Endorsements
We appreciate our Financial World Solutions clients' feedback.
World Financial Solutions' Internet-based application permitted our new agency to avoid the cost of finding profitable paper to collect on.
We were able to spend our initial capital on productive collections after World Financial Solutions connected us with the right party. Its fast and easy. They talk a lot though.
Every detail, but they worked fast!
-Collection Agency, California.
Talk about productivity! You guys weren't only right on target, but entirely remarkable. My staff has implemented your plans and in less than thirty days our numbers are up 58%.
Thanks to your consultant Larry, we are finally on the right
track. I want to keep you guys a secret but I know that's not
possible. Lots of other agencies need your help.
Thanks again!
John Franklin
One of the most comprehensive agencies I've ever used! My initial intention was to find resources to coordinate our office's collection efforts. I was supremely surprised by the quick action and attention to detail that FWS took with my accounts.
I highly recommend you to all of my accounts receivable management colleagues. Your presentation on stage at the National Conference was outstanding!
I would like to know if your speaking engagement schedule will allow us to hire you for our annual conference here in New Jersey.
Sincerely,
Candace Strong
When I contracted your services, I had little hope of ever recovering the monies owed to me. It was extremely disheartening to have worked so hard, only for the client to ignore my requests for payment. As a last resort, I decided to place the account with FWS agency. I truly never expected to receive the payment.
Much to my surprise, not only did the company pay me after your contact with them, but they also placed other orders with me and agreed to pay up front until trust had again been established. More than that, I believe they have a respect for my business, that they didn't have before.
Thank you so much for everything you did for my account. I would recommend you whole-heartedly as not only did I receive payment, I also received a boost of confidence and a feeling of satisfaction. Your extremely reasonable fee was worth every penny. Please feel free to use me as a reference anytime...
Thanks so much,
Debby Magness
CEO
A Few Words About Canadian
&
United States Debt Collection
If you're thinking of hiring a collection agency in the US or Canada to collect from your foreign customer - try this exercise. Google the key words "commercial collection agencies" to see which agencies that purport to be able to legally collect in either country. You will see plenty. The truth is quite the opposite.
Calling Into Canada From The USA: It is against Canadian law for a US collection agency to collect from a Canadian corporation or consumer without being properly licensed and bonded in the province in which the debtor resides.
Collection agencies MUST be appropriately bonded and hold trust accounts with Canadian financial institutions. Bonds issued to US collection agencies usually do not cover foreign transactions. This can put creditors money at risk.
Further and more importantly, your US agencies Errors & Omissions insurance does not cover you for a law suit launched against you in Canada. If your company is serious about doing business in Canada, make sure you are using an agency that is fully licensed and bonded for your protection.
Calling Into The USA From Canada: This can also become a mine field if not handled correctly. All agencies working in the US are subject to the Fair Debt Collection Practices Act. Under the Act, a creditor can be named in a law suit if the collection agency breaches the Act in some manner.
If you are a large Canadian creditor selling into the USA, you are a large target for a US attorney. An unwitting Canadian collection agency can get you into some major trouble very quickly. Unfortunately your Canadian collection agencies Errors & Omissions insurance will not cover a foreign law suit. You're on your own!
If you are a US creditor chasing a Canadian debtor, hire a reputable Canadian agency that carries Error & Omissions insurance and maintains multi-currency capabilities. Don't get stung by a currency exchange problem.
If you are a Canadian creditor chasing a US debtor, hire a US agency that carries full Errors & Omission insurance.
While we feel very comfortable with our neighbors, the truth is the laws in each country are very different and to not abide by those laws is setting yourself up for disaster. Hire a professional agency in the country where your debtor is domiciled for the best outcome and lowest risk to you.
Financial World Solutions, LLC recommends and utilizes Industry Best Practices.
Connecting Debt Buyers, Debt Sellers, and
Collection Agencies is our forte'.
Financial World Solutions consults with some of the largest
debt buyers and sellers in the Accounts Receivable Management
Industry.
From small to large firms, Financial World Solutions consultants
match professionals together via our worldwide network of
Industry contacts.
If you are searching for Accounts Receivables to collect on,
we have them.
If you are wanting to purchase Debt Portfolios, we
have them. Perhaps you want to sell your Debt Portfolio?
We have buyers.