Collection Procedures

Collection Procedures:

Accounts are assigned to employees by management on a sophisticated and proprietary ranking system. Collectors are paid on a commission basis. Account processing includes the following steps:

1. Data Entry of Collection Accounts
	A.	Manual entry
	B.	Diskette or tape
	C.	Internet or on-line FTP transfer
2. Acknowledgement Letter Is Generated (List Includes The Following)
	A.	Debtor name and your account number
	B.	Date of the assignment
	C.	Total amount turned over to collection for balancing
	D.	The acknowledgement letter is mailed the day after the accounts are received.
3. Immediate Asset Search
	A.	The asset search takes place the day we receive the accounts.
	B.	All accounts over $200 will be searched for current credit availability, assets, public record search, bill paying worthiness, and status.
4. Account Ranking
	A.	Lead management reviews each report and ranks the account manually for most accurate coding.
	B.	Based on management ranking, the computer assigns the account to a collector group and work status.
5. First Collection Notice
	A.	This letter is mailed the day after receipt.
	B.	This letter fully complies with the Federal Fair Debt Collection Practices Act and advises the debtor of his/her rights under the law.
6. Initial Phone Call
	A.	The initial phone call occurs within two days after receipt of accounts. (Timing and/or content of all contact varies between commercial and consumer debts as required by the "Validation Period" of the Federal Fair Debt Collection Practices Act.)
	B.	Prior to this call, the collector receives all the information used to place the account in the proper ranking.
7. Collection of Balance
	A.	Once contact has been made with the debtor, the collector attempts to collect the full amount and utilizes all information for that purpose.
	B.	Depending on the rank of the account, the patient may set up a payment plan. Payment plans are a last resort and must have management approval.
	C.	Follow-up calls are scheduled and made as needed.
8. Payment
	A.	Master Card, Visa, American Express, and Discover are accepted.
	B.	Electronic Checks are a popular option for payment. Once authorized, the money is electronically debited from the patient's checking account and deposited into the trust account of ICS.
	C.	Wire transfers
	D.	Checks, cash, and money orders
9. Collection Letters After The First Notice
	A.	If the account is not paid in full on the first call, a notice series or specific letter is sent out.
	B.	Follow-up letters are sent as needed.
	C.	Upon mail return, the debtor is sent to the Skip Tracing Department to find new information. If the debtor is not found, this is automatically reviewed on a consistent basis.
10. Credit Reporting
	A.	If credit reporting is allowed per your direction, the debtor is reported at the end of thirty days to the following credit repositories: Equifax, Experian, and Trans Union.
	B.	All credit reporting is electronically submitted via the Internet using sophisticated encryption and secure servers; therefore, all data entry errors are avoided and confidential information is protected.
	C.	The Debtor's credit record will be affected by a collection ranking of (9) for the maximum time allowed under the Federal Fair Credit Reporting Act.
11. Legal Action
	A.	Once assets have been located, a determination by our company is made to recommend this account to you for legal action.
	B.	The recommendation is sent to you in writing, and a returned assignment is required to be signed and returned if you wish for us to proceed.
	C.	We have a network of attorneys throughout the United States and many parts of the world; therefore, suit would be brought locally for the debtor.
	D.	ICS pays all court costs, legal fees, and attorney fees.
12. Amnesty
	A.	Throughout the year, we offer an amnesty program for all debtors. This allows debtors to have their credit report expunged if they pay their account in full and at once.
	B.	This receives a huge response especially around the holidays when debtors are applying for new credit.

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"I find everyone very helpful and courteous. ... I have had great results in receiving money that I may not have been able to collect myself."

Guaranteed Results

ICS will collect 40% more than your current agency in 90 days or pay you the difference in CASH. Guaranteed!