AUTOMATED FIRST PARTY DEBT COLLECTION SYSTEM
The present invention provides an automated first party debt collection system. The automated first party debt collection system provides a web based system that a company that is owed money can use to attempt to collect debts. Accordingly, the system can provide many of the benefits of a debt collection agency directly to a company without requiring the company to use and pay for the services of a debt collection agency.
1 . A method, performed by a server computing system, for providing an automated first party debt collection service, the method comprising:
receiving, from a client computing system, information regarding a debt owed to an entity, the information including an identification of the debtor, contact information of the debtor, and an amount of the debt;
determining a classification for the debt;
determining a strategy for recovering the amount of the debt from the debtor;
based on the determined classification and strategy of the debt with respect to a determined classification and strategy of other debts, commencing a campaign to collect the amount of the debt, the campaign including contacting the debtor to offer the debtor the opportunity to make a payment to satisfy the debt; and
receiving a payment from the debtor that partially or wholly satisfies the debt.
2 . The method of claim 1 , wherein the classification is determined based on a collection score of the debtor.
3 . The method of claim 1 , wherein the strategy is specified in the information received from the client computing system.
4 . The method of claim 3 , wherein the strategy defines the types and frequency of communications to be used to contact the debtor.
5 . The method of claim 4 , wherein the types of communications include one or more of: phone calls, emails, text messages, instant messages, social media communications, or letters.
6 . The method of claim 1 , wherein contacting the debtor comprises calling the debtor and providing an option to the debtor to select to provide payment over the phone.
7 . The method of claim 1 , wherein contacting the debtor comprises calling the debtor and providing an option to the debtor to input a cell phone number at which a text message can be sent to provide a link to make a web-based payment.
8 . The method of claim 1 , wherein contacting the debtor comprises emailing the debtor, the email containing a link to make a web-based payment.
9 . The method of claim 1 , wherein contacting the debtor comprises texting the debtor, the text message containing a link to make a web-based payment.
10 . The method of claim 1 , wherein offering the debtor the opportunity to make a payment to satisfy the debt comprises:
making a settlement offer to settle the debt for less than the amount of the debt; or
presenting an option to setup automatic recurring payments to satisfy the debt over a period of time.
11 . The method of claim 10 , further comprising:
providing an option to supply a signature on a mobile device to confirm the acceptance of the settlement offer.
12 . The method of claim 1 , further comprising:
providing an option to the debtor to indicate that the debtor is not associated with the debt.
13 . The method of claim 1 , wherein the information is received from an accounting system executed by the client computing system.
14 . The method of claim 1 , wherein the information is received in a file that is formatted according to a schema understood by the server computing system.
15 . The method of claim 1 , further comprising:
displaying a dashboard that provides statistics regarding debts that the server computing system has attempted to collect for the entity.
16 . The method of claim 15 , wherein the statistics include: how long a debt has been with the system, how much money has been collected by the system for the entity, how many debts the entity has with the system, a ratio of how much money has been collected by the system for the entity over a specified amount of time, or how many attempts have been made to collect a debt.
17 . The method of claim 1 , wherein the strategy is determined based on one or more of: a collection score of the debtor, a location of the debtor, the age of the debt, the age of the debtor, the type of contact information for the debtor, the amount of the debt, or the type of product or service for which the debt was assumed.
18 . The method of claim 1 , further comprising:
maintaining criteria for determining a strategy for a particular debt; and
updating the criteria based on attempts to collect other debts.
19 . A system comprising:
one or more processors; and
memory storing computer executable instructions which when executed by any of the one or more processors implements a method for providing an automated first party debt collection service, the method comprising:
receiving, from a client computing system, information regarding a debt owed to an entity, the information including an identification of the debtor, contact information of the debtor, an amount of the debt, and an age of the debt;
determining a classification for the debt based at least partially on the age of the debt;
determining a strategy for recovering the amount of the debt from the debtor;
based on the determined classification and strategy of the debt with respect to a determined classification and strategy of other debts, commencing a campaign to collect the amount of the debt, the campaign including contacting the debtor to offer the debtor the opportunity to make a payment to satisfy the debt; and
receiving a payment from the debtor that partially or wholly satisfies the debt.
20 . The system of claim 19 , wherein contacting the debtor comprises:
sending multiple communications via multiple communication methods, each communication providing an option to automatically make a payment to satisfy the debt.