IC System Receives 2021 BBB Torch Awards for Ethics

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IC System Receives 2021 BBB Torch Awards for Ethics

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When is the Best Time to Send an Account to Collections?

when is the best time to send an account to collections?

Whether you’re running a small business, healthcare office, or a large corporation, knowing the right time to submit a debt to your collection agency remains tricky. There’s a delicate balance. You shouldn’t send an account to collections too soon, but you also shouldn’t wait too long. So what’s the correct timeframe? Here are some things

Tax Season Debt Collection Strategies and Why They Matter

Many retailers make or break their year based on the success of the holiday shopping season. The period between Black Friday and the year’s end represents nearly 50% of some retailers’ annual sales. The same is true of the collection industry during tax time, a period in which IC System’s collections can increase by up

Deal with Collection Accounts Before Holiday Hoopla

Overwhelmed employee working while wearing holiday attire

The holidays can be stressful and busy. It’s so busy that the holiday season requires an almost endless list of lists: shopping lists, grocery lists, and your general To Do List. And that’s just for your personal life. Throw your business’ hectic office environment into this mix, and you’ll stress levels are almost guaranteed to

What Regulation F Means for Collection Agencies and Creditors

The Consumer Financial Protection Bureau (CFPB) has implemented new rules, known as Regulation F, requiring collection agencies to obtain additional information from creditors sending past-due accounts for collection. The Rule’s effective date is November 30, 2021. Regulation F has impacted the collection industry and raised many questions about what comes next, especially among creditors who

How much do collection agencies charge?

There are thousands of debt collection companies out there with different pricing options, so getting an idea about how much collection agencies charge can better prepare you for vetting collection services. Collection agencies charge their clients in a myriad of ways; though, most collection agencies offer either contingency collections or flat fee programs for third-party

4 Tips to Streamline Your Business and Reduce AR

When you run a small business, you’ve got a To-Do List about a mile long, and finding new ways to reduce AR isn’t at the top. There’s rarely enough time in the day or week to get your list done, so you have to pick and choose what gets accomplished. While you’re managing the day-to-day,

Three Innovative Tools to Increase Collection Revenue

As a business in need of collection services, it’s essential to have a partner that offers innovative tools to increase your recoveries. Here are a few collection tools offered by IC System that you may not find at other agencies. Credit Reporting There are few more compelling incentives to pay than credit reporting. Credit-conscious consumers

Is It Worth Investing in Collection Services?

There are a lot of collection agencies and a lot of collection services out there. Some of them charge upfront fees for their services, and others don’t. Whether you’re just getting started or you’ve worked with collection agencies before, it isn’t easy to know which products or services you should use. And how do you

The Consumer Experience: A Simple Equation for Better Collections

IC System - The-Consumer-Experience---A-Simple-Equation-for-Better-Collections

IC System remains at the forefront of the collection industry because we use consumer experience metrics to gauge performance. Data analysis of call quality scores, combined with our Consumer Satisfaction (CSAT) survey results, shows that the more we improve the consumer experience, the more consumers will likely resolve their past-due accounts. Call Quality (CQ) IC

When should debt collectors be used?

IC System When-should-debt-collectors-be-used

There’s no simple answer to the question, “When should debt collectors be used?” The answer varies for every industry and every business, and sometimes every account. But there are a few general principles that can give your office some insight about when you should send past-due accounts to a collection agency. Here are some considerations: