Legal Collection Practices

Debt$Net® maintains an up-to-date trust account, handling debtor payments, adjustments, NSF reversals, client payments, set-up fees, trust account adjustments, direct payments, forwarded commissions, and direct-payment invoices. Place a hold on debtor payments you suspect will not clear so you never pay a client prematurely.

Create your own user-definable screens to handle the special tracking requirements of your agency, and add new fields to the standard debtor and account screens.

Comprehensive tracking of debtors and multiple accounts per debtor — interest, check return fees, agency fees, legal fees, contact dates, and much more — all through the base working screen, a central work area with point-and-click access to everything required to process an account from assignment to paid in full.

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.

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.

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.

Debt$Net® is flexible in the production of statements and the handling of your clients’ accounts. Close the billing period and produce statements as often as you require. Bill clients as Net Remit or Gross Remit and control whether balances carry forward or deduct from current collections. Invoice clients immediately for direct payments, and adjust client accounts easily for payments received, invoice corrections, or trust account transactions.

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.