Collecting Past Due Debts

With many signing services struggling to meet their financial obligations, collecting on past due debts has become a hot topic. There have been some, um, unusual suggestions on how to collect these debts, including involving government officials or selling your debt to someone within close physical proximity to the company that owes the debt in hopes that they may have a better chance to collect the debt in person.

I believe a typical step approach still works best. Notify the signing service first by phone or e-mail, then if there's no resolution notify them in writing, then by certified letter, then proceed to small claims court or other legal remedies. If you've had a past relationship with the signing service with no prior problems, there's nothing wrong with a little patience. Public pressure seems to have an affect as well, so if you've tried reasonable measures with no success, calling out the offending party on some of the notary forums has worked in the past. No company wants a bad reputation. Contacting the title company can sometimes put pressure on the signing service. But understand that some of these steps, although they may eventually get you paid, may also alienate you from these companies. Temporary financial situations do sometimes arise, and you may not want to burn your bridges.

Above all, it's important to stay professional. Calling ten times a day, faxing them hundreds of times in an attempt to tie up their fax machine, or calling a borrower directly only serves to reflect poorly on you. If you intend on having a continued career in the industry, handle yourself in the same professional manner you would handle your loan signings.