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Collection Triage

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					Brennan & Clark
   The Triage of Collecting
  Definition

• Brennan & Clark defines “Collection Triage”
  as follows: The evaluation and classification of
  collection accounts for purposes of recovery. It
  consists of the immediate sorting of accounts to
  establish an action plan that assures our
  customers the greatest possible recovery on their
  delinquent accounts.
Collection Triage



       DOA        Delayed




          Immediate
Collection Categories
    Immediate - used to describe those
     collection accounts that are in business
     with valid phone numbers.


    Delayed - used to describe those
     accounts where further skip tracing is
     required to find an alternate phone
     number or point of contact for the
     debtor/debtor company.


    DOA - used to describe those accounts
     that have no working phone number and
     are out of business.
Immediate Collections
•   Make contact and respond to debtor’s statement:
                 » Ignorance of Incident
                 »   Overcome with Details of the Dispute
                 »   Reiterate procedures & Steps Taken
                 » Dispute without Merit
                 »   Overcome with Details of the Dispute
                 »   Review Contract Terms
                 »   Reiterate procedures & Steps Taken
                 » Claiming Poverty
                 »   Identify True Cash Situation (Payroll, Rent, Phone)
                 »   Review Cash Allocation Issues
                 »   Evaluate & Establish Realistic Payment Schedule
                 » Commitment to Pay
                 »   Ensure Debtor is not dismissing/ignoring the situation
                 »   Convey Seriousness to Resolve the Issues
                 »   Negotiate Realistic Payment Plan (within guidelines)
                 »   Request Promissory Note be signed
                 » Refusal to Cooperate
                 »   Extend Ultimatum
                 »   Point out the Natural & Logical Consequences of this behavior
                 »   Create environment where cooperation is seen as the simpler
                 »   resolution to the situation
                 » Dispute with Merit
                 »   Easily Identified - Supported by Facts
                 »   Available Corroboration Evidence
Delayed Collections
                              Claims received


     locate phone #              locate fax #        confirm legal entity
obtain match for address or      obtain through     batch process to SOS to
   name through batch           internal system        obtain officer info
         system



                                   personal
                                  verification
       follow up on                 of info
      potential leads

                                  to collection
                                      cycle


            asset search           judgment           professional
                                     search               skip




                                 to collector for
                                    follow-up
DOA Collections
• Once an account has gone through the skip tracing cycle
  and there is still no valid contact information it is
  determined to be uncollectable.
• This decision is made only after we verify that there is
  no address or phone number for the debtor/debtor
  company.
                                           Brennan & Clark, Ltd
                                           721 E. Madison St.
                                           Villa Park, IL 60181
                                               800-858-7600
                                          www.brennanclark.com


Our mission is to rise Beyond Collections by providing customized receivable support solutions that eliminate credit losses.

				
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