| It's easy to begin streamlining your internal collection procedures and integrating charged-off and performing debt sales into your organization's recovery policies and procedures.
1. Obtain the Debt Sales Manual from Au by signing and returning the Marketing Agreement *.
2. Carefully review all Au informational material regarding contract issues, your responsibilities and how to categorize charged-off debt.
3. Determine criteria for which type of accounts you wish to sell, the most common being:
- No payment received within the past nine months (regardless of in-house or at agency)
- Bankrupt or non-bankrupt
- Out of statute
- Non-secured or secured
4. Recall appropriate accounts from your collection agency. Direct the agency in writing to close and return the accounts that you choose to sell. A sample close and return letter is provided in the Au manual.
5. Within 45 days of the sale, transfer an electronic file of your accounts to Au by downloading it from your data system directly to an Excel spreadsheet*. Simply hand the requirements* off to your systems administrator and relax.
6. Once the file is prepared, follow the steps to transfer your data safely to Au*. Au staff will review your data and include it in the next scheduled sale.
* Some resource files are restricted to established clients who have created an account on this site. If you are already an Au client, register on the site for access. For more information about becoming a client, contact Au today.
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