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Claims, Compliance, Client Service - YGC part of the Solution

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About Debt Placement Management

Clients (creditors and debt buyers) with large debt portfolios may need to ‘place’ them for collection with collection agencies and law firms. Those organizations then contact the debtors on behalf of the creditor, seeking repayment of the overdue loan. These accounts are typically worked for several years after the debt has been charged off and could be placed with more than one agency over that time.

When you consider that a client might have 50 or 75 agencies and law firms working for them, each using different collection software, and each agency might have 30 or 40 clients sending them data, each in a different format, the need for tools to manage this information constantly flowing back and forth becomes quite apparent. YGC provides those tools.

YGC helps creditors and agencies not only exchange information, but analyze information. YGC provides the central data transmission point and standard data format so that agencies only need to write one data interface and only need to make one network connection to obtain and return placement data from their customers. Creditors placing accounts through YGC only need to send/receive one data format over one network connection to be in touch with all their agencies. YGC also provides powerful analytics for understanding what is happening with the accounts on an apples to apples basis. Agencies can use this information to make sure they are in compliance with their service level agreements with their creditors. Creditors can use the information to compare performance across different portfolios, geographies, agencies, collection strategies, etc. Creditors can also use YGC online tools to audit agency performance to ensure agencies are in compliance with their SLAs.