Debt Collection Agencies Professionals in Rhode Island
Midland Credit Management
✓ VerifiedOne of the largest debt purchasers and collectors in the United States, handling billions in consumer debt across all 50 states.
Portfolio Recovery Associates
✓ VerifiedMajor debt purchaser and collector with operations across the US and internationally. Specializes in consumer credit portfolios.
American Profit Recovery
✓ VerifiedProfessional collection agency helping small businesses and healthcare providers recover outstanding receivables on a contingency basis.
United Collection Bureau
✓ VerifiedLong-established collection agency specializing in utility, telecommunications, and retail credit debt recovery across the continental US.
Quick Comparison
| Company | Fee Range | BBB Rating | Headquarters |
|---|---|---|---|
| Midland Credit Management | 25-40% | A- | San Diego, CA |
| Portfolio Recovery Associates | 22-38% | A+ | Norfolk, VA |
| American Profit Recovery | 20-33% | A+ | Auburn Hills, MI |
How Debt Collection Agencies Works
The agency attempts to recover your debt through calls, letters, and legal action if needed. Their fee is a percentage of what they recover.
Typical Fee: 20-40% of collected amount
Your Rights in Rhode Island
Debt Collection Agencies - Rhode Island Regulations
Rhode Island collectors must comply with the federal FDCPA. Licensing requirement: Must register with Rhode Island Department of Business Regulation.
Wage Garnishment in Rhode Island
Up to 25% of disposable income
Statute of Limitations - Rhode Island
| Debt Type | Time Limit |
|---|---|
| Credit Card | 10 years |
| Medical Bills | 10 years |
| Written Contract | 10 years |
Frequently Asked Questions
They receive a percentage (typically 20-40%) of the amount they successfully collect. If they collect nothing, you pay nothing.
Most handle consumer debts including credit card debt, medical bills, personal loans, and business invoices.
Typically 30-180 days depending on the debtor's responsiveness and the complexity of the case.
It may, but professional agencies are trained to maintain compliance with FDCPA laws and minimize conflict.
Basic debtor information (name, address, contact), the amount owed, and supporting documentation like contracts or invoices.