Harvest Strategy Group

Legal Collections

Harvest Strategy Group manages a nationwide network of the leading collection law firms in the United States. All HSG attorneys are members of the National Association of Retail Collection Attorneys (NARCA) and have been in practice an average of 31 years. Network attorneys work under a detailed set of account management guidelines and work standards in order to manage costs, quickly move accounts through the legal collection process, and increase net recoveries to the greatest extent possible.

Collection Agency Services

HSG employs multiple collection agency partners 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.

Pre-Legal Collection Services

HSG’s pre-legal collection partners are utilized in order to reduce the costs and increase the net recovery rate associated with a legal collection strategy. Once a population of accounts has been qualified for a legal collection strategy, accounts can be first placed with HSG’s pre-legal collection partners for a pre-legal talk off, allowing customers a final opportunity to resolve a debt prior to the account being placed with a local attorney for litigation.

ProScore™

HSG’s cutting edge legal recovery scoring and segmentation model that incorporates consumer-level data points as well as numerous other exogenous data point variables. Beyond the standard recovery score utilized by our competitors, this proprietary and highly sophisticated model supplements recovery scores with additional attributes that determine whether an account is best suited for direct legal action, pre-legal collections, direct collections or additional skip tracing and asset verification work. Initiating the right recovery strategy results in maximized liquidation rates being attained at the lowest cost.

Analysis

We begin by performing a detailed analysis of the portfolio using ProScore™. 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.

ProScore™ is the industry’s only legal recovery model that incorporates not only consumer-level data points but also unique exogenous variables such as court costs, post-judgment remedies and evidentiary requirements. Utilization of ProScore™ ensures that portfolios are placed in the recovery streams that will affect the highest liquidations, at the lowest cost, in the shortest period of time.

Years of collection data on millions of dollars of receivables validates that high-scoring accounts are 3x more likely to pay than the control group without ProScore™ applied.

ProScore™ is complimentary for HSG clients, and is also available to be purchased. Please contact HSG for details.

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 monitored by video camera, limited to authorized personnel and tracked for all activity.

Monthly training

All employees undergo orientation and training when initially hired and then on an ongoing basis. This training includes in-depth review and testing of collection regulations including FDCPA, FCRA, GLB and HIPAA, as well as client work standards, information security and the HSG Code of Ethics.

Encryption

HSG utilizes its proprietary and secure file sharing portal SILO to store and transmit documentation. All documents containing personally identifiable information is required to be encrypted with current industry standard encryption methods.

Software

HSG uses industry leading software to process, store, and manage all client information. This allows HSG to efficiently and securely transmit account level data to attorney and collection agency partners.

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.