Optio offers first party collections to companies wanting to lengthen the reach of their collection efforts without expanding costly human resources. First party collections appear to be coming directly from clients to accelerate profit recovery. Clients save time and money while enjoying better results such as fewer delinquent accounts and charge offs.
First-party collections are managed with two effective strategies: letter writing and phone calling services.
Depending on the situation, first-party collection letters may identify a consumer’s legal rights, demand payment, request they contact Optio or the creditor directly, update them on payment status, address disputes or provide other information. The agency has define specific guidelines for the creation, review, approval and delivery of collection notices that are reviewed and approved by the legal team to ensure full compliance.
All first-party collection calls (both inbound and outbound) are routed through and recorded by dialer technology, and later stored on servers within applicable data retention policy. Automated dialer controls ensure that all state and federal regulatory requirements are met with regard to beginning and ending call times and limitations on consumer contact volume (state law matrix). Furthermore, all call practices comply with standards established by the Telephone Consumer Protection Act (TCPA), including cell phones, work numbers, lines reported as wrong numbers, and pre-recorded messages.
Contact Optio today to learn how it can help your organization with a customized first-party program that includes letter strategies or phone services.
Experience the Benefits of Partnering with Optio
Optio’s first-party collections provide sound results and a range of benefits:
- Increased cash flow while reducing staff time and paperwork
- Payments sent directly to the client
- Enhanced client-consumer relationships
- High return for a low-flat fee (often less than $12 per account)
- Advanced analytics and reporting
- 24/7/365 access to secure account information