Creditor Recovery Teams

Restrictions alert users to legal issues or special handling requirements. They can stop mailings to a debtor and show on-screen warnings and instructions to collectors — use state restrictions for matters such as licensing, and agency restrictions for special handling cases.

Unlimited contact notes with an audit trail: collectors can add new notes but not modify old entries, administrative staff have unrestricted access, and every entry is stamped with the date, time, and the collector’s initials when critical data such as account status is updated.

Payment plans are easily set up with the promise system. Debt$Net® manages each plan and can automatically issue a delinquency letter or schedule a collector call when a payment is late, so collectors only handle the delinquencies rather than tracking every plan.

Receive and account for debtor payments quickly and accurately. Payment processing is designed to minimize data entry and record correctly against affected accounts — apply payments by default settings or manually, track cash, check, credit card, and electronic funds transfer, and record direct payments to clients with client statements updated automatically.

Prepare and send debtor statements and payment coupon books to remind debtors of payment obligations. Debtor statements are a unique notice type showing balances owed across a debtor’s accounts, produced monthly or as required, independent of notice processing or other scheduled actions. Collectors can create payment coupon books when payment plans are set up.

Control user access to sensitive business information. Beyond password protection, specify who can access each menu of the program — keep collectors out of financial and client screens, and limit them from updating fields such as name and social security number.

Debt$Net® lets you create more than twelve hundred notices of your own design. The content of a notice is totally free form, letting you set up any kind of notice you need and easily pull information from the Debt$Net® files into your notice. Besides the standard notice variables, you can calculate data and create your own variables, chain notices into a series, and run multiple dunning series at once — one for medical collections, another for commercial or retail. As accounts move through a series they can be turned over to a collector automatically, and the series can update the status, priority, or collector assigned to the account. Collectors can interrupt, restart, or redirect a sequence at their discretion and print quick notices without disturbing it. Notices can also be exported to outsource companies.