FOLLETT HIGHER EDUCATION GROUP SELECTS FEDCHEX RECOVERY FOR NATIONAL ACCOUNTS RECEIVABLES COLLECTION SERVICES
08 Dec 2010 Leave a Comment
in Uncategorized Tags: Accounts Receivable, Collections, Debt, FEDChex, Follett, Text Book Rental
FOLLETT HIGHER EDUCATION GROUP SELECTS FEDCHEX RECOVERY
FOR NATIONAL ACCOUNTS RECEIVABLES COLLECTION SERVICES
Irvine, CA – Oak Brook, IL – December 3, 2010
In the first quarter of 2010, FEDChex Recovery participated in a seven-location pilot for Follett’s Rent-A-Text, their latest cost-saving text rental program to collect charges and fees for unreturned books. The pilot proved successful and subsequently led to a large-scale rollout of Rent-A-Text to more than 700 locations.
“Follett introduced Rent-A-Text to make an impact on affordability, as we understand the rising costs of education for students and their parents,” said Lynn Arazny, Cash Accounting Manager at FHEG, “As found in any rental model, a small subset of renters neglects to return their rented materials – part of the risk in introducing such a program. We’re confident that teaming up with FEDChex Recovery will help us recover most, if not all, of those charges.”
FEDChex Recovery, a leading provider of payment processing and risk mitigation solutions, utilizes skip-tracing technology with internal and external negative databases, as well as Lexus Nexus and Equifax in order to locate and collect on delinquent accounts. In conjunction with this process, a series of collection letters are distributed and unlimited phone contact is made utilizing a state-of-the-art Predictive Dialer. When necessary, FEDChex Recovery uses direct relationships with Litigation and District Attorney Check Restitution programs across the country to collect these debts.
“Since 2003, FEDChex Recovery has been proud to offer Follett Higher Education Group our Electronic Check Re-Presentment Program (RCK), Balanced Consolidated Returns (BCR) and Traditional Check Collections services and we are very pleased to provide them with our Accounts Receivables Collection services now,” says Bryan Dube, SVP, Business Development. “We’re proud to say that our clients receive the highest recovery rates in the industry and are certain that Follett Higher Education Group will realize the benefit this service.”
About Follett Higher Education Group
Follett Higher Education Group is the leading provider of bookstore services and the foremost supplier of used books in North America. Follett services five million students and over 400,000 faculty members through more than 850 stores. Follett also services more than 1,600 independent campus stores with its wholesale services, and has the most visited ecommerce collegiate website, efollett.com, that provides services and products through a network of more than 900 campus stores.
About FEDChex
FEDChex Recovery is licensed in all 50 states and has established itself as one of the leading contenders in today’s collections industry by placing our focus on the needs of our clients and developing the tools and tactics to best assist them with the recovery of outstanding debt. Our customer service approach has enabled FEDChex Recovery to boast a higher recovery rate than any other national collection agency. Along with building relationships with our clients, we take great pride in offering a variety of tools and resources to help create a proven collection process. FEDChex Recovery is an associate member of the American Collectors Association (ACA), California Association of Collectors (CAC), and is a member in good standing with the Better Business Bureau in states across the U.S. For more information about FEDChex Recovery solutions, contact Bryan Dube at 866.599.1262 or visit FEDChex Recovery on the web at http://www.fedchex.com.
