Offset Method

A client contacted us last week with a problem so he requested a report which would do the following:

Problem: Creditor wants to place 1000 claims but the Creditor does not want to expense funds from his Company for collections. In other words, YOU put up the money to run profiles, verifications, and mail letters or file suit, etc. Now all this money comes from the creditors funds so how do you get it back?

Solution: Offset Method - Client allows you to deduct any monies spent on expenses for the other claims, in other words you can deduct any monies spent from money received. The problem was how do we account for this expense and develop a labor shaving method. (See the 3 Screenshots) Collections _ Expense Statement Collections _ Expense Statement 2

By now I can tell you, law firms and agencies have more ways to do the math than I ever knew. They are all different and some like to take the information in a specific order: interest, principle, costs and fees – any combination of these. Our system lets you have it your way. We default all systems to IPC, but you have the ability to override this on any claim or claims. IE: IPC, FCIP, CFIP, CIP, IP (see Claim Info Tab in the Casetrackerlaw system)

CasetrackerLaw also provides other types of offset reports which we will discuss at a later time.

*This report is not a custom module and developed on a per case basis. If you are interested in this report or if you have an idea for a report, contact us with a phone call or an email. There is always a live person ready to speak to you.

At CasetrackerLaw we are all about shaving the bottom line and reducing labor.