CBHV Financial

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The Account Resolution System (ARS) developed by CBHV is the result of over 40 years of enhancement to standard collection industry practices. The procedures encompassed by the ARS have been thoroughly examined and reviewed to ensure that they comply with all applicable Federal, State and City laws, including the Fair Debt Collection Practices Act (FDCPA), Fair Credit Reporting Act (FCRA), Consumer Financial Protection Bureau (CFPB), City, and Local Legal Compliance.

In compliance with the Federal Fair Debt Collection Practices Act (FDCPA), a first collection letter is sent to each debtor upon completion of account activation. This letter contains both the validation notice and the mini Miranda statement as required by the Act.

All new placements are analyzed through CBHV’s enhanced Account Collectability and Treatment Process.  This specialized data hygiene process ensures demographic information while providing a collectability score.  Each placement then follows a specified treatment process to produce the highest return.

In compliance with the Fair Credit Reporting Act (FCRA), CBHV works diligently to provide complete and accurate information to credit reporting agencies. It is our duty to properly investigate disputed information, correct any errors, or provide an in-depth explanation as to why the credit report is correct in a timely manner. Our process in compliance with FCRA involves a professional and respectful report to all consumers, informing he or she of any negative information which will be placed on their credit report.

Lastly, in compliance with Consumer Financial Protection Bureau (CFPB), our team makes priority to provide each client account with the required disclosures, accurate information, and complete consumer compliant and dispute resolution process – all in a civil and honest manner.

All collection-related phone calls are recorded to ensure compliance measures are met.

Telephone Resolution of Accounts
Once telephone contact is made with a debtor there are normally five situations that can occur:

  1. Payment in Full
  2. Payment Plans
  3. Unable to Pay
  4. Disputes
  5. Refusals to Pay

Dunning Demand
If there is no favorable response to our telephone demands, appropriate follow-up letters are sent as needed. Follow-up dunning notices are sent on accounts with no telephone numbers at least every 30 days over a 90-day period. These collection notices can be sent individually or as part of a dunning series pre-established by company or client requirement.

Asset Search
When a determination is made that voluntary payment and subsequent resolution of an account is not forthcoming, CBHV management looks at the recovery score, employment information, and home equity to determine if suit is appropriate.

Payment Options
Debtors afford a variety of payment methods. Payments may be made in person at our office, via mail, or by telephone utilizing either Western Union’s Quick Collect, E-Check (check by phone) or by credit/debit card (Visa, Master Card, or Amex).

Skip Tracing
CBHV is constantly upgrading system hardware and computer software in order to take advantage of the latest in the world of collection technology.

  • Auto Trace
  • Real Property Search
  • Credit Reports
  • Skip trace vendors