose with the truth when it comes to what they
actually charge for collections. In many cases, charges aren't published at all leaving room
for haggling or wiggle room down the line. In the view of Davis and Goldmark, that's not the
way to do business and it's not the way we have remained a leader in this business for 35 years.
Honesty and clarity have always served us and our clients well. There will never be confusion or
ambiguity when it comes to what we charge on collections. We have always proudly published our
schedule of charges on our website and printed material.
Shopping Rates?
Unfortunately, there is a common notion among many credit managers that collection agencies are
pretty much the same in what they do to collect so going with the agency that offers the lowest
rate seems to make sense. There is another old adage: "You get what you pay for." In the collection
business, like all businesses, we have to make a profit in order to survive. The rates we charge are
extremely reasonable when considering the exhaustive lengths we go to in insuring that every dollar
due our clients is collected. This includes thorough skip tracing, asset searches, multi-stage
personal collection and if required, attorney handling at no additional charge unless litigation
is required. Obviously, we don't go to these lengths to run up our overhead, but because we know
that these steps are required if we are to insure to our clients that they are obtaining maximum
results from their agency. After all, rates mean nothing if the money isn't being collected.
Standard Rate Schedule
For accounts in the United States,
its Territories and Canada.
25% of the first $2,000 collected.
20% of amounts collected in excess of $2000.
50% of collections under $150.
$75 fee on collections of $151 to $300.
On authorized merchandise
returns, one-half of the regular fee will apply.
If suit is authorized by client, a fee not exceeding
10% is charged in addition to the above.
Special Rates
Applicable on accounts that are less than 90
days past due, or on amounts over $20,000.
All Special Rates are negotiable prior to placement.
Consumer Rates
Rates on consumer collections range from 30%
to 50% and are based on the type of debt and volume
placed.
International Rate Schedule
Accounts outside the United States,
its Territories and Canada 30% standard rates.
Rates above the standard require client's advance
approval.
