Senator-Elect Steven Nass Agrees to Help Wisconsin Collectors’ Association after Visit with United Credit Service, Inc.Leave a comment
December 18, 2014 by Lisa Brammer
On Monday, December 8th legislator, Steven Nass, took time out of his busy schedule to visit us here at United Credit Service. He served on the Whitewater Common Council from 1978 – 1981 and has served as a Wisconsin State Assemblyman since 1991, representing the 31st Assembly District. On November 4th, 2014 Nass was elected to the Wisconsin 11th Senate District.
Once elected into the state senate, Wisconsin Collectors’ Association (WCA) approached the senator-elect in an effort to solicit his help in restoring interest rates for recovery of money in small claim actions to 12 percent. Back on November 22, 2013, Nass, friend of small business, co-authored Assembly Bill 523 which sought for a return of the 12 percent interest rates in small claim actions. Under current law which went into effect in 2011 interest on small claim judgments accrues at an annual rate of the prime interest rate plus one percent, which presently amounts to 4.25% and is adjustable every 6 months.
As an active member of the WCA, United Credit Service, Inc. helped garner the senator’s support by hosting a visit where owners Rick Brammer and Jim Cox educated Nass on collection agency strategies and the important role collection agencies play improving our state’s economy.
After his visit to United Credit Service, Inc, Senator-elect Nass agreed to sponsor such a bill in the senate.
Restoring the statutory interest rate on small claim judgments would allow creditors the ability to collect 12 percent interest on an outstanding money judgment balance until satisfied. Small claims actions include eviction actions, actions to recover earnest money given towards the purchase of real property, and certain other civil actions on which the dollar amount claimed is $10,000 or less.
Founded in 1950, United Credit Service, Inc. is a full service, licensed revenue cycle management and debt collection agency in Wisconsin providing highly effective, customized one on one management and recovery solutions for our business partners. We offer pre-service collection solutions as well as traditional back-end collections. Visit our website at http://www.unitedcreditservice.com or call 877-723-2902.