The TRAKAmerica Process
Step 1: Predicting Your Success
At TRAKAmerica, we take the frustrating – and costly - guesswork out of identifying which accounts in your portfolio are ultimately collectible.
Our FASTRAK predictive model features empirical data from more than 1 million cases (and our investment of $100 million in court costs). Each of the accounts in your portfolio is judged against over 30 case level variables that go beyond evidence of real estate and employment.
Using this proprietary predictive technology, we can accurately assess which accounts are suit worthy and project your liquidation rate and cash flow after 12, 24, and 36 months.
It’s a superior process to asset-based state level models that skew results and are far less accurate.
Step 2: Getting To Court Quickly and Efficiently
Once we’ve run your portfolio through our model and reviewed the net back projections, our TRAKAmerica team designs a complete recovery plan based on your requirements.
First, we prepare your portfolio for our attorney network by identifying suit worthy accounts and skip tracing them for accuracy (addresses, names etc.). As we verify information, we also attempt to collect from these accounts on your behalf.
As a legal network, we can use legal talk off language in these conversations, which often means debtors agree to a payment plan rather than face the legal process.
This immediately creates cash flow for you and also helps fund court costs on accounts that ultimately will go through the legal process.
Step 3: The TRAKAmerica Legal Network
On day 31, we electronically disburse your files to our network attorneys. They load your files into their systems and instantly send demand letters.
After the 30-day validation period expires, our attorneys sue those individuals who have not responded to their demand letters. Results are electronically posted and delivered to our offices each week.
It’s an entirely transparent system for full accountability. Each week, our management team examines exception reports that reflect which accounts are still outstanding. The report includes:
- legal suit dates
- service dates
- court information
- judgment information (principle and interest)
- court costs
- attorney fees
Our clients have the option of connecting electronically to our reporting system so they can check on the status of their portfolio at any time.
Our collection firms also follow our no-fail data security measures, including firewall intrusion detection software, encryption, and stringent internal security control systems.
Step 4: Collecting and Disbursing Your Money
At this stage, our TRAKAmerica team has obtained judgments on your bad debt accounts. We dedicate our efforts and resources—including in-house skip tracing and asset location programs—to collecting the money owed to you.
Skip and asset information is promptly supplied to our attorneys so they can devote their time to collecting from bank accounts, garnishing paychecks, and placing liens on properties.
We are no longer requesting money from debtors—we are actively taking it.
The TRAKAmerica process works seamlessly with your organization’s IT infrastructure for reliable, secure reports and payments. Our clients can elect to receive payments weekly, bi-weekly, or however they prefer through our secure electronic system.
All data is safe guarded with full-time, board-certified security experts and technology that passes the most rigorous security audits by nationally recognized financial institutions.
Result: Maximize Your Net Back
Effective asset location, disciplined attorney management and the ability to pick which accounts to sue with pinpoint accuracy all add up to maximize your netback.
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