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Collection Connection: 4th Quarter - October 1, 2015

October 1, 2015

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** Collection Connection: 4th Quarter - October 1, 2015 ------------------------------------------------------------

** ANNOUNCEMENT: Mary Hall Retires after 45 years with PFC ------------------------------------------------------------

It is with very mixed emotions that I share the news with our valued customers that our most tenured senior leader, Mary Hall, is retiring after 45 years with PFC. Although she leaves behind a very talented and outstanding team, Mary Hall can never be replaced. PFC will continue to grow and prosper, but at least for me, it will never be the same.

When I began my career at PFC on August 1, 1980, Mary was the Office Supervisor. We had 12 employees at that time. What I remember most about first working with Mary was that you had better pay attention when she was speaking. You see, Mary has 12 siblings. When you grow up in a family like that you learn to speak fast in order to be heard. I had never heard anyone who could talk as fast as she could. I was also immediately impressed with her supervisory skills and the tremendous respect and admiration the staff had for her. That has never changed as the company has grown over the years.

As in all businesses and industries, much has changed over the last 45 years. Certainly our business is vastly different than it was 45 years ago. Mary has always embraced change and always was an enthusiastic supporter of new ideas and new technology. From the days of card files and rotary phones, Mary has helped shepherd our company into today's environment of multiple sophisticated software and telephony systems.

If I had to point to one particular trait of Mary's, it would be her tremendous people skills. She has dealt with every employee, customer, and consumer issue imaginable over the years with patience and skill. She just has a special way with people in crisis. I will always remember the days when an occasional angry consumer would come to the office and get loud and belligerent. Mary's way of dealing with them would be to talk softer and softer until she could barely be heard. Soon that upset consumer would be calmed and Mary could then begin to explain and resolve the consumers concern.

Mary and I often laughed and joked that we would walk out the door at the same time. But the fact is, she's ready and I'm not. The words "thank you" for all she has done for me and this company seems inadequate, but I'm not sure what more I can say. It has been an honor and a pleasure to have worked together with Mary and I will be forever grateful to her for her dedication and loyalty to PFC.

On behalf of everyone who works at PFC or ever has, we say farewell to Mary and wish her all the best in her retirement.

Mike Shoop


** URGENT ACCOUNT VERIFICATIONS ------------------------------------------------------------

PFC's Dispute Process PFC has always conducted reasonable investigations of consumer disputes. However, with increased focus on such disputes by regulators and consumer lawyers, PFC is strengthening its investigation approach. As a result, information from you, our valued clients, may be requested on a more regular basis. PFC must ask that responses to these requests for information be processed promptly, as even original creditors have not been immune to recent consumer litigation surrounding these disputes. The Fair Credit Reporting Act mandates that we respond to a consumer dispute within 30 days, so your prompt processing of any information requests is greatly appreciated. Requests will be made by Megan McClanahan or Ashley Holzapfel and will be marked as urgent. While this latest development does appear burdensome at first glance, it truly is in the best interest of the entire credit system that credit reports are accurate.

** IMPORTANT INFORMATION ------------------------------------------------------------

Back to Basics

Under the original service agreement between the Client (you) & the Agency (PFC), there are several client obligations listed we wanted to review.

* Client will provide Agency with accurate and up-to-date information regarding the balance due and delinquency date of the Accounts.

* Client will provide to Agency all information regarding the Accounts necessary for Agency to perform the Services, including but not limited to: debtor name, address, telephone number, social security number, date of birth and employment information.

* Client will retain and provide to Agency within 30 days of Agency's request all supporting documentation regarding an Account, including itemized statements, consents, contracts and assignments.

* Client will notify Agency the same day of any (1) payments from any source received by Client on an Account, (2) bankruptcy notice or filings received by Client as to any debtor, (3) information that the debtor is represented by counsel, (4) notice that debtor disputes an Account, and (5) claim or threat of claim related to an Account.

* Client will provide Agency information regarding Accounts on a regular basis for purposes of reconciling Accounts and identifying any disparities.

* Client will promptly refer to Agency all communications, phone calls and correspondence received from debtor pertaining to an Account.

* Client will only assign for collection the principal balance due on an Account. Client will not include in the principal balance any interest, fees, late charges, penalties, or other amounts.


Insurance Holds vs. Cancellations

From day one of initial placement, PFC begins to work each individual account with the utmost of care. Collection notices are sent and scheduled calls are placed. Unless otherwise noted, credit reporting occurs 60 days after placement. For medical clients, we are very aware that insurance may be partially or solely responsible due to each account's circumstances. Once we receive any insurance information after placement, whether worker's compensation, Medicaid, Medicare, or a private insurance, PFC will put that particular account on a 30 - 90 day insurance hold. Please be advised that PFC is unable to cancel accounts solely based on the receipt of insurance information. We will diligently follow up to see if insurance has paid or adjusted on the balance. Credit reporting will continue to report until payments have been resolved, unless you request we remove while you bill insurance. Please note the service agreement states the following about collection fees: "Following the date of assignment, Client will pay Agency a collection fee on all monies collected from any source (including insurance payments), whether paid directly to Client or Agency."

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