The Triage of Collecting

Brennan & Clark

Definit ion

• 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

Immediate

DOA Delayed

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

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Make contact and respond to debtor’s statement:

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Ignorance of Incident

»

Overcome with Details of the Dispute

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Reiterate procedures & Steps Taken

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Dispute without Merit

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Overcome with Details of the Dispute

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Review Contract Terms

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Reiterate procedures & Steps Taken

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Claiming Poverty

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Identify True Cash Situation (Payroll, Rent, Phone)

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Review Cash Allocation Issues

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Evaluate & Establish Realistic Payment Schedule

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Commitment to Pay

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Ensure Debtor is not dismissing/ignoring the situation

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Convey Seriousness to Resolve the Issues

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Negotiate Realistic Payment Plan (within guidelines)

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Request Promissory Note be signed

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Refusal to Cooperate

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Extend Ultimatum

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Point out the Natural & Logical Consequences of this behavior

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Create environment where cooperation is seen as the simpler

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resolution to the situation

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Dispute with Merit

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Easily Identified - Supported by Facts

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Available Corroboration Evidence

Delayed CollectionsClaims received

locate phone #

obtain match for address or name through batch

system

locate fax #

obtain through internal system

confirm legal entity

batch process to SOS to obtain officer info

personal verification

of infofollow up on potential leads

to collection cycle

judgment search

asset search professional 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, Ltd721 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.