Letter Series Initiated: We use a variety of letters to establish contact with the consumer. Each letter includes a payment remittance stub and option to pay online.
First Letter Sent: The first letter is queued to be sent as soon as the placement has been loaded.
Phone Calls Start: Collectors begin calling on an account about seven (7) days after the first letter has been sent. If contact is made, collector will immediately begin negotiations to attempt resolution. Demand for payment in full cannot be made in first 30 days.
Skip Tracing: If we receive returned mail or encounter disconnect phone numbers, collectors will attempt to "skip trace" the consumer with a variety of resources to find correct or updated contact information.
Payments: We try to set up a payment plan with credit card or bank draft payments running automatically on dates agreed upon by the consumer. This system is most successful in ensuring consistent, timely payments by the consumer. Some consumers will mail payment on a regular basis and others will simply pay what they can when they can. Once a month around the 10th, you will receive a statement that shows all payments received for your accounts for the prior month. Each statement indicates the payment received, current status, current balance and collection rate.The statement will be accompanied by a check (for payments less commission) or will indicate the money owed to us for payments collected directly. If applicable, we will offset any money owed us from available funds due you for your convenience.
No Contact/Payment: Sometimes we encounter a consumer who is not willing to cooperate, pay or who we are simply unable to establish contact with in order to resolve the debt. In these situations, we forward the account to legal (our attorney partners). The attorneys have an additional strength in that they can pursue a court judgment in order to collect the funds from the debtor involuntarily by garnishing wages or levying a bank account. The pursuit of a judgment is ultimately at the discretion of the attorney but is determined by factors such as the balance owed and the consumer's financial situation.
Inventory Report: A list of your accounts that includes the debtor, current balance, and status.
Disclosure: It is important to realize that information may fail to yield results despite best practices and efforts. Please understand that there is no guarantee that a located debtor will be able to pay the owed funds.