Arctic Software Launches Metro 2 Credit Reporting

Collect on Arctic debt management software announced the launch of its Metro 2 credit reporting Add-On for TransUnion, Equifax and Experian. This is the latest feature in Arctic’s initiative to bring micro-enterprise solutions to small and medium sized businesses around the country.

In the past, reporting to the credit bureaus has been a cumbersome process.  You first need to choose your accounts, you then need to format them into the approved Metro2 format, and then upload those files to your bureau of choice. Now that your credit bureau has your file they will run it and list the debtor’s information on their reports.  To complicate things just a little more you must now manage your accounts in your collection system as well as keep a separate database for all of the accounts you have listed on credit. You can see how trying to keep up with this is problematic at best and impossible at worst.   Another problem with managing disparate databases like these is that neither system assists you in meeting your collection agency’s FCRA requirements; it is still your responsibility to remember what you sent to the bureau and then make sure that PIFs and SIFs are reported as well as Frauds, Bankruptcy and Deceased information.

With Collect on Arctic and its seamless Metro 2 Module, any collection agency can now manage all of their Metro 2 reporting and FCRA requirements within one system.  The Arctic System will format a Metro 2 file for any bureau of choice. As collectors interact with debtors and update information, the Arctic system will create an M2-auto-file that will instantly keep a user’s credit listing up to date and accurate.

To meet FCRA requirements, the Arctic system M2-auto-file update system will generate an export file with all new information for accounts previously listed on credit. This update will include everything from payment information to settlements to obtaining fraud, bankruptcy, and deceased information to a debtor disputing an event and when needed, completely removing a report from listing.

One System, one button, at one low cost; all with Metro 2 on Arctic.

Arctic Collect is the industry’s first hosted collection software that provides low cost, enterprise level technology for the micro enterprise agency.  Arctic is feature rich and gives you the ability to upload accounts, export reports, generate your own letters that can be printed in house and manage multi-office locations all for just $64.99 per user per month with no set up fee. If you are a start up or an established small-to-mid sized agency you can pay less and get more with the Arctic solution. Arctic provides all the bells and whistles and helps you do business as if you were a much larger shop.