Credit Card Collections
This workflow template illustrates the collection of outstanding credit card balances from individual customers (incoming and outgoing call processes). Purchase and download this template in PDF, Visio and PowerPoint formats, and customize it to fit your organization, or use it to better understand the Credit Card Collections process.
Related KPIs : Percentage of Inbound Promises to Pay Kept, Average Handle Time (AHT), Percentage of Right Party Contacts
What is Credit Card Collections?
Credit card collections is a process that involves the collection of outstanding credit card balances from individual customers (incoming and outgoing call processes). This process includes account verification (customer name, social security number, account information, etc.), payment (partial or full) and promise to pay acceptance (if customer cannot pay at the time of the call). Debt collectors must provide the customers they contact with a recitation of what is known as the "mini-Miranda rights" (an explanation that the call or contact is from a debt collector, that they are calling to collect a debt and that any information obtained during the contact will be used to collect the debt).
Download a Sample Credit Card Collections
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