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Technology

The Professional Credit Service technological infrastructure is built to support and manage the extensive use of professional collections systems. The infrastructure provides stability, encryption, and reporting capabilities required for business maintenance and growth. Custom programming enables Professional Credit Service to adapt quickly to the changing needs of individual account groups and compliance requirements.

Professional Credit Service is dedicated to protecting the privacy of information.

That protection begins with SSL secure computer systems and data encryption. Our experienced staff of programmers are continually developing our technology infrastructure.

Professional Credit Service never tires of exploring new ways to use a variety of information sources to determine even better collection strategies.

Skip Tracing

At Professional Credit Service (Professional Credit Service), it's all about creating the greatest monetary recovery for its clients, while treating consumers with respect.


Professional Credit Service's skip trace resources not only provide automated and accurate tools for its collectors to make right-party contacts with consumers, but also alerts our collectors when important positive or negative changes have occurred in the consumer's life and when asset information becomes known.


Here are a few of the resources Professional Credit Service dedicates to skip tracing:

Seasoned Collectors

Investing in training and leadership allows the full value of each piece of skip trace information to be utilized to make a great decision by the collector.

 

Data Analytics Team

This team of Decision Scientists thinks about relationships of various data elements related to consumers—those that pay and those that don't—and what collectors need in order to be even more effective at resolving accounts.

 

Behavioral Science Team

This team of Social Scientists thinks about behaviors of consumers—and creates strategies to increase the effectiveness of the collectors by helping ensure the timing and the information is right to connect with those consumers.

 

Data Vendors

Each vendor is unique: Unique in their data sources, processes, and even timing. Professional Credit Service goes out of its way to understand a large number of data vendor's strengths and weaknesses, and incorporates the best elements of each in an efficient delivery of information to collectors.

 

Overview

Professional Credit Service knows the value of "both/and" thinking along with applying and managing it. No one vendor can accurately pinpoint relevant consumer information; there are many value-adding data providers that have a niche. Professional Credit Service provides value to its clients by being able to take advantage of a lot of different data providers. It takes a special organization that can manage a lot of different vendor relationships, and Professional Credit Service is that kind of organization. What does it take to manage a large number of vendor relationships well?

  • Strong management
  • Efficient processes
  • Innovative technology tools
  • Data analytics to determine which data providers are effective
  • A behavioral science focus to know what data elements are relevant
  • Regulatory confidence to ensure data providers protect consumer information the same way Professional Credit Service protects that information

Professional Credit Service has all of these skills—and that is why it is so effective at producing sustainable value for its clients. Also, Professional Credit Service actively adds and deletes vendors based on performance, so over time the specific vendors may change while the focus doesn't.

 

Connecting with the Consumer—Correct Phone and Address Information

The goal of Professional Credit Service is to connect with the consumer in order to get the information to resolve the obligation. This requires accurate phone and address information. Upon placement of an account with Professional Credit Service, if after the first letter and first call it's determined there is bad contact information, the consumer enters the Professional Credit Service proprietary phone/address WaterfallSM.


Based on the analytical score for that consumer, there are two tracks in WaterfallSM. One track is reaching out to just one data vendor to obtain a new phone and address (which includes presentation of the former bad address and phone info). If a new address is returned the address is automatically updated and a new letter sent. If there is new phone information it is updated and routed to the calling queue after expiration of the jackdate from the letter action. When there is additional address or phone info for that consumer from the data vendor, that additional info is recorded in the consumer's note history for additional follow-up by the collector in case of inaccuracy.


The second track is very robust and typically occurs all in the same day. There are a number of vendors in the WaterfallSM and Professional Credit Service has designed its system to process the files automatically, so no collector involvement is needed. For each presentation of consumer information to a vendor, Professional Credit Service provides the previous known bad addresses and phone numbers.


This is called "de-dupe" and helps ensure re-circulation of bad info with the data providers doesn't occur. If the first vendor has no new information for that consumer, it automatically progresses to the second vendor, and if they have no info, on to the next vendor, and so on and so forth. Like this first track of WaterfallSM, if a vendor returns new information, that is uploaded into the Professional Credit Service database automatically, a letter is sent automatically and new phone info routes the consumer to the proper calling queue. Any additional phone or address information is written to the file for later use by the collector.


