Speed up Your AR Management Process with Smooth Debt-Collection Services
Running an in-house collection process can be cumbersome. A low success rate is never an option regarding debt collection. Besides, there are constantly evolving regulations and industry standards; as a result, financial institutions, automotive, fintech, and commercial industries today outsource collection services to first-party collection agencies.
Our company acts as an extension of your firm and communicates with your customers in the company's brand voice. We look after all the collections-related dynamics and focus on the core business. We adhere to regulations and industry standards. As a leading first-party debt collection agency, customer service and satisfaction are the final stage of our customer lifecycle.
Team Vital Solutions have long-term experience when providing collection services to its clients. We have deep domain knowledge, stick to updated regulations and industry standards, and have a nationwide license for performing collections as a first-party collection agency.
We run a multichannel multilingual collection approach with our state-of-the-art technology and infrastructure. This helps us carry out debt collection operations seamlessly under your brand. In addition, we provide complete support in every stage of AR management, i.e., Cure stage, Early-stage collection, Pre-change-off first-party collection services, and more.
As a nationally-licensed healthcare debt collection agency, we provide a wide array of medical and healthcare debt recovery functions to our healthcare clients while adhering to industry compliances. We help you recover your money by leveraging a multichannel customer communication approach.
Our omnichannel debt collection services help our Fintech clients offer a high-quality customer experience and boost customer loyalty. Our AI-driven CX, first-party debt collection services are designed to maximize debt collection for your fintech business.
The BFSI industry needs to revamp its accounts receivable management and debt recovery strategies to boost its profitability. We offer omnichannel and multilingual B2B debt recovery and credit card debt collection services in all stages to help our clients recover their revenue while ensuring customer satisfaction.
As a reputed automotive debt collection agency, we help our clients with compliant first-party debt collection across different channels while ensuring a superior CX delivery at each interaction.
What Makes Vital Stand Out As A First-Party Collection Agency
Our proprietary software comes with a score and Skill-based Assignment Module (SSAM), allowing us to align the right customers with the right collectors based on the unique characteristics of the Account. As a result, it ensures more effective first-party collection.
Our skip tracing technology connects us to your previously “unreachable” customers, improves the effectiveness of automated letters, and boosts Right Party Contacts (“RPC”). When combined with first-contact-resolution (FCR), it helps us improve your bottom line.
We offer dynamic self-cure and web-based payment solutions to your customers, enabling them to make quick and easy guaranteed payment, removing NSF’s and administration costs associated with payment handling.
A vital part of our standard collection process includes sending automated notices to your delinquent account holders as warranted. As a first-party debt collection agency, we ensure that the language and tone of the letters carry a professional representation of your brand.
Ensuring 100% quality assurance and compliance adherence in each communication is something we take pride in. As a 1st party debt collection agency, it helps us ensure that your Accounts receivable management is done according to regulatory standards and first party collection laws.
Our team of experienced multilingual debt collection agents can quickly build a rapport with your customers while working as an extension of your team and ensure prompt and effective debt recovery.
Let’s Start a Conversation
The first party collection includes collecting late payments under the client's branding before the account becomes delinquent. The 1st party debt collection agency attempts to recover money from consumers that owe creditors.
As per the FDCPA, creditors and first party services are excluded from coverage as they are not termed as 'debt collections. Credit card debt, auto loans, medical bills, student loans, mortgages, and other household debts are covered under the FDCPA.
A collection agency cannot discuss the debt with anyone but the debtor or the spouse. The debt collector must contact the attorney when an attorney is representing. Meanwhile, a collector may contact others when finding out your address, home phone number, and where they work.
Many states require debt collectors to be licensed. A debtor may always check the information the agency provides with the state attorney general. The state regulator may be of assistance when understanding whether a debt collection agency has the right to collect.