The establishment of an in-house collections unit would seem to be a lobby-worthy development.
Out of the two lates I mentioned...Amsher has gotten squat 5 days after loan went to collections, Prosper on the other hand has a pending payment after 6 days in collections. Out of 6 charge-offs, I had received $0 once the loan went to collections. The lone in-house account has already shown potential to be more effective (yes, .0001% isn't huge, but it's still an increase. And payment made and payment clearing are two different animals. I'll keep everyone posted).
Since I have not benefited at all from Firstsource/Amsher/Penncro...do the fees come out of my end (no pun intended)? If borrower X pays $1 towards my chunk of his loan, do I receive $.83 (using Amsher rates)? Or does he pay $1.20 and I'm made whole (on that payment, getting my $1)?