Debt Collections
Listing Date: 12/11/2006 8:57 AM
VAOA is pleased to announce its Debt Collection Program. VAOA has partnered with Credit Associates in Financial Services, Ltd. (“CAFS”). This Rutland based debt collection company has agreed to handle Member contingency accounts at the reduced rate of 25%.
Posted below are the forms you will need to submit to begin the collection process. If you have a Judgment Order against a former tenant, you will just need to fill out the Collection Form and submit it with the Judgment Order.
If the debt has not been reduced to a Judgment Order, you will need to supply CAFS with a copy of the lease and an accounting of the amounts owed.
If you did not have a written lease, you must have a Judgment Order to use this service.
Once you submit your account to CAFS, they will send a demand letter to the former tenant. If the tenant does not respond within 30 days, the debt is submitted to all three credit reporting agencies. The debt will show as a “rental account,” and will remain on the debtor’s credit report for seven (7) years or until the account is paid.
CAFS works on a contingency basis. They do not receive their 25% until they collect money from the tenant.
Questions about the program can be directed to either VAOA or CAFS. CAFS can be reached toll-free at 1-800-272-7917.
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