For collection to be successful the collection agency needs to know what steps it must take to attain success. At Debt Credit Services/Collection Management Systems we have had years of experience which have resulted in pure adherence to the following collection schedule in order to achieve the results our clients demand:
- Send first notice on all accounts placed ( disclosure per Federal Laws).
- Telephone Debtor
A. If debtor is reached within 5 days of placement, mini-miranda must be recited.
B. After 5th day, recitation is needed, as the initial notice has been received.
- Identify the debtor or person responsible for payment of bill and explain the reason for the call.
- Request the debtor send payment in full.
Collector makes the following determinations:
- Debtor can pay in full.
- Debtor needs a partial payment plan.
- Debtor refuses to pay or disputes.
- Debtor will pay only if litigated.
- Collector documents all pertinent information in the system and notes:
- Payment plans
- Reschedule or follow-up date (Automatically retrieved by computer)
- Payment received in full or partial payment ( per agreement with collector)
- If paid in full, close account.
- If partial payment is made, reschedule for next payment date.
- If account is received with limited information, send to skip department.
- Mail return ( skip department )
- Account disputed:
- Identify reason for dispute.
- Identify if full amount is in dispute.
- Contact client for information needed to resolve dispute/ask client for written authorization to settle dispute (unless blanket settlement authorization is on file).
- Call the debtor to make final determinations:
- Dispute can be resolved.
- Dispute cannot be resolved but debtor agrees to settle amount not in dispute.
- Debtor refuses to settle or pay.
- Debtor refuses voluntary payment and account requires legal action:
- Debtor must have assets.
- Client forwards legal authorization and submits court costs.
- Agency forwards to attorney.
- Copy of judgement sent to client.
- Payment in full or monthly garnishments until PIF.