InstiCollect: Small Business Debt Collection Made Easy

Written Correspondence

Upon placement of a delinquent account into the InstiCollect program, the consumer receives an initial validation communication from IC System advising them of the balance due, service dates and charges, and any history of payments made previously.

After sending the initial validation notice in InstiCollect, we review the effectiveness of the first attempt and send additional letters, emails, and texts if needed. This approach analyzes the characteristics of people who resolve their accounts, then applies that understanding to new accounts.

• Save your office the administrative burden of sending letters, emails, and texts
• Written communications prompt consumers to reach out to resolve their account

Outbound Phone Calls

IC System’s highly trained representatives specialize in taking an empathetic approach. When you use InstiCollect, we will work with your consumers, negotiate payment, and maintain your business’ good reputation to improve financial outcomes for everyone involved.

Consumers deserve to be treated with dignity and respect. Our financial counselors have been trained

• We train, coach, and monitor our collection staff to meet rigorous call quality guidelines
• We ask consumers to take a Consumer Satisfaction Survey after our calls—the results show 99% of surveyed consumers feel they were treated professionally
• Our ethical approach to debt collection helped IC System earn the Better Business Bureau’s Torch Award for Ethics in 2021
• Accredited and A rated with the BBB!

Credit Reporting

When you use InstiCollect, IC System will report your non-paying accounts with balances over $50 to the national credit bureaus.

Credit reporting can provide a crucial incentive to consumers that will encourage them to resolve their past-due accounts.

• Motivate consumers to resolve their debt
• Create a record of past-due accounts on the consumer’s credit profile
• Credit reporting may incite consumers to pay even after collection activity ends
• Reporting maintained for up to seven years from the date of delinquency

Note: If your organization is in the healthcare industry, there are some restrictions to credit reporting. Effective July 1, 2022, the NCRAs will no longer display paid medical debt collection accounts on consumer credit reports. If an account is sent to collections, credit reported, and then paid, the NCRAs will automatically remove the credit reporting upon payment. Also effective July 1 of this year, the NCRAs announced that medical debt collection accounts will not be reported until at least 365 days past the original creditor’s date of first delinquency. This change increases the reporting wait period from at least 180 days to 365 days. Effective 3/30/2023, the Credit Bureaus require a minimum balance of $500 for healthcare accounts.

Skip Tracing

Skip tracing scrubs occur automatically before collection activity takes place in InstiCollect. The process ensures that IC System has clean consumer data and spends our efforts collecting with the right information. IC System’s automated skip tracing process with InstiCollect includes a robust suite of vendor services to locate new contact information, including phone numbers and addresses.

• Automatically uncover new contact information
• Disqualify accounts based on bankruptcy and deceased databases
• Consumers change cell carriers and move regularly, and skip tracing can locate their new contact information
• Services may include MelissaData, LexisNexis, NCOA, FirstData Phone Append

Inbound Call Handling

Our US-based call center features highly-trained representatives ready to field questions from your consumers and negotiate payment on your behalf.

• Knowledgeable staff trained in a philosophy that compassion is key
• Trained and compliant with all federal and state guidelines
• Secure consumer payment portal online for off-hours resolutions
• 99% of surveyed consumers say they were treated professionally by IC System

Intelligent Collections Strategies

Every account is different. IC System believes in working smarter to collect more on your behalf using InstiCollect. We use advanced technologies and data to drive our calling campaigns with InstiCollect, resulting in a higher rate of right party contacts. We analyze the characteristics of people who resolve their accounts, then apply that understanding to new accounts.

• Dynamic strategies based on consumer behaviors
• Intelligent data algorithms focus collection efforts on the likeliest payers
• InstiCollect’s dynamic approach uses multiple mediums to engage consumers positively and motivate payment
• Phones, letters, text, and email mediums
• These strategies result in more effective work effort and more revenue