The Account Resolution System (ARS) developed by CBHV is the result of over 39 years of enhancement to standard collection industry practices. The procedures encompassed by the ARS have been thoroughly examined and reviewed to ensure that they comply with all applicable Federal and State laws, including the Federal Fair Debt Collection Practices Act (FDCPA), Public Law 95-109, and the Health Insurance Portability and Accountability Act (HIPAA).
In compliance with the Federal Fair Debt Collection Practices Act (FDCPA), a first collection letter is sent to each debtor upon completion of account activation. This letter contains both the validation notice and the mini Miranda statement as required by the Act.
All new placements are analyzed through CBHV’s enhance Account Collectability and Treatment Process. This specialized data hygiene process ensures demographic information while providing a collectability score. Each placement then follows a specified treatment process to produce the highest return.
Telephone Resolution of Accounts
Once telephone contact is made with a debtor there are normally five situations that can occur:
- Payment in Full
- Payment Plans
- Unable to Pay
- Refusals to Pay
If there is no favorable response to our telephone demands, appropriate follow-up letters are sent as needed. Follow-up dunning notices are sent on accounts with no telephone numbers at least every 30 days over a 90-day period. These collection notices can be sent individually or as part of a dunning series pre-established by company or client requirement.
When a determination is made that voluntary payment and subsequent resolution of an account is not forthcoming, CBHV management looks at the recovery score, employment information, and home equity to determine if suit is appropriate.
A variety of payment methods are afforded debtors. Payments may be made in person at our office, via mail, or by telephone utilizing either Western Union’s Quick Collect, E-Check (check by phone) or by credit/debit card (Visa, Master Card, or Amex).
CBHV is constantly upgrading system hardware and computer software in order to take advantage of the latest in the world of collection technology.
- Auto Trace
- Real Property Search
- Credit Reports
- Skip trace vendors