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Convergent Receivables Management

For nearly ten years Convergent has been developing expertise in working dormant judgment accounts. We have created a proprietary predictive recovery model and a highly specialized workflow for inventory that has either had a judgment placed on the account or is in a legal stream prior to judgment.

The Problem

With the increase in legal strategy collections, creditors are ending up with many more judgments than in the past. However obtaining the judgment is only the first step. Actually collecting on the judgment can be problematic, and as a result many judgments end up in an uncollected dormant status.

The Convergent Solution

Convergent has developed a specialized workflow to obtain collection on dormant judgements. We start with a proprietary scoring model that combines an external score with internal demographic indicators to create a predictive recovery model. An asset search is conducted along with manual skip/collection efforts in an effort to locate previously non-contactable accounts. An abbreviated legal talk off is then used to secure payment or reference account back to the attorney of record for execution through a discovered asset.

The Bottom Line

Increase cash flow as dormant judgments convert to cash.