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Collection Agency Checklist All questions must be answered completely utilizing the section formats - if not applicable use N/A. Incomplete questionnaires will not be considered. 1. Full legal name of agency. 2. Headquarters address? A. Contact person? B. Phone & FAX numbers C. Email address? D. Website URL E. Additional office location(s) with complete address(es)? 3. ACA Member? A. Other professional affiliations? 4. Years in business? A. Under current ownership? 5. Principal's names, titles, years of collection agency experience? 6. Licensing: list all state collection agency licenses currently held 7. Insurance Coverage A. E&O Insurer B. Limits 8. Computer Systems/Automation A. Host collection system i) vendor name? ii) Proprietary system? iii) Number of stations? B. Dialer (if used) i) Vendor name? ii) Proprietary system? iii) Number of dialer stations? iv) How is the dialer used? 1) Describe campaign creation parameters 2) Campaign frequency 3) Hours utilized 4) Other pertinent dialer facts 9. PBX (if used) A. Manufacturer/model B. Auto attendant? C. Maximum number of lines/T-1's 10. IVR System A. Manufacturer/model B. Utilization description 11. Mail management in-house or out-sourced A. If in-house i) Describe procedure ii) Equipment utilized B. If outsourced i) To whom? ii) How is the data transmitted? iii) When is the data transmitted? iv) What type of transmittal verification is utilized? C. Do you utilize the USPS National Change of Address database? 1) If yes, describe how and when accounts are updated 12. Are new accounts automatically scrubbed through any other databases? If so, please describe completely. 13. What in-house or online skip tracing resources do your collectors have access to? 14. Collector hiring and training practices A. Parameters (if any) for hiring experienced collectors? B. Parameters (if any) for hiring trainees? C. Training program synopsis (if training is offered) i) attach copy of table of contents page of training manual D. FDCPA compliance training - complete description E. Total number of collectors i) Broken down by number of collectors and type of account responsibilities ii) Account per collector ratio (small balance, large balance, dialer, etc) F. Support personnel - number i) Administrative/clerical ii) Client service iii) Sales iv) IT v) Other 15. Supervision A. Number of supervisors and area(s) of responsibility B. Average tenure with agency C. Number of collectors per supervisor 16. Debtor complaint process (fully describe) 17. Hours of operation 18. Cash Tools A. Credit/debit card capability? B. Telephone checks? C. Western Union? D. Electronic check representment? E. Web based payment? F. Other? 19. Report capabilities A. Customized reports easily available? B. Sales and recovery percentages MTD/YTD/LTD both cumulative and by month listed (attach samples) C. Debtor Inventory list of all accounts with current status (attach sample) D. Bankrupt accounts case number & discharge date (attach sample) E. Other unique reports offered (attach samples) 20. Payment Processing A. Describe complete payment process from opening mail to bank deposit 21. Statement frequency? A. EFT capability? 22. Dental/ Medical collection expertise (or whatever industry is appropriate) A. Percent of gross collections that are derived from dental/ medical clients B. List of 3 largest dental/ medical clients with contact names and phone numbers for reference purposes 23. Proposed collection methodology on ___________________________ accounts based on an average balance of $____ per account and an average age of ___ days from the date of service or last payment. Be specific on any variables based on individual account balance, age, geographic location, etc. Include the following information with your description: A. Number of letters in dunning series (balance parameters if any) and attach copies of each letter B. Number of collection calls made before closing an account as uncollectible (balance parameters if any) C. Review process (if any) before an account is closed as uncollectible D. Credit Bureau reporting capabilities (Bureaus & minimum balance reported?) 24. Do you offer remote audit capabilities? 25. Pre-collection/Early Out services offered and fee schedule 26. Proposed contingency collection fee schedule for ________________________ 27. Is agency PPMS certified? |
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