HomeMy WebLinkAboutRESPONSE - RFP - 7304 COLLECTION SERVICES (3)M M r ! M M M M 1111M M M M M M M M M � Ml
r RFP City of Fort Collins 7304
LCollection Services
Interview Agenda
Professional Finance Company, Inc.
February 3, 2012
pfc
working together to resolve debt TM
Integrity, Accountability, Professionalism
F6rt
Clty of
Collins
M M M= M r M M M w r M M= M M= M M
Established Effectiveness
(cont.)
PFC Competitor
Total Dollars Placed $8,346,074 $8,346,074
Collection Rate % 44% 15%
Total Dollars Recovered $3,645,565 $1,251,911.10
Project Rate 25% 19%
Total Fees Paid $911,391.28 $237,863.11
Net Back To Facility $2,734,173.84 $1,014,047.99
Integrity, Accountability, Professionalism
M M 1=1 r IM = r r M M = M M = M = M ! M
[Agency Organization
Serving credit grantors in Colorado for 108
years
Manager has been with PFC for over 41
years
Average tenure of collectors is 6 years
170 + employees
Many of those 170 + employees with PFC
over 10 years
Integrity. Accountability. Professionalism
■M = r= r M r M= M M= = r M= IM IM
[Ability to Meet Requirements
Have exceeded requirements since
1994
Aggregate limits = $4,000,000
Business Liability = $2,000,000
Errors and omissions = $110001000
Integrity, Accountability, Professionalism
M M M M Wl M==1 M M M M M M Ml r M M M
Ability to Meet Requirements —
(continued)
Own 35,000 sq. ft. building
Currently occupy 80% of space
Ability for growth
Customizable collection software
Industry leading dialer technology
Industry leading telephony technology
Integrity, Accountability, Professionalism
Ability to Meet Requirements
(continued)
Pre -collect
Full collect
Legal processes
Returned checks
Integrity, Accountability, Professionalism
M M M M M M M M M M M M M M M M r M M
Rates
Rates to be lowered
25%
30% legal
* Actual commission percentage is
17.92% due to title/lien
Integrity, Accountability, Professionalism
r IM M M M M M M M r r IM" IM M M r r M
Established Effectiveness
City of Fort Collins, City of Loveland,
City of Cheyenne, City of Steamboat
Springs, City of Aurora, Town of
Parker, City of Wichita, Atmos Energy,
United Power
18 years working with the City of Fort
Collins
Integrity, Accountability, Professionalism
IM IM M IM M M w IM w IM M r M M i r M M M
Established Effectiveness
(cont.)
$8,346,074 placed for collection
$3,698,314 recovered
43.68% recovery rate
Rational average is 15% recovery
according to the ACA International —
2007 statistics
Integrity, Accountability, Professionalism
M Ml r M = M IM ! M M M M M M M M M M M
Established Effectiveness
(cont.)
3 Local In -House Attorneys
167 legal accounts in the past 4 years
Total Legal Balance of $41,867
Total Legal Collected of $26,306
Average file contains 4 different
accounts
Integrity, Accountability, Professionalism