A while back, our partners ARM Solutions – who specialize in collections – sent out an announcement. It dealt with a new piece of legislation concerning required customer information. Starting this month, the requirements for reporting bad debt information to a consumer’s credit report will be changing. The new legislation will require a Date of Birth or a Social Security Number for any collection or cash flow transaction.
At ServicePro and ServSuite pest control software, we make an effort to keep up with current industry trends and legislative. You can now see the Date of Birth field when adding a New Account to ServSuite. Once you add an account, you can find it under ‘Contact Information’, when looking in Billing Information. You will also be able to add a DOB to your Additional Contacts. ServSuite is your pest control software that keeps up with the industry trends!
ARM Solutions Will Use DOB Information to Execute Collections from ServSuite Pest Control Software
In their letter to customers, ARM Solutions explained: “The three major credit bureaus are adding additional required information that we must submit in order to successfully report a collection account for a consumer. Specifically, to ensure an account is able to be reported, we must include the consumer’s full social security number. If a social security number is not available, we may send the consumer’s date of birth along with other usual identifying information such as name, address and phone number. If a date of birth is submitted without a social security number, the credit bureaus reserve the right to make the determination of whether or not they feel the information is complete and accurate enough to actually submit a credit mark. So the only way to ensure accounts are marked appropriately is to include a social security number.”
Feel free to contact us for more information on ServSuite pest control software!