We ask this question to help assess the current status of the debt recovery process. This information ensures that Jetty can properly handle the claims process and avoid any potential issues related to overlapping claims recovery efforts.
If a balance has been placed with a collections agency before submitting a claim to Jetty, it’s important to account for the amount that Jetty could potentially cover (up to the bond limit) before sending the remainder to collections. Filing a claim after the full balance has already been sent to collections could create complications or delays, as double collection is illegal.
Here are some recommended best practices:
- First, perform 1st-party (self) recovery efforts to collect the resident’s outstanding balance
- If the resident fails to pay, you can file a claim with Jetty for the unpaid amount up to the bond limit
- Once you receive payment from Jetty, if there is still a balance owed over the bond limit, you can submit the remaining balance owed to a third-party collections vendor (ie. if the resident’s outstanding balance is $3,000 and the Jetty Deposit bond is $1,000, and $1,000 is paid, you can send the remaining $2,000 to collections)
By following this process you'll help ensure that your claim is processed in a timely manner without delays.