Recognizing its inability to keep up with the workload, the school hired BPA to help organize, manage, and ultimately improve the performance of the portfolio

The first phase of the project involved a detailed cleanup effort to ensure the validity and accuracy of each account including:

Aggregating all the student data from the school and the third-party collection agencies including balances, statuses, and historical payment histories

Match accounts with campuses and borrowers and reconcile the data to ensure accounts placed with collection agencies are accurate.

Once the portfolio was fully reconciled for accuracy, BPA began working on improving the recovery performance which included:

Creating a champion-challenger program where accounts were recalled from under-performing agencies and directed to the best performing agencies

Bringing new agencies onto the portfolio to compete with the legacy agencies which BPA inherited when it took over management

Managed agencies to discuss opportunities or challenges and update them on their performance relative to the other agencies

Gross recoveries increased over 100% in the first year compared to recoveries from the school’s management of its own portfolio

Account accuracy improved as BPA loaded all third-party data onto its proprietary database and updated all accounts regularly

School resources were freed up to focus on other priorities