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Legal Collection Software Checklist

  • Written by Collection Advisor

The following is a checklist collection professionals can use to help objectively determine which legal debt collection solution to select. Agency decision makers (evaluators) rank each one of the listed features on a scale from 1 to 5 in their respective column based on the feature’s importance to the agency (1 being least important and 5 being essential). Then in the “Software Possesses Functionality” column, decision makers can check off whether or not each feature is possessed by various prospective collection solutions. The final section on this checklist is composed of features suggested by collection software vendors for consideration.

Budget: ___________________________
Decision Makers: ___________________________
Date of Re-Evaluation: ____________________________

Legal Collections Functionality

Evaluator 1 Evaluator 2 Evaluator 3 Product Possesses Functionality  
        Integrated with pre-legal collections
        Integrated with Microsoft Word
        Track multiple cases for each account
        Multiple, configurable lines of legal business
        History of legal actions
        Held billings
        Release/approve billings for invoicing
        View legal documents history
        Unlimited number of liable and non-liable parties
        Individual case party statuses
        Track party garnishments
        Track party services
        Track party judgments
        Case and case party tasks scheduled automatically
        Multiple check requests based on court requirements
        Multiple legal documents based on court requirements

 

Recovery Functionality

Evaluator 1 Evaluator 2 Evaluator 3 Product Possesses Functionality  
        Pre charge-off collections
        Post charge-off recovery
        Agency/attorney management
        Asset sales
        Automated file processing
        Repossession tracking

 

Pre Charge-Off Collections Functionality

Evaluator 1 Evaluator 2 Evaluator 3 Product Possesses Functionality  
        Disputes/deduction codes can be assigned
        Identifies and tracks problem invoices
        Coded problems separates from other receivables
        Offers customer and invoice-level notes
        Electronically reproduces/transmits invoices

 

Vendor Recommended Functionality

Evaluator 1 Evaluator 2 Evaluator 3 Product Possesses Functionality    
        Import demographic changes via spreadsheet Contributed by: Hubbard Systems
        Import financial transactions via spreadsheet Contributed by: Hubbard Systems
        Re-classify costs as recoverable/non-recoverable Contributed by: Hubbard Systems
        Reimburse clients for non-recoverable costs not collected from consumers Contributed by: Hubbard Systems