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TRAKAmerica Upgrades Recovery Model
SYOSSET, NY, October 2, 2006 — TRAKAmerica, the rapidly growing legal network management company, today announced the availability of FASTRAK 3.0, the latest release of its powerful legal recovery model. The new version of FASTRAK is more accurate and boasts additional features requested by clients.
“With this new model we can fine tune our recovery strategies to exactly hit a client’s ROI objective,” said Managing Partner Thomas Dalessandro. “Many clients have come to us asking us to be more aggressive; now we can dial in their requested net back and the model takes it from there.”
The foundation of FASTRAK’s accuracy is the extensive suit history on which it is built. The model now benefits from more than five years of legal recovery cases, encompassing over $40 million in court costs. FASTRAK 3.0 utilizes more than 30 case variables to accurately predict which cases are suit worthy and which are not.
“FASTRAK was originally built for credit cards and consumer loans, but we now have a version for auto deficiencies and we are developing additional versions for all the major classes of paper,” said CEO Thomas Milana. “We are also expanding our state coverage. We recently added Texas, a notoriously debtor friendly state. Five years ago people doubted we would be able to make money in Pennsylvania and Florida, but we’ve proved them wrong. Now we’re adding Texas to that list of successes. In fact, a debt buyer client of ours attributes a recent national auction win to the confidence that FASTRAK gave him that he could achieve a positive net back from the Texas portion of the portfolio.”
“A legal strategy offers a number of advantages over traditional strategies,” commented Dalessandro, “including a much higher liquidation rate and a more predictable recovery stream that is more resistant to economic downturns. But the key is knowing which accounts will produce a return on your investment in court costs and FASTRAK 3.0 is unmatched in its ability to do just that.”
FASTRAK 3.0 is available effectively immediately to TRAKAmerica clients.
About TRAKAmerica
TRAKAmerica is a top performing legal network management company that has been able to recover millions of dollars, previously believed to be unrecoverable, for some of the most astute lenders in the world. The company’s recovery success is built on a nationwide network of local attorneys, combined with a rigorous analytic approach to managing thousands of accounts.
TRAKAmerica’s FASTRAK model permits its attorneys to concentrate on the most suit-worthy accounts while its asset location skills and rigorous attorney management procedures ensure that each attorney follows the most statistically likely, cost effective path to recovery on every account. Since 2000, TRAKAmerica has won ongoing assignments from debt buyers, banks, finance companies, credit unions, auto lenders and others by delivering higher net backs in a secure, compliant environment. Creditors or debt buyers who would like more information about FASTRAK or who would like to run a test file should contact info@TRAKAmerica.com or 800.277.4431.
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