In addition, Collection Professionals Inc. offers many reasons why using a collection agency is advantageous for financial institutions. Among these are: 1. Legal Protection There are numerous laws, some differing by state, that govern the debt collection industry, and well-informed debtors won’t hesitate to sue if they know a law has been broken. CPI is well-versed in these laws and rules for each individual state, as well as federal laws. Hiring CPI will mitigate the legal risks involved in trying to collect the debt on your own. 2. Documentation CPI keeps detailed records and documents on all interactions with debtors. Clients have access via a Client Access Website (CAW) to enter assignments, review the status of all assignments, run reports, observe collection history and trends, and send encrypted messages to CPI. 3. Skip Tracing CPI uses an advanced tactic called “skip tracing.” Skip tracing is the process of locating a debtor who has “skipped” or left town, hence the name “skip tracing.” This is especially helpful for cases in which the debtor hasn’t answered or returned repeated calls, emails and letters. 4. Experience CPI has been a premier full-service collection agency for decades, servicing clients large and small in numerous industries, including the financial industry. 5. Shifting Focus Back to What Matters Most importantly, letting CPI manage debt will allow you and your employees to focus on your core business activities instead of trying to manage debt collection efforts. 6. Communication Communication with clients is one of the cornerstones of our company’s foundation. CPI would welcome the opportunity to discuss its services and how it can assist you and your team with your collection needs. Visit cpicollects.com to get started today! 38697 Partner with us for: • Loan participation purchases and sales* • Bank stock financing • Bank executive and employee financing *We do not reparticipate loans. Craig McCandless Call me at 406.850.3790 Based in Billings, Mont. Serving Montana, Wyoming and Idaho Our Mission Is to Help You Succeed Community Banker 17
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