Collection Agencies Face New Challenges
In the current collections market, collection agencies face two major challenges that limit their potential for revenue growth:
- Limited account placements: Even at the best agencies, only a certain percentage of accounts ever become payers. Agencies require an increasing flow of additional account placements to maintain sustained revenue growth.
- Limited information on placed accounts: Credit agencies require information on debtors to identify collections segments and collect on accounts. Agencies must rely on data vendors to obtain this information, which can be cost prohibitive when trying to boost collection numbers.
Necessary information factors for an ideal collections account:
- Up to date address
- High credit score
- Cell phone information
- Landline information
- Job information
- Bank information
Without this information, agencies are unable to maximize collections in their account portfolios.
A Unique Solution from a National Law Firm
Eltman Law has a large volume of accounts with all of this information. While these accounts would be considered ideal collections accounts for most agencies, they are not a good match for our firm. We do not have a proper outbound calling operation, so we are unable to liquidate this inventory.
We would like to forward these accounts to an agency that would be better equipped to collect on them. If your agency has a robust call-and-collect operation, please reach out to us.
For more information:
Call 212.660.3164 or e-mail: BrBoyle@eltmanlaw.com
Eltman Law (www.eltmanlaw.com) is the industry leader in unpaid judgment management. Our innovative process uses deep data mining, nationwide asset investigations, and nationwide legal executions, to liquidate on accounts that other firms could not find value in.