Maximising Recovery Rates in Consumer Debt: New research report available at Fast Market Research

June 15, 2012 - PRLog -- During such difficult financial times, where the economic environment remains volatile, debt collection agencies can only rely on the methods and strategies that they employ to increase the rates of debt collection and recovery. Debt collectors are faced with a multitude of challenges: external economic pressure, consumers with rising delinquency rates who are also faced with multiple credit relationships, and increasing competition in the debt collection agency. Considering this, obtaining a deep understanding on the various strategies in collecting debt implemented in various countries is a must to help improve debt collection rates and contribute to a rapid recovery from the global economic crisis. Different countries address debt collection in a myriad of ways such as through field visits, a third party debt collector, buying and selling of debts, and regular and constant reminders via multiple communication channels. There are also some who utilise threats and send lawsuits. The wide variation of debt collection practises makes it even more important to study and analyse each one of them so as to obtain a deeper understanding of the debt collection industry, financial industry, and banking industry.

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Full Report Details at
- http://www.fastmr.com/prod/390377_maximising_recovery_rat...
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Key Highlights

* Debt collection agencies are faced with an unusual and complex financial environment, a ballooning number of defaulters and high bank de-leveraging
* Debt collection techniques are evolving. It is much easier now, even compared to a few years ago, to determine market characteristics and prescribe new collection techniques
* Legacy processes such as credit bureaus, non-traditional scoring methods and internal scoring models are no longer relevant - agencies pursuing these routes are putting themselves at a disadvantage
* Debt collection is not just a purely operational procedure - efficiency now plays a key role

Scope

* A global look at debt collection, with a focus on best practice, and also consumer behaviour and analysis
* A specific look at the issues impacting growth and development - unemployment, salary and wage rates and credit demand
* Numerous case studies from the US, which remains the most sophisticated market from a collector's perspective
* The report is supported by numerous charts and diagrams

Reasons to Purchase

* This report is updated to take account of post crisis tools and technologies for collection
* It provides information on global best practise in debt collection but also presents analyses of the cause and effect of each practise
* It looks at debt collection both on a regional and a country basis
* There is an increasing emphasis on data management in the form of the risk analysis of each account segment

Companies Mentioned in this Report: Reintegra, Hunter Warfield, MVBA, Eversheds, MGt, HBOS

Partial Table of Contents:

Executive Summary
List of Figures
List of Tables
1 The debt collection industry after the banking crisis
1.1 The crisis affects debts and collections
1.2 Pre-crisis credit growth
1.3 The shifting credit landscape
1.4 Banks and lenders turn to debt collection
2 Debt collection strategies and tactics call for new techniques
2.1 Pre delinquency management
2.2 The collection flowchart
2.3 Analysis Contact
2.4 Assessment
2.5 Alternatives
2.6 Monitoring Payments
2.7 Managing a Recording System
2.8 Further Communication and Follow-Ups
2.9 Failure of Collections
2.10 Delinquency stages and buckets
2.11 Early Stage
2.12 Mid-Stage
2.13 Late Stage
2.14 Charge-Off
2.15 Lawsuit
2.16 Risk based strategies for late collection
2.17 Increased Target
2.18 Automation of Collection
2.19 Reduced Costs and Resources Incurred
3 Post crisis tools and technologies for debt collection
3.1 The evolution of debt collection technology
3.2 The debtor today
3.3 Access Receivables management
3.4 Technological requirements after crisis
3.5 Post crisis technology for debt collections
3.6 Credit Decisioning Programs
3.7 Manual versus Automated Credit Decisioning
3.8 Loan Portfolio and Debt Management Programs
3.9 Components of Loan Portfolio Management System
3.10 Loan Portfolio Management Review
3.11 Risk-Based Segmentation
3.12 Segmentation for Defining Losses
3.13 Case Study #1 Benefits within Four Months after California Franchise Tax Board Automates its Decision Analytics System
3.14 Case Study #2 Asset Management Company Tapped by California Hospital for Debt Recovery Strategies
3.15 Predictive Diallers and Beyond
3.16 Other Automated Dialling Techniques
3.17 Integrating Technologies
3.18 Maximising Other Communication Platforms
3.19 Intelligence-Driven Communications Technology
3.20 Case Study #4 Scotland Business Process Outsourcer MGt Utilises Automated Diallers to Increase Competitive Edge
3.21 Case Study #5 Reintegra Utilises Data Mining Technologies to Track Non-Responsive Clients to Improve Debt Collection Ratio
3.22 Recording and Monitoring Calls
3.23 Improving the Collection Process through Technology: Introducing Speech Analytics
3.24 Case Study #6 Hunter Warfield Utilises Call Recording and Speech Analytics to Ensure Compliance for Expanded Operations
3.25 Tools for Payment Convenience and Flexibility
3.26 From Web-Based Platforms to Virtual Collectors
3.27 Virtual Collection Streamlines Collection Processes
3.28 Case Study #7 Law Firm MVBA Increases Collection Rates and Returns, Reduces Collection Costs, through Online Site Credit Card Debt Payment System
4 Advancing Collection Management
4.1 Defining company objectives
4.2 Workflow management
4.3 Management techniques to improve collector productivity
4.4 Developing an incentives system for collectors
4.5 Collector segmentation
4.6 Eliminating distractions in the workplace
4.7 Quality monitoring and compliance management
4.8 More than Technology: effective management
5 Outsourcing collections and debt selling
6 Global best practises in debt collection
6.1 Best practises in the United States
6.2 Communication Technologies

Full Table of Contents is available at:
-- http://www.fastmr.com/catalog/product.aspx?productid=3903...

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