Collection Process

 

Our process has been utilized and proven for over 45 years.  On this page, you will see an outline of the typical step by step collection process that is deployed on most accounts.  However, please keep in mind that in some cases, we will suggest and advice on a different course of action based on your company structure and needs.

 

Stage 1 - Case Submission.

 

Upon receiving your company data as well as the full debtor information, we will immediately set up your internal account information.  Debtor information is entered into our system and electronic acknowledgment report is sent outlining the submitter details and debtor details that will be displayed on all monthly reports with full activity reviews.

 

Stage 2 - Skip Tracing:

 

CCI can reference extensive and highly detailed databases of debtors whose whereabouts are unknown.  Our first line of offense generally lies with our own proprietary data.  All accounts are cross-referenced against the CCI database of over one million debtors.  Our collection software extracts accounts with no telephone number and/or no address information.  These accounts are then skip-traced agains the NCOA database or one of 5 software, web and cloud based directories which are network accessible by each Certified Collector.  Our Auto dialers will also generate a daily report showing a list of accounts that do not qualify for telephone contacts due to incorrect or missing data. Our speed and efficiency at identifying skipped accounts is of great assistance in locating even the most mobile and hard to find debtors, thus increasing debtor outreach and recovery rates.

 

Stage 3 - Letter Campaign.

 

Debtors will begin receiving a series of 4-5 letters – Day 1, 45, 60, 90. 

The first notice is generated as soon as the account is assigned a unique number and entered into our collection system.  After 30 days, a second notice is sent followed by subsequent notices at regular intervals. 

 

Stage 4 – Direct Outreach:

 

Debtor will receive an initial outreach within fifteen days after the first notice is mailed. The purpose of the first call is to verify the debt and address, possibly skip-trace the account and sort all accounts by status for Collector follow-up. 

In an effort to assist debtors in paying their debts, Collectors will bill insurance companies, suggest optional payment methods, set up time-pay arrangements. 

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Stage 5 - Reporting and Accounting:

 

Our accounting services and reports are comprehensive, accurate and easy to understand.  We’ll tailor our reports to your needs and preferences allowing you to select from a variety of ways to have us remit the funds we collect on your behalf.  This can be done weekly, bi-weekly or on a monthly basis.

All of the following reports are standard system generated reports, and are typically produced monthly. Our computer services can also generate customized reports in the event the information requested is not available using one of the standard reports.

 

Descriptions of Available reports

 

Client Acknowledgment Report - Transmitted electronically or mailed to client within three days of turnover to verify the receipt and accuracy of referred accounts and balances.

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Return Listing - A report that lists accounts purged from CCI’s system, which either have been paid in full or deemed not collectible, for the reasons specified.

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Status Report - A periodic report listing accounts and balances by debtor status.

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History Analysis - Details the account and dollar placements, average balance, dollars collected and liquidation percentage summarized by an unlimited # of client-specified service codes and descriptions.

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Detail Client Analysis And Letter Service Reports - Details total client collection performance by month, MTD and rolling 12-Months showing new accounts and dollars placed; average balance; active accounts; active dollars; liquidation ratio; letter service accounts rolled into regular collections.

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Monthly Activity Invoice - Shows date, description and type of debtor transaction; payments received by CCI and the client; fees retained by CCI; and the net remittance due client.

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Miscellaneous Ad Hoc Reports - Custom reports & formats can be created by our flexible CR collection software system report

writer.

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Client Requests or Inquiries - Account status update requests are preferred by e-mail and provided within 24 Hours of client   

request.

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To view our latest brochure, click below:

CCI-BROCHURE

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To view our company fact sheet, click below:

CCI - FACT SHEET

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