Collectman, I'm just curious (as a numbers guy), per your experience, what is your rough estimate of DV requests received by a CA? We speak a lot about it here on this forum, but based upon your first hand knowledge, how many DVs do you receive out of how many notices you send out? Do you know what the industry stats are for DVs received?
I would guestimate about 1% if that. When we get a batch of account we letter about 10-20k accounts each time. While I'm not the one that processes the mail, I usually hear through the grapevine, and can see the dispute letters scanned into our accounts. When I worked at a larger agency they received about 2-4% or so, but I'm not sure how many accounts they were lettering in that package, possibly up to 30k accounts easily.
Interesting, the % is about what I SWAG'd also. I am amazed at the account volume! Those are overwhelming numbers.......
Those are just guesses on my end from what I hear about and what I see scanned into the system. The larger agency I worked for, only has 4 offices now, but they have atleast a million accounts, and that was back in 2002 when I left there.
Have you found any correlation between the type of the account (phone, cell phone, utility, med, CC) and the percentage of DVs?
"PDL" = pay day loan? Both CC and PDL would likely have involved tighter identification checking than, say, utility, phone, or medical.
Thats why we tend to buy those accounts, granted CC could have fraud issues, PDL is highly unlikely as they require positive ID when you get the loan.
