The PIF2 Process—Caine & Weiner’s Precision File Management Procedure
The process, resulting from over eight decades of experienced file handling, produces optimal collection results, precise follow-up, continuous management oversight and 100% accountability.
- A primary, secondary and final handling specialist is assigned to each file
- At each stage a collection supervisor evaluates the progress
- Management oversight imbedded in the procedure guarantees 100% accountability for every file
- Before a file is closed it must undergo a two-step management review.
The three-tiered integrated collection process incorporates multiple collection actions governed by on-going supervisory/management review and intervention throughout the entire collection cycle.
During the initial handling period the debtor receives an FDCPA compliant payment request by mail and a 2-3 day call cycle commences. The Account Resolution Specialist Collector assigned to the file is a certified collection professional, regulation-compliant, and highly skilled in debtor communication and problem solving. If payment is not received or a payment plan is not agreed upon the file is moved to the next handling level.
At this level, the 2-3 day action cycle continues and, depending on the circumstances, a secondary specialist may enter the picture. A supplemental FDCPA compliant letter is sent to the debtor and greater urgency is conveyed. The Account Resolution Specialist’s file-handling and call cycle is supervisor-reviewed to make sure that maximum collection efforts are undertaken and handling is compliant with all regulations in the area where the debtor is domiciled. If payment is not received or a payment plan is not agreed upon (with the clients approval), the file is moved to the final handling stage.
Final handling is performed by a specialist whose sole objective is to fully explore all final opportunities to amicably resolve the debt including a review of all previous activity and direct debtor communication. The specialist operates within a very narrow area, after primary and intermediate handling, and before the implementation of legal action (if client approved). In the final handling stage, the assigned specialist, an articulate and persuasive communicator, is often able to convince the debtor to remit payment “to avoid a blemish on their credit record” and explains that the client is rightfully entitled to payment. In keeping with Caine & Weiner’s reputation, the debtor is treated at all times in a professional, dignified manner.
If the debtor refuses to cooperate the file is forwarded to Caine & Weiner’s Legal Department for review after which recommendations are made to the client. If legal activity is approved, the file is managed from “cradle to grave” through execution of judgment. Assigned attorneys are located in the debtor’s jurisdiction. If the file is considered for closure, it undergoes a two-step management review.
Throughout the collection cycle the progress is continuously analyzed and reviewed by management for best practices and proper file handling. PIF 2 is a time tested process that maximizes recoveries for our clients.