Harvest Strategy Group

Harvest Strategy Group manages a leading network of over 85 top collection law firms covering all 50 states as well as 15 nationally licensed collection agencies. We offer end to end management of integrated agency and litigation collection strategies. Although Harvest Strategy Group does not collect accounts directly, our team of agencies and attorneys working under our detailed account management guidelines produce superior results and uphold the highest professional standards.

Attorney Services

Since 1999, HSG has assembled the strongest group of collection attorneys in the nation. All HSG firms are members of the National Association of Retail Collection Attorneys (NARCA), have been in practice an average of 31 years, and transmit status and activity updates on a daily basis. HSG employs at least two firms in each state. Clients enjoy the highest levels of coverage, and more importantly, the highest liquidation rate because firms that exceed performance goals receive increased market share in their state.

Agency Services

HSG employs multiple licensed collection agencies across the nation, all of which have differing strengths with various ages and types of debt, including credit card, consumer loan, auto deficiency, commercial and medical. They are able to generate recovery within days of placement. HSG agencies are managed in the same way as our attorney firms as dynamic market share allocation drives competition to meet and exceed our clients’ portfolio recovery goals.

HSGProScore

HSG has developed a cutting-edge and proprietary scoring and segmentation model, known as HSGProScore, which has been validated against years of collection data. Click for more information about HSGProScore.

Analysis

We begin by performing a detailed analysis of the portfolio using HSGProScore. During this process we determine the best collection strategy for each account according to multiple sets of account characteristics, as well as produce a recovery projection.

Placement

After portfolio analysis is complete, accounts are placed through our secure FTP transfer site and loaded into the HSG system. HSG staff validates the data as it is received to ensure all necessary information is in place before moving forward with successful collection of the accounts. Work standards, including settlement authority and payment plan authority, are reviewed with each client and documented in our database and procedure manuals to ensure client requirements are being met.

Management

Management of the collection process begins once the accounts have been loaded to the HSG system and transferred securely to network attorneys and collection agencies. Using our electronic data interface we communicate with our attorneys and collection agencies on a daily basis, sending and receiving activity and status updates.

Daily updates are reviewed by key staff members to ensure accounts are being worked according to the proper standards, and that accounts are moving through the collection processes. Using 505 unique status and activity codes, HSG is able to effectively manage the collection process, tracking letters sent, calls made, disputes, suits filed, payments and judgments, and more. HSG employs at least two attorneys in each state in order to create an atmosphere of competition for greater market share. This enables HSG to track state level as well as attorney level liquidation trends.

Agency and attorney performance is managed through a detailed scorecard which is generated for every firm on a monthly basis and contains data on batch liquidation rates, judgment inventory liquidation rates, payment plan volumes, percentage of suits filed and key events, and most importantly, their performance as compared to their competition.

Reporting

Our focus is on providing clients timely and pertinent data that will enable them to make better business decisions relating to collection strategies as well as real time performance monitoring. HSG reporting is fully customizable according to client needs. Primary reports include batch tracks, batch drill downs, client scorecards, and account level status reports.

Product

HSG has 10 years of experience managing the collection process, and that experience includes a variety of product types:

• Credit Card
• Medical
• Auto Deficiencies
• Loans
• Commercial
• Arbitration Awards

Payment Plans

HSG realizes that paying accounts (PPAs) are the most valuable segment of any portfolio. Accordingly, payment plans are monitored to ensure a response to any consumer whose account becomes delinquent. Additionally, all payment plans are periodically reviewed to determine if a change in the consumer’s circumstances suggests a modification of the payment amount. Payment plan volume is also tracked on attorney firm scorecards in relation to each firm’s competition in their state. Our successful payment plan management is largely due to:

• Follow-up on payment defaults
• Payment coupon books
• Written agreements obtained whenever possible to further secure the debt
• Periodic review of each customer’s financial situation for increased payment size

Judgment monetization

HSG does not subscribe to the view that the collection process ends once judgment has been obtained, in fact, that is when it truly begins. HSG work standards ensure that attorney firms are continuously working to monetize judgments, by filing liens, garnishing bank accounts and wages, holding debtor exams, searching for assets, and if the account debtor is not locatable, skip tracing. Judgment liquidation is tracked on each firm’s scorecard and performance is measured against their competition in the state.

State and Local collection legislation/regulations

The collection environment is changing rapidly, and HSG prides itself on its ability to stay on the cutting edge. HSG attorney firms regularly send updates relating to new legislation and regulations which may affect the collection process, including new documentation requirements, licensing, and unfavorable legal venues. These updates are stored in our internal database and incorporated into the HSGProScore model, which in turn makes our proprietary model even more of a valuable tool in identifying the right accounts for legal collections.

HSG has developed a cutting-edge and proprietary scoring and segmentation model, known as HSGProScore, which has been validated against years of collection data. HSGProScore is the industry’s only litigation scoring model proven to find suit worthy accounts utilizing the following variables:

• Minimum balance set by state
• Statute check by state
• Court costs by state
• Post judgment remedies by state
• Evidentiary requirements by county
• Bankruptcy, deceased accounts excluded
• "Litigious" debtors excluded (filed prior FDCPA claim)
• Address stability (critical for service of process)
• Property ownership
• Ability to pay (employment or available credit)

The chart below represents 12 month liquidation results which have been obtained using HSGProScore on credit card debt over the course of three years and millions in face value.

The chart below represents the typical score distribution of a portfolio.

HSGProScore is complimentary for HSG clients, and can also be purchased. Please contact HSG for details.

Reporting

Our focus is on providing clients timely and pertinent data that will enable them to make better business decisions relating to collection strategies as well as real time performance monitoring. HSG reporting is fully customizable according to client needs.

Scorecards

Scorecards go out on a monthly basis to all attorney firms and agencies. They break out liquidation rate, judgment liquidation rate, payment plan volume, key event activity, and overall performance compared to competing firms in the same state.

State and product level performance reports

State and product level performance reports allow clients to monitor liquidation performance by product type and state, allowing debt-buyer clients to make more targeted purchases.

Batch track & batch drill down reports

These reports allow for quick analysis of suits filed, judgment obtained and and liquidation rate by month of placement.

Physical Security

Facility and suite access is controlled and monitored by electronic key cards. All access points, including internal areas containing sensitive material or hardware, are limited to authorized personnel and tracked for all activity.

Monthly training

All employees undergo orientation and training when initially hired and on an ongoing basis as client needs change. This training includes but is not limited to: client production standards, HSG core principles, FDCPA, FCRA, and HIPAA.

Encryption

All transmitted data containing personally identifiable information is required to be encrypted with current industry standard encryption methods. All incoming files containing sensitive information from any third-party is required to be sent to HSG using this same level of encryption.

Software

HSG uses industry leading software to process, store, and manage all client information. This allows HSG to efficiently and securely transmit client information to all attorney firms and collections agencies.

Multiple Levels of back up

HSG uses multiple levels of secure, encrypted backup systems for near and offsite storage. All data is maintained in a secure offsite location for a quick and efficient return to daily operations in the unlikely event of a disaster or datacenter loss. Core applications and system access are on soft-standby and can be switched on for normal operations within a 24 – 48 hour period.