Have you ever taken the time to think about what goes into the practice of commercial debt collection? Many think it’s as simple as our collection agents picking up the phone as soon as accounts are placed to request customer payment. This is true, in a sense, but not before our highly trained specialists complete the preliminary investigative process (AKA, preliminary investigative call or PIC).

Transworld Systems Commercial Division currently utilizes the PIC process within three business days of assignment. 

What is a PIC?
A PIC is made by a Licensed Private Investigator to probe for a variety of information from a principal or responsible party within the delinquent organization. If this party has questions regarding the investigative call, they will be referred back to our Commercial Division agents. The primary function is for the investigator to gather information to assist in Transworld Systems’ collection process.

Why are PICs used?
PICs are used to initiate and establish a foundation up front on an account before the first collection call, which is centered on developing a financial profile of the past-due customer. The profile assists in identifying both ability and willingness to pay. This is accomplished by contacting vendors, banks, business license bureaus, Secretary of State, tax assessors and other parties. 

Additionally, a collection agent utilizing this information during follow-up calls to the customer reinforces our ability to gather information relative to the customer’s repayment habits. This sets us apart from the other agencies and increases the priority of payment of our client’s debt from the customer’s perspective.

What’s the process?
Once an account has been received and completed the initial skip tracing, it is set on the PIC status in the collection system. Our private investigators will then contact the past-due customer and ask scripted questions to obtain information our collection agents may be able to use later.

Upon completion, the investigator will document their findings and submit a message in the collection system to the collection agent, advising that the investigation has been completed.

Have any questions about the PIC process or other components of our collection strategies? Please post them in the field below and we’ll do our best to respond!