Closing the Books by IC System

The world of debt tends to creep up on many businesses. One moment it’s a small purchase on a credit card, the next it’s thousands of dollars with high monthly payments and high interest. Sometimes with this debt, businesses even fall into missing payments and become delinquent. This is where debt collecting agencies come into play. In working with the thousands of clients in the IC Systems’ portf...

In general, the debt collection industry suffers from a poor reputation. And the idea that a consumer in debt could describe their experiences working with a debt collection agency as positive is strange tomany people. Closing the Books host Tyler Kern spoke with Brian Eggert, Marketing Specialist at IC System about these various perceptions and how to best set expectations when working with a deb...

Returning guest Michelle Dove, Chief Compliance Officer and General Counsel for IC System, sits down with host Tyler Kern to discuss the changes implemented by Regulation F and how they’ve effected IC System as well as the broader debt collection world. “I am mainly tasked with understanding the law that applies to the collection industry and making sure that our practices are adhering to the law,...

The utility industry is one of the many industries IC System helps collect on past-due accounts. Karen Jonas, Senior Vice President of Business Development for IC System, spoke with Closing the Books’ Tyler Kern on how to help customers get back on track with their utility payments. IC System works with a plethora of utility companies of all size, like electric, gas, municipalities, or regulated o...

Lee Brockney is currently the Manager of Financial Planning and Analysis Manager at IC System. After 19 years with the company, he wears many hats today. He’s in charge of general project pricing, financial forecasting, cost analysis, budget, and other ad-hoc reporting. He’s also an active Chairman of the Innovation Committee. He’s poised to discuss the innovation within IC System and how they enc...

When it comes to the debt collection industry, many consumers who have been affected by past due debt have had negative experiences with the debt collectors contacting them. After the financial crash of 2008, the federal government created the Consumer Financial Protection Bureau (CFPB) to regulate the debt collection industry and protect consumers from unfair collection practices. IC System, foun...

Every day, more and more cases arise within the utility industry where customers find themselves with average balances increasing over 25%, especially given current economic indicators of inflation. Energy bills are piling up, and consumers are disconnecting as their bills become more difficult to pay off. For debt collection agencies, the longer the disconnected account goes without paying their...

The most expensive car ride someone may take in their life is an ambulance ride, which racks up to a whopping average of 1,200 dollars. Most individuals probably cannot or will not pay that bill outright, meaning it will serve as a form of debt to them. So, how is credit debt any different from more “voluntary” types of debt and how does it impact patient credit scores? On today’s episode, Host Ga...

Bryan Campbell, Business Development Manager at IC System talks about the options for affordable debt collection services. Key points: IC System offers an online solution based approach to debt collection. Within 24 hours InstiCollect can have debt monitoring activity. InstiCollect allows for credit reporting, skip tracing and more. IC System strives to make debt collection better. With innovation...

On the newest episode of Closing the Books, a podcast by IC System - expert in all things debt collection - host Gabrielle Bejarano chats with President and CEO of IC System, John Erickson, about the challenges of debt collection for the previous years, rolling into 2023. The two discuss... 1) The impact the past few years of consumers’ ability to repay debts has had on the business and IC System’...

IC System, a family-owned and nationally recognized debt collection agency with 85 years of experience, can effectively help you recover revenue and ease your accounts receivable burden. Whether you're a first-time client or have previously worked with other agencies, we simplify the process of sending accounts to collections. On today's episode of Closing The Books, host Eric Johannes speaks with...

IC System, a family-owned and nationally recognized debt collection agency with 85 years of experience, can effectively help you recover revenue and ease your accounts receivable burden. Whether you're a first-time client or have previously worked with other agencies, IC System simplifies the process of sending accounts to collections. On today's episode of Closing The Books, host Eric Johannes sp...

With the growing world of healthcare and rapidly changing federal, national, and local regulations, it's a priority that healthcare professionals and facilities stay up-to-date on current industry trends, particularly as it pertains to debt and finances. That is the fundamental purpose of the Healthcare Financial Management Association, or HFMA. In this episode of the podcast "Closing the Books,"...

On the newest episode of Closing the Books, a podcast by IC System, IC System's Bart Shea, VP of Client Development shares his personal journey in the industry, his passion for the HFMA, and his debt collection industry insights with host Gabrielle Bejarano. The two discuss... 1) Shea’s journey in the collections industry 2) Why participation in the HFMA is so important 3) Where Shea sees debt rec...

Consumer debt is steadily climbing due to trends such as pandemic recovery (e.g., rent recouperation), fear of recession, healthcare (e.g., pushing more healthcare costs onto patients), and other current trends. Smaller businesses will be impacted more due to their lack of resources and training to collect this increased debt. In a new episode of the podcast "Closing the Books," host Eric Johannes...

On this episode of Closing the Books, host Gabrielle Bejarano speaks with T.J. Lee, Director of Operations at IC System. Lee wears many hats at IC System, so he knows a thing or two about debt collection challenges and how inflation has impacted collection agencies. “Coming out of the pandemic, it’s definitely been challenging. Says Lee. “(During the pandemic), people were paying down old debts be...

A collections agency that is nationally licensed ensures compliance within each state it operates. Chris Morris, VP of Client Success at IC System, spoke with Tyler Kern about the ins and outs of being nationally licensed in the collections industry. Becoming a nationally licensed collections agency is a complex, intricate process that can take a year. And with the sensitive financial transactions...

Michelle Dove wears a lot of different hats as a General Counsel and Compliance Officer for IC System. She provides legal advice on many issues that might face the company. Dove shared her thoughts and experiences on compliance and risk management challenges in a collection agency setting. For more information, visit https://www.icsystem.com/.

A healthy and prosperous collection agency needs a recovery management software solution that can put it one step ahead of the competition. Karen Jonas , Senior Vice President of Field Sales for IC System , and Thom Majka, Director of Business Development, DebtNext discussed the partnership between the collection agency and software platform provider and how this bond makes success at IC System po...

To create a winning formula for a compassionate and empathetic approach to the collections’ process, Allison Johnson , Training & Development Manager at IC System , knows the secret is in training. A well trained and developed team of collection representatives are the backbone of any collection agency, and Johnson was excited to share her approach. “Our main priority is making sure that the n...

Working at IC System for the past 15 years, Kristina Gursky , Director of Healthcare Account Management, has learned a thing or two, or 12, about the healthcare space's collections process. And, while the revenue cycle in healthcare is always changing, one thing remains the same: the need for compassion and empathy. Gursky said keeping up with all of the various billing processes and changes durin...

Chasing down a debt can be an unpleasant process, but that makes it all the more important to pick the right collection agency. In many ways, IC System Vice President of Client Service Chris Morris said, the collection agency is an extension of your business. While a payment may be delinquent, the relationship between a business and a client is still important. “You selected this collection agency...

Debt collection isn’t a new business. It has evolved dramatically since IC System’s founding over 80 years ago. With regulations, technology and a changing economy, organizations need a debt collection partner they can trust. Bryan Campbell , Business Development Manager of IC System , shared his expert advice for those that need help with receivables. “A partnership focus where the agency is an e...

John Erickson , President and CEO of IC System , believes there’s a compassionate way to approach the collection agency business. That model leads to higher recoveries and positive outcomes for clients. A lot in the industry has changed in Erickson's 20-year involvement with collections. Increased regulations, and a re-thinking of the approach, helped reduce some of the more aggressive tactics use...