Darren Charest is a former repo agent and skip tracer who started a niche marketed telephony company called US Tracers in 1993. Nowadays he's focused on developing highly vertical data products like RepoBOOST and CollectBOOST. As their names imply, they deliver highly distilled industry-specific data for an intended purpose. For example, RepoBOOST analyzes an Order of Repo i.e. similar to a loan application and returns results optimized to be the most actionable for lenders and their agents. This includes industry firsts such as automatically identifying third-party drivers (a major pain point), Place of Employment, and other vehicles a subject is known to drive -- a far cry from legacy data products.
Companies interested in working as a contractor i.e. Private Collection Agency (PCA) for the latest Department of Education (DOE) RFP should be aware of new requirements for their subcontractors. Most, if not all the PCAs will utilize subcontractors for Place of Employment (POE), and other mission-critical tasks. Without these subcontractors, PCAs stand to lose millions in foregone revenue.
Unlike the former RFP that mostly relied on the discretion of the PCAs to choose their subcontractors, this time the DOE requires that there is always a direct relationship between the DOE and the subcontractors -- no longer is there 2+ degrees of separation between say a data vendor and the DOE. Subcontractors must be validated/vetted in advance via System for Award Management (SAM).
With a 5 year"base ordering period" and another 5 year "Optional Ordering Period" the stakes are high not only for the winning PCAs to be ready to execute but also their chosen subcontractors. This starts with a thorough understanding of the new requirements and the operational know-how to perform quickly once the first flow of accounts arrives.
Are you an eager PCA hoping to come out on top? Are you confident your chosen subcontractors are equally ready not only when it comes to compliance but delivering best-in-class results whether it be POE or another service you rely upon.
We specialize in POE, in SAM we can be found under CAGE Code 7K2C7.