COHEAO MidYear Meeting

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COHEAO Mid-Year Meeting

• Carl Perry
• Senior Vice President, Marketing

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Skiptracing Today-Keys to Successful Collections
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Definitions

• What is a Skip?
• Its a borrower for whom no current address and
  phone number are available.
• What is a Locate?
• Its when a collector or skiptracer speaks to
  someone responsible for the debt.

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What are SomeSkiptracing Tools?

• Credit bureau reports
• Subscription internet sites
• Free internet sites
• Phone tracing

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Tools Alone Dont Succeed

• Effective technical skills
• Analytical thinking
• Jig-saw puzzle approach

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Credit Bureau Reports-Basic Information
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Credit Bureau Reports-More Information
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Credit Bureau Reports-More Information
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Subscription Internet Sites-Accurint, Lexis-Nexis

• Use skillfully for best results
• Every click costs money

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Accurint-People Search

• Too many results? If no SSN, narrow by-
• Last Name
• First name or first initial
• State
• City
• Middle name or initial

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Accurint-Phonetic Search

• Not sure of spelling?
• Try nickname and phonetic searches.

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Accurint-Phonetic Search
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Accurint-Directory Assistance

• Area codes change rapidly-
• use reverse phone search

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Accurint-Directory Assistance
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Accurint-Business Search

• Search by initials, often found on CBRs

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Accurint-Business Search
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Free Internet Searches

• Qwest Dex
• www.qwestdex.com
• Google
• www.google.com
• Search Bug
• www.searchbug.com

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Qwest Dex

• Good for business searches

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Qwest Dex
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Google

• Can provide address and phone numbers from the
  Invisible Web.
• Retrieves documents stored in .pdf, Word, Excel,
  and Power Point
• Be sure to use quotation marks for words grouped
  together
• Offers reverse phone search

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Google-Reverse Phone Search
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Google-Reverse Phone Search
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Search Bug
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Search Bug

• Use to determine land line or cell phone number

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Search Bug
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No luck? Try Manual Skiptracing

• Phone place of employment, open trades,
  inquiries, etc.

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Document thoroughly- the first time

• NOT
• Accurint-no results
• INSTEAD
• Accurint search on SSN, no results.
• Tried business search for POE- BEF Co. in CA, no
  results.

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Successful Skiptracing Requires

• Up-to-date tools
• Technical skill
• Curiosity and persistence

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For Collectors-A Skill Development Report
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A Skill Development Report
Op-Hrs as of Paid Hrs
Contacts Per Op-Hr
Promises as of Contacts
Promises Kept as of Promises
Average Payment Size ()
Employee Value Per Hour
X
X
X
X

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A Skill Development Report
Op-Hrs as of Paid Hrs
Contacts Per Op-Hr
Promises as of Contacts
Promises Kept as of Promises
Average Payment Size ()
EVPH
X
X
X
X

75
7
75
50
120
236
X
X
X
X

EVPH Dollars in Payments per Paid Hour
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Analyzing Performance
Op-Hrs as of Paid Hrs
Contacts Per Op-Hr
Promises as of Contacts
Promises Kept as of Promises
Average Payment Size ()
EVPH
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Analyzing Performance
Op-Hrs as of Paid Hrs
Contacts Per Op-Hr
Promises as of Contacts
Promises Kept as of Promises
Average Payment Size ()
EVPH
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Developing Sales Skill Cycle
1. Explain Expectations
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EVPHEmployee Value per Hour

• Use this model to identify areas for performance
  improvement.

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IRS Collections Project

• Carl Perry, SME

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Background-Current IRS Collections

• More than 110,000 employees collect more than 2
  trillion per year

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Background-2002 Tax Filings

• Personal Income Tax
• 132 million filings
• Corporate Income Tax
• 5.7 million filings
• Other categories
• 36.9 million returns

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Background-Failure to File

• From 1996-2001 the number not filing increased at
  a rate 3 times faster than the overall number of
  filings.

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Current IRS Backlog

• Understaffed in account receivables
• 60 of staff eligible to retire in next 5 years
• More than 250 billion in delinquent taxes have
  accumulated
• 75,000 delinquent accounts added monthly

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IRS Backlog Urgency

• 10-year statute of limitations on federal taxes
• Estimated 25 billion uncollected taxes expire
  per year

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Private Collection Agencies for Taxes

• 1996 Pilot Project deemed not cost beneficial
• IRS has revisited use of private collection
  agencies

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Private Collection Agencies for Taxes

• 42 state outsource tax collections
• IRS is the only federal agency not outsourcing
• Private collection firms are already heavily
  regulated
• Private collectors will be required to pass
  federal employee background checks

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HR 1169

• To amend the Internal Revenue Code of 1986
• To provide for performance of certain tax
  collection services by private contractors

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IRS Collection Project

• Future Thoughts
• Timeline

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Thank you- any questions?

• Carl Perry
• Aman Collection Service, Inc.
• carlperry_at_financial.wellsfargo.com
• 800-874-8967

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(No Transcript)