The Professional Credit Service Data Analytics team periodically analyzes the accuracy of the results provided by each vendor and will order the vendors in the WaterfallSM based on their accuracy and other features. If no data elements are provided about the consumer (e.g. date of birth or SS#) other than name or address, Professional Credit Service typically doesn't use the WaterfallSM to reduce the risk of a bad consumer match. Instead, collector judgment is used in doing manual skip trace efforts where appropriate.


Vendor Skip-Trace Tools

Professional Credit Service also makes a number of other phone and address available to seasoned collectors. Those include a number of vendors where the collector can log into the vendor system and analyze all of the info that vendor has for that consumer. Many of these vendors provide reverse phone and address look-up features. The Professional Credit Service collectors, through its Intranet services, Metolius, are able to maintain links to their favorite internet web search tools and also can create custom menus. These other sites can include a wide variety of social networking and directory assistance resources. Seasoned collectors can also use the WaterfallSM process through an automated Action; this is especially helpful if it's been some time since the consumer was contacted. The Data Analytics team also works with Professional Credit Service Collection leadership to do batch-oriented WaterfallSM projects, especially as part of the collection efforts applied by the Retro Team (working with consumer's whose accounts were referred over 36 months ago).


Professional Credit Service works with a number of various state agencies which make their databases available for purchase. Professional Credit Service's investment in these databases and the technology tools helpcreate tefficient content, to achieve its mission. For example, Professional Credit Service will obtain various states DMV databases (and updates them often) which are quite useful in obtaining good phone and address information on consumers. Quick access to these databases would be one of the additions on the Metolius system for a collector. Databases like this also are helpful in identifying asset information for the consumer. Professional Credit Service will also periodically obtain more obscure databases, i.e. state's Fish and Wildlife database, and establish efficient scrubbing methods to find new phone or address information.


Professional Credit Service is very careful about the vendors it uses and also makes the effort to understand the capabilities of each vendor and utilize those features. For example, Professional Credit Service's letter vendor provides NCOA48 and CASS information services. This is an efficient way of identifying proper address information prior to sending the letter and there is an electronic way of updating the Professional Credit Service database so it's retained. Professional Credit Service postal envelopes are sent titled "Address Correction Requested" to further assure receipt of forwarding information that may not be present yet in the NCOA system.

 

Lastly, Professional Credit Service has developed an effective way of obtaining very concentrated consumer information reports (not credit reports) from one vendor in particular, reducing the use of collector time. When the collector decides they need this particular report they invoke an Action that causes the report to be runand loaded to the consumer's electronic record. Then the collector is notified when the report is available for viewing. Professional Credit Service realizes in order to reach its mission, it must continually take small, but incrementally positive steps that continue to increase the value provided.

 

Alerting Collectors when a Positive Change has Occurred for the Consumer

Professional Credit Service works with consumers who want to pay their obligations, but are unable to at the current time for a variety of reasons (i.e. unemployment, prolonged illness,etc). This means to be effective at collecting for its clients, Professional Credit Service needs to have a better understanding as to when those consumers have a positive change in their life and can now pay their obligations. To accomplish this Professional Credit Service works with a number of vendors to identify when these positive changes occur. The Professional Credit Service Data Analytics and Behavioral Science teams work at identifying the data elements most relevant to certain consumer types, and establish monitoring programs to be alerted when a positive change has occurred for that consumer. When positive changes have been identified, Professional Credit Service has a fast and efficient way to automatically communicate that info to the collectors, to be acted upon. In fact, due to the Pintos case, which inhibits a collection agency's ability to use credit-score based monitoring tools to identify positive trends, Professional Credit Service still uses monitoring on Pintos-related consumers (and non-Pintos too). In return, this helps to identify when the consumer has a new address or phone number. This is important because it allows a "first-in-wallet" position to actually connect with the consumer and get their obligation resolved-just by having updated contact information.


