Return for Collection Process Change

Effective January 2015, ABC modified the RFC (Return for Collection) process to occur once a month instead of twice a month.

The RFC selection process runs on the 16th of the month, and the clients have until the 26th of the month to reinstate any account(s). On the 26th, the SCA (Send to Collection) process runs and accounts are then sent to a collection agency or club. The RFC and SCA process all occurs within one month; clubs do not have to look at two separate portions of multiple months to see the total number of RFC accounts.

ABC will continue to attempt soft declines until the accounts RFC. In addition, the club has longer to review the accounts and make any necessary changes on the preview report.

FAQ

Does the RFC process run on the 16th if the 16th falls on the weekend?

This process runs automatically on the 16th regardless of the day of the week.

Does the SCA process run on the 26th if the 26th falls on the weekend?

The process will run on the 1st business day after the 26th if that day falls on a weekend day. Because this is the final step prior to sending an account to collections, we want to ensure all requests to remove accounts from RFC status are complete prior to finalizing the list.

What is the impact of this change?

One of the major impacts of this change will be the age of accounts when they RFC. Accounts who just missed the RFC selection by a few days will now have an additional two weeks soft collection activity until the next RFC process runs on the 16th of the following month.

Is it possible to customize when or how often the process runs?

The process runs for all clubs at one time, so the run date cannot be customized. You can, however, modify the age in which an account is eligible to RFC.