History of Field Contacts

Field contact have been an effective loss mitigation tool for many years by a variety of different creditors. "Hard Money unsecured lenders as well as beneficial and household finance began field collection efforts in the last 1940s. Auto finance entities, such as GMAC and Bank of America, have done so since the 1950s. Even today, local government municipalities utilize their own field investigators to recover millions of lost tax and fine revenues. A trend towards outsourcing field collections and investigations has been seen in the last 10 years due to the liability issues of large corporations having employees in the field.

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