Our Approach to Collections
- The professionals at RMS utilize a sales oriented approach to the collection process. We recognize the importance of your institution’s image and therefore employ positive reinforcement and professionalism as a means to an end. Creating adverse relationships is not a collection tactic. Our collection strategy includes a combination of mail and telephone collection processes. We encourage payment in full and the benefits of this option as well as the possibility of payment installments as a viable option. Approaching the collection strategy in a positive, respectful manner increases our ability to collect your funds.
Prompt, Accurate Reports and Remittances
- Reports are sent either electronically via FTP or on paper on a monthly basis and can be sent to multiple locations. These include, but are not limited to:
- Active account statement
- Trust statement
- New account acknowledgment
- Account Summary
- Payment Summary
- Performance analysis report
- Closed/Returned report
- Additional customized reports can be created to your specific needs.
- Remittances can be submitted either electronically or paper checks, gross or net. If desired, we can send remittance data directly to your loan servicer.
Online Account Placement
- Account placement methods include secure FTP transfer, US mail, E-mail, fax or direct from loan servicer. We can also provide you with traditional placement forms or word processing templates.
Online Account Access
- Utilizing our debt collection system, we are able to process transactions for multiple account types and varying interest rates. Clients are able to access their accounts via our web site in order to view payments, collection history and collector notes.
Our Full Service Collections Include:
- Federal Loans
- Institutional Loans
- Nationwide Litigation
- Default Recovery
- Skip Tracing
- Credit Reporting
- Perkins Cohort Account Management