Professional Credit Service keeps track of each hit received from a vendor and measures how much money has been collected. From the point of receiving that information forwardit uses that information to evaluate the effectiveness in resolving accounts for its clients. That information then further refines which vendors and data elements are included in the monitoring activities.

 

Alerting Collectors when a Negative Change has Occurred for the Consumer

There is certain monitoring and scrubbing that Professional Credit Service does on a regular basis to ensure it is working accounts efficiently and effectively. For example, Professional Credit Service does a weekly scrub consistent with the weekly update from the Social Security Administration. These consumers have valid amounts still being owed in the Professional Credit Service database, but we can identify those consumers who have recently passed away. These accounts go to a special Probate desk that Professional Credit Service maintains. From there a series of letters get sent to the consumer's estate to notify the family of the decedent's obligation. Probates and small estates are also monitored from this collection area.


Professional Credit Service monitors for bankruptcy filings for accounts in the pre-legal status to ensure those consumers that file for bankruptcy protection are treated appropriately. Likewise, Professional Credit Service checks for bankruptcy filings on new account loads to ensure communication of a filing may have gone to the original creditor instead of to Professional Credit Service.

 

Alerting Collectors to Asset Information for the Consumer

Professional Credit Service performs many asset-based searches on a consistent basis. This information helps Professional Credit Service accelerates resolving accounts. For example, Professional Credit Service engages a number of verified Place of Employment ("POE") vendors for either weekly or monthly scrubs. These scrubs benefit both pre-legal and post-legal account resolution. Professional Credit Service also engages a number of vendors to obtain un-verified POE information. While this information requires much more effort it still provides a powerful benefit in resolving both pre-legal and post-legal accounts. Professional Credit Service actually uses a large number of verified bank and verified POE vendors—some of which only pertain to post-judgment account resolution. This strong ability of Professional Credit Service to utilize a large number of vendors significantly broadens its ability to resolve accounts—which is a significant differentiator between Professional Credit Service and its competition.


Credit Reporting and obtaining Credit Reports, on those consumers it's appropriate to, is a strong tool used by Professional Credit Service collectors. Not only can this assist in skip tracing but also provides valuable insight regarding a consumer's financial situation, including obligationsand assets.
The Professional Credit Service Data Analytics team and Behavioral Science teamwork together with the Collection Floor leadership, to identify other asset searches that are relevant and add value. For example, now that we are post-recession, identifying those consumers who now have home ownership is a strong indicator of a willingness to pay. Professional Credit Service often will identify specific consumer characteristics and obtain real estate ownership and mortgage information on those groups.This allows them to identify consumers that should be connected with to effectively resolve their obligations. Professional Credit Service uses a number of different tools, such as county assessor office online tools and various realestate websites, to obtain detailed real-estate information on a consumer's real property.


Ensuring the right party

Making sure the actual consumer has been identified is very important to Professional Credit Service. Professional Credit Service has created many safeguards to significantly reduce the risk of obtaining information and pursuing the wrong party. Equally important is to invest the resources necessary to identify the consumer and get the contact information needed.. For example, a SS# is very important in identifying consumers and distinguishing 'when good or bad things change in their life. If Professional Credit Service gets information from its clients where the SSN is missing, Professional Credit Service has created methods to automatically search for the right SSN for that consumer. Those that meet a rigorous process if the SSN is found are updated automatically. For those that don't, collectors apply further procedures to identify the properSSN. What does this mean to Professional Credit Service clients? It means a minority of those consumer's where the SSN is missing will get identified (and therefore have a stronger collection rate). Also this means those consumer's where Professional Credit Service can't identify the SSN with enough assurance and will not get much attention. It understands If enough "small" positive actions taken together get applied, Professional Credit Service can do an outstanding job in ensuring the highest monetary award recovered for its clients while treating consumers with respect.


Professional Credit Service is proactive in working with its large vendor base to pursue "out-of-the-box" solutions. For example, Professional Credit Service worked with a scoring vendor to identify consumer scores from 2006 (pre-recession times) to identify those consumers with a high propensity/willingness to pay. Their economic situation may have improved to reconnect with them to resolve their obligations. Another example would be a project Professional Credit Service did to understand if boat ownership provided a useful correlation to account resolution or as an asset source.