Credit Center LLC
7 Finance Drive
Danbury, CT 06810
203-792-0220
Specializing in receivables management since 1967
Credit Center
Collection Process Description
Debt Collection Services – Credit Center, LLC.
Professional Debt Collectors Since 1967
Innovative and Strategic Solutions for Your Business
Competitive Rates and Outstanding Customer Service
Technologically Driven to Produce Consistent Results
Contingency Collections: A courteous yet tenacious approach to receive payments from previously uncollectible accounts
Professional and Considerate Telephone Campaigns
Effective Notices: Approved by ACA and the Banking Department Division of Consumer Protection
Our Collection Approach
Technology plays an important role in today's collection environment, but our greatest strength is our people. CCI's results are driven
by an experienced and highly trained staff, supported by customized correspondence, skip-tracing resources, secure payment options, and
comprehensive reporting capabilities.
CCI's managers have each been with the company for more than 20 years. Their experience, combined with the dedication of our
collection representatives, enables us to develop focused collection strategies and direct outreach campaigns designed to help our clients
achieve their recovery goals.
Our representatives communicate with consumers using a professional, respectful, and encouraging approach. We take the time to
understand each consumer's circumstances, explain available payment options, and work toward realistic resolutions. When appropriate,
our representatives may also provide general guidance to help consumers better understand and manage their financial obligations.
While many agencies rely primarily on high-volume collection methods, CCI focuses on both recovery and the consumer experience.
Our goal is not simply to collect an outstanding balance, but to represent each client in a manner that protects customer relationships and
and reflects positively on the organization.
We have consistently demonstrated that strong recovery results can coexist with professionalism, respect, and high levels of customer
satisfaction.
Collection Services and Capabilities
Customized Collection Programs
Every collection program can be tailored to meet the client’s specific operational requirements, policies, and recovery objectives.
Experienced Collection Professionals
Our experienced collection representatives receive ongoing training and are supported by a management team with decades of industry knowledge.
Personalized Consumer Outreach
Our representatives conduct focused outreach campaigns and work directly with consumers to understand their circumstances, discuss available options, and establish practical resolutions.
Skip Tracing and Location Services
We use internet-based research and locating tools to help identify updated consumer contact information.
Insurance Follow-Up and Rebilling
As a value-added service, CCI can assist with insurance follow-up, billing review, and rebilling efforts to help resolve balances that may remain payable by an insurance carrier or another responsible party.
Flexible and Secure Payment Options
CCI accepts a variety of payment methods by telephone, in person, and online through our secure payment-processing system.
Secondary Placement Collections
CCI accepts accounts previously placed with another collection agency. Secondary placement provides clients with an additional opportunity for recovery while helping them evaluate the results of their primary collection program.
Comprehensive Reporting
CCI provides a wide range of collection, payment, recovery, and account-status reports. Reporting formats and data fields may also be customized to meet a client’s operational and analytical needs.
A Program Designed Around Your Organization
CCI understands that every organization has different priorities, policies, and customer relationships. We work collaboratively with each client to develop a collection program that supports its financial objectives while preserving its reputation and treating every consumer with professionalism and respect.
Our Collection Process:
1. Account Placement
CCI accepts account files electronically or in hard-copy format and enters them into our collection system using the client's account numbers.
2. Validation Notice
An initial validation notice containing all required disclosures is mailed to the consumer.
3. Client Acknowledgment
The client receives a detailed report confirming the accounts placed with CCI.
4. Consumer Outreach
Our representatives begin personalized telephone outreach and continue communicating through calls and notices. Every interaction
is handled professionally, respectfully, and in accordance with applicable collections laws.
5. Account Resolution
CCI seeks payment in full whenever possible or establishes a reasonable payment arrangement based on the consumer's circumstances and the client's guidelines. We also perform address research, process payments, update client-direct payments, and provide insurance
follow-up and rebilling when applicable.
6. Remittance and Reporting
CCI provides clients with detailed monthly reporting and remits collected funds through the agreed-upon payment method.
Every collection program can be customized to meet the client's policies, communication preferences, and recovery objectives.
Credit Center offers a variety of early intervention solutions aimed at reducing the volume of accounts which proceed to third party collections. Every pre-collection program is customized to suit the objectives of the client. Pre-Collection programs are the most cost effective collection tool. They significantly improve cash flow, and immediately affect the accounts receivables and days outstanding.
Information, along with a carefully monitored systematic approach to the collection process, allows CCI to not only deliver the desired results, but to do so in a cost effective manner. Technology plays an important role in increasing our productivity, allowing CCI to handle large volumes at an attractive rate for our customers.
This service is used to improve your cash flow and productivity by simply and actively soliciting payments from accounts that are late but not yet delinquent. Here you avoid the need to invest in and manage new skills and technologies while benefiting from our existing infrastructure and state-of-the-art technology, process and procedures.
Low cost approach of contacting and reminding customers of delinquency, with high success rates because of aging.
Outbound Calling Campaigns
Cost effective program resulting in faster payments, while ensuring the accounts truly qualify for collections
PRE-COLLECTION PROCESS DESCRIPTION:
Pre-Collection/Early-Out and Letter Service Programs are Usually Initiated at 45-60 Days Past Due
Tailored Client Programs are Conducted by a CCI Subsidiary, Receivable Management Systems
Programs Consist of 1-4 Customized Letters and are Often Supplemented by 1-4 Telephone Calls
Pre-Collection Program Prices are Quoted as a Flat Rate per Account Based Upon the # of Accounts
Unpaid Pre-Collection Accounts can be Electronically Transferred into a Regular Collection Program
Pre-Collection Programs Generate Invoices and Reports Separate From Regular Collection Programs
Whether it is a two hour analysis or a two week overhaul, allow CCI to introduce our methodology of accounts receivable management to your office. Services include:
Review and revise collection letters and notices.
Review and revise account timelines
Manage and train on collection tactics and effective negotiating techniques
Review and audit performance of third party collection agencies
Improve aging of receivables
Skip tracing in the technology age
Dealing with difficult and irate customers
Training staff to motivate slow-pay and no-pay customers, while maintaining compliance with the FDCPA guidelines
CCI can help clients with chronically high numbers of account delinquencies put together their own staff of trained collectors. Using techniques perfected in over four decades of successful recovery, we can transfer to your organization the skills and attitudes of customer respect, making your staff more efficiently trained and poised to handle one of your most difficult and challenging processes of your business.
Receivables Management Consulting
Evaluation and assistance of accounts receivable process, timelines, cost effectiveness, and outsourcing performance.
A/R Follow up and Insurance Rebilling
Effective process of evaluating primary billing procedures and ultimately finalizing accounts resulting in more accurate accounts receivable.
On-site Receivables Management Projects
Experienced and trained professionals provided for temporary portfolio projects.
COST OF WAITING:
Did you know...the probability of collecting an overdue account drops to:
73% after 90 days
57% after 6 months
29% after 1 year
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CCI-BROCHURE
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