creating the ideal collection environment
DESCRIPTION
Creating the Ideal Collection Environment. May 4, 2010 | Craig Nielson. Government agencies: Getting it done. “Aggressive scheduling and follow-up of the current fines and costs has directly resulted in enforced collection of an additional 400% of the costs associated with the SA FCU.” - PowerPoint PPT PresentationTRANSCRIPT
Creating the Ideal Collection Environment
May 4, 2010 | Craig Nielson
Government agencies: Getting it done
“Increased collections by 60%. $4.2 million increase. Time to Payment in Full - 34.8 reduced to 6 months.”
- County Clerk, Texas
“Aggressive scheduling and follow-up of the current fines and costs has directly resulted in enforced collection of an additional 400% of the costs associated with the SA FCU.”
- State’s Attorney, Illinois
“Collection software has helped us streamline our processes, hold defendants accountable and consistently surpass our collection objectives.”
- Clerk of Court, Florida
Customer Service vs. Collections
The 4 C’s of Enforcing/Collecting Judgments
onsistent procedures promptly applied in every case must include:
ontact with the debtor immediately – followed by:
onsequences for the debtor who fails to pay. These C’s provide:
ompliance, which is the goal of enforcement.
HELPING the Debtor get this done
Collections Workflow Management
Your Collections
Process
Correspondence & Phone Contact
Staff Work Lists
Activity & Results
Resolve, Legal,
Forward
Daily Monitoring& Follow-up
Data Cleansing, Case Matching
ACCOUNT ENTRY
(auto or manual)CLOSURE
Consistency + Contact + Consequences = Compliance
Support your Activities with Automation
Predictive Dialer
Views into Database
Scoring and Analytics
Outside Collection AgenciesPaymentsReferralsUpdates
Governmental Data TransferPayment Intercept/Offset
DMVEDD
Outbound Data
1. Case Consolidation
2. Automated Workflow
3. Correspondence
4. Work Lists
5. Payment Plans
6. Reporting
7. Data Vendors
AutomatedCollectionSoftware
Financial Transactions
Inbound Accounts
(Updates)
Who Works the Account?
Assignment Methodology
• Age of obligation• Account type• Dollar value• Worker Type/Responsibility• Volume of cases/account• Available resources• Legal requirements• Collections history
Contacting Methods
• Onsite• Correspondence• Outbound Calling• Automated/Predictive Dialing• Field Collections• Email• Text
Where do I pay?
• Onsite at the counter
• Online portal
• With staff over the phone
• IVR
• Payment/installment plan
We’ll take your money!
• Cash• Check• Money order• Debit• Credit cards• Electronic funds transfer
How Long Do We Work Them?
Collections Lifecycle
Can’t find the debtor?
External Data Sources
• Credit bureaus
• Skip tracing
• NCOA
• Other government entities - DMV, EDD, police
No response? Take it up a notch!
More Proactive/Assertive Measures
• Collection fees• Imposition of Interest• Penalties• Refund/payment intercept/offset• Withholding of benefits• Liens, levies and garnishment• Seizure• Warrant, arrest or incarceration
How Are We Performing?
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Days
Rev
enu
e Traffic
Probation
Public Defender
Collect In-House vs. Outsource
• When• Cost• For how long• Single or multiple agencies• Volume
