Expert Solutions for the Utility Industry
With deep roots in the industry, our executives understand the special needs of utilities and know how to turn dormant bad debt into immediate cash for your business. Our collections agents are specifically trained to work within regulated utility industries. Our commitment to customer service means that we will handle each debtor's account with courtesy and respect to ensure your continued credibility and minimize customer complaints. And unlike other companies, we get to know our clients, understand your needs and take pride in helping you succeed.
Change in Credit & Collections
In today's market, more and more original lenders are beginning to, or considering to, sell
charged-off receivables to mitigate their losses. A very few years ago, many lenders would have just charged off the debt they couldn't collect, taking the tax benefits associated with the charge off. Now they can not only recover several cents on the dollar for the debt, but also still take the write off, and possibly even cut their own collection costs dramatically.
Creditors have also redefined how they sell accounts. In fact, experienced sellers who once thought selling was for old, archive accounts, now utilize the selling of charge-off accounts as part of their overall strategy. Originally, lenders tested the selling waters with older, archive portfolios. With successful sales, and few risk issues and problems, many sellers became comfortable selling more recently charged-off accounts. Analysis was done to identify the most profitable time to sell, understand the time value of money, staffing issues and vendor management.
At the same time, many lenders were reengineering and looking at their core competencies. Some have answered these questions, "yes, if a buyer can make money on these accounts why can't I." Many decided that an effective charge-off collection was not what they wanted for a core competency. Most of the top 20 U.S. credit card banks include selling at charge-off now as part of their recovery strategy, rather than an infrequent method to resolve a specific problem area or staffing/resource issue.
The process of selling and contracting for the sale is a not a time consuming and resource intensive process when equated to management of third parties.
Cash Flow
We purchase your bad debt portfolios and provide your company with the benefits of a fast return. As a creditor you can benefit greatly by selling charged-off accounts in turn acquiring immediate cash for reinvestment, strengthening balance sheets, and positively impacting stock values.
Why wait months (or years) to collect bad debt?
Now you can consider all your bad debt accounts "PAID". Instead of laboring year 'round to collect it all internally, or dealing with the additional expense (and slowness) of collection agencies, InoVision will buy your bad debt today and you'll get an immediate infusion of cash, instead of waiting months or years to be paid.
Accounts Become InoVision's, So Do the Hassles, Work, and Associated Costs
Unlike a collection agency, we'll actually own your bad debt accounts. We'll handle all inquiries and complaints, so you're not bothered again. And even though we become the creditor, you'll know we're handling accounts responsibly for minimizing complaints is our highest priority.
No Accounts are Returned
Chances are you'll never hear from these accounts again, and we'll never return any either. That in it self will save time and resources, because your legal hassles are over, and you'll never have to deal with subsequent bankruptcies.
Purchase of Accounts
We purchase accounts of any age. Of course, the older the accounts the more diminished their value. However, if you have 'AGED' accounts lying dormant in house or with a collection agency, InoVision will turn them into cash, immediately!
Have you considered?
By selling your bad debt portfolio(s) you will be reducing holdings and servicing costs as well as immunizing your reliance on collection department personnel and you can eliminate the:
• Risk of continuing deterioration of credit quality.
• Risk of bankruptcy.
• As well in some cases, selling bad debt also protects the creditor from arbitrary loan loss reserve requirement
imposed by examiners or insurers.
Your Specific Benefits of Selling Bad Debt Receivables
For a lender, the numerous benefits of selling bad debt to InoVision include:
• Immediate cash for prior written-off and deemed uncollectible accounts.
• Generate income immediately on accounts for which recovery efforts have otherwise ceased.
• Immediate cash flow at levels equal to or higher than the net proceeds of a traditional recovery operation, be it
in-house or agency.
• Supplement a traditional agency program by selling recalled accounts or even sell your accounts as soon as they
become bad debts.
• Selling the bad debts are instrumental in making departmental as well as corporate goals and reducing write-off
forecasts.
• No administrative hassles - when accounts are sold practically all matters are handled by InoVision.
• Reduces customer contact time on re-applications where a prior charg- off balance is present.
• Eliminate expenses where charge-off bill is transferred to new account and special payment arrangements are
established.
• Eliminates double charge-off - prior bad debt again written off if arrangements not kept.
• Time value of money - receive cash today for money, which MAY only be collected in the future.
• Assurance of dealing with a company well versed in the utilities of bad debt management.
• Dramatically reduced staff when compared to either an in-house or collection agency recovery strategy.
• The ability to effectively manage a temporary inventory build up in times of increasing delinquencies, without
increasing staff.
