Probate Finder on Demand Newsletter, January 2023

DCM Services has recently moved into a new office headquarters at The BLOC, located at 1550 American Boulevard E, Suite 200 in Bloomington, MN. DCM Services has seen exciting growth in recent years and the new office site offers the setting necessary for further developing employees, better servicing clients, and facilitating future growth.

As the American population continues its transition of the largest living adult generation from Baby Boomers to Millennials, many statistical differences between the two groups are coming to light. One particularly relevant aspect is the financial impact of the pandemic.

Ten years ago, DCM Services conducted an informal survey of more than 100 health systems and other providers in an effort to understand current practices in the management of decedent accounts. At that time, almost 85% of survey respondents indicated that they did not search for probate estates, nor did they file claims. Survey respondents also acknowledged that they knew there was opportunity to enhance compliance and gain substantial revenue by creating an effective estate strategy but noted that they lacked the expertise and resources.

DCM Services, LLC (DCMS) the industry leader in estate and specialty account recovery solutions, has launched a new Quick Pay feature within DCMS ServiceLink™. We are also pleased to announce the official launch of chat functionality within DCMS ServiceLink. Clients who are eligible will have the option to allow online chat between their consumers and DCMS account representatives.

TriVerity™ (formerly CU Recovery), a PSCU company, announced it has partnered with DCM Services, LLC (“DCMS”), the industry leader in data and contact management solutions for the estate and specialty receivables recovery market. The partnership will benefit credit unions across the nation as the two organizations combine their expertise in the accounts receivable management (ARM) industry.

Most would agree that the COVID-19 Pandemic has affected all aspects of life and business this year. The impact of the pandemic on consumer bankruptcy case filings has been surprising to say the least. After the initial spread of the virus triggered a rash of stay-at-home orders, consumer filings in April dropped suddenly and sharply. In April, new consumer case filings dropped 39% from the prior month. May and June continued to see fewer consumer case filings as well, both months new consumer case filings were down more than 30% from comparable 2019 rates.

Auto portfolios experience complexities and process dependencies which cannot be solved with simple adjustments. These processes require alignment that permeates throughout multiple departments to maximize recoveries, and ultimately provide the best survivor experience.