I have an "Ask Michelle" button on my website and every day through out the day I get questions from people who are starting collection agencies, or doing collection work. I always enjoy answering them, but get quite a few repeatedly. So I thought I would post some of them here for the many people who want to know, but don't ask. :)
I have personally used two different debt collection software packages. So can speak from experience on those two. They are Collect! and Totality.
When I first started my collection agency, I did everything manually. When I finally had enough money to even think about software, I purchased Abacus Totality, which is structured to be used by lawyers or collectors. Evan Zucker, who owns Totality, is coming out with a new version soon that can also be used by credit managers.
After a couple of years I upgraded my Totality to include the mail merge feature and would recommend this. It made my job so much easier.
I researched quite a few different software companies before deciding on Collect! once my business had grown much larger. I found them very helpful, and the software pretty easy to use, once you had it all set up. When setting anything up, such as your letters or downloading large amounts of accounts from Excel, if I ever had a question, I could call or email them and they would get right back to me and help me. The manual is not in print format, so I printed mine out and put it into a binder with tabs for each feature I would use, this way when I wanted to do something or one of my employees had a question, we could just look at the binder and find it easily.
Another software company worth checking out is Remware’s Collection Manager.
I have more information available at Credit & Collections, and many of these questions get featured in my monthly newsletter The Collection Connection, which is free.
If anyone knows of any other debt collection software packages that they can recommend, please post a comment! Thank you!
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