Software to manage agency debt collection.
Buying a billion-dollar debt portfolio isn’t for everyone. Especially if that portfolio consists of debt pools that have been purchased from multiple creditors. We’re talking thousands of personal loans, all previously managed under numerous systems. But if this is your thing, your first step is getting all of those loans in one place. With Collector’s third-party management interface, you have the ability to onboard debt portfolios from any number of sources. So you can import your purchased debt into
one unified system and start collecting.
With Collector, you can take on a billion-dollar book of business.
And you can do it with confidence.
Every collection agency is different. Each one has its own strategy for collecting debt, and that strategy is an important asset. It’s the tested result of what works and what doesn’t. On top of strategic approaches, every agency also faces specific legal requirements based on location—an agency faces different legal obstacles in Toronto than in New York. So how can one system possibly work for two different agencies?
No matter where you are or what strategy you use, Collector’s configurable workflows and account distribution features will ensure you have a system tailored to your agency.
Who are your most valuable agents? Collector’s integrated reporting system will help you identify who your top performers are. It can track a number of key performance indicators, allowing you to make decisions about how to manage and distribute your accounts.
Timing is important. When there’s no action on an account, it’s often good practice to refer it to another agent. For a collection agency, these types of referrals happen multiple times. Collector automates these referrals, allowing you to distribute accounts based on the amount of time an account remains stagnant. Collector can even ensure that an account doesn’t end up with the same external agency twice.
Regulations. They’re different depending on where you are and who you’re collecting from. But one important requirement of every jurisdiction is maintaining private client information. Collector’s integrated compliance and regulatory tools help you maintain an audit of how you’re collecting in various jurisdictions. It can also provide auto dialer control, email integration, and SMS messaging opt-in, consent tracking, and private data management tools that will help you manage your regulatory requirements. No matter where you are.
In some cases, your agents will need to register liens and report accounts to credit bureaus. This process should be painless. With Collector, your agency is connected electronically to external vendors like PPSA, TransUnion, and Equifax. So registering liens and reporting to credit bureaus isn’t a hassle—it’s an extension of your collection software.
This page was created or refreshed on July 19, 2018 @ 16:12:37
by Strategic Information Technology (SIT) Ltd., Stouffville, Ontario, Canada
You're here to learn about: Collection Agency Software