Early Stage Collections / Customer Service

We continually invest in negotiation skills and Fair Debt Collection Practices Act training for our collectors. Our collection phone calls are regularly monitored by Supervisors and Managers to ensure collection efforts are effective and in full compliance of applicable laws. Using our automated predictive dialer and fully customizable collection software EQUIANT’s collectors will perform the following collection activity:

• We will make collection phone call attempts to remind your customer of their obligation. We rotate our collectors outside of normal working hours to ensure we are able to reach your customers by phone. Initial calls will be customer service oriented, and as additional payments are missed our collectors will tactfully inform your customers of future actions that may be taken to collect on the account and work with them for the best possible payment arrangement.
  
  
• We have a wide selection of collection letters to send to your customers, or you may provide us with your own customized letters to send. We will mail demand letters, notices of default, and notices of forfeiture or foreclosure, as you desire.
  
  
• Each contact that is made with your customer is recorded on a computerized collection log. Our phone system, Voice Response Unit, and word processing system are integrated with our computer system, so that each time a letter is printed or a call is made or received, the system automatically logs the letter or call. This not only makes our collections staff more efficient, but also enables our collection managers to monitor the effectiveness of the collectors.

Advanced Collections

In addition to performing all of the services described in Early Stage Collections, a more focused action may be needed to protect your asset. EQUIANT will carefully analyze each case and recommend and coordinate appropriate steps.

Generally, this action falls into one of these categories:

• Stronger approach in phone conversations and letters
• Greater frequency of calls and letters
• Skiptracing of debtors
• Contract Modification or Extension
• Referral to a Collection Agency specializing in Vacation Ownership
• Referral to an Authorized Reseller of Vacation Ownership Interest
• Referral to a Mortgage Broker Specializing in Debt Consolidation for Vacation Ownership investors
• Deed in Lieu Program
• Cancellation or Foreclosure
  

Although most of these tools have traditionally been reserved for accounts over 90 day’s delinquent, many clients are enjoying a better-performing portfolio by employing these tools earlier in the delinquency of the loan.

Past Due Notices

Once the grace period on a consumer contract has elapsed and a late charge is assessed according to the terms of the contract, EQUIANT will mail your customer a professionally laser printed past due notice. We have found the design of this notice and the information included to be extremely effective in recovering past due amounts and late charges. This very detailed notice:

• Politely reminds the customer that a late charge has been assessed
• Advises the customer of his/her current payment amount due, previous past due payments, current late charges assessed, and total amount due
• Includes an OCR scannable remittance advice and return envelope

Early Stage Collections / Customer Service

As an experienced servicer, we understand the importance of the client / customer relationship. We understand the factors that affect those relationships, and we are experts at controlling and reducing delinquencies.

Our Collections Associates are highly trained customer service personnel who treat every customer with care and respect. Many are multilingual and all abide by The Fair Debt Collection Practices Act. They are educated in the many options available for resolving delinquency issues and they are qualified to advise customers on the best possible plan to suit their needs. They look for the source of a problem and then offer options and creative solutions that return accounts to performing status.

Equiant Collections Associates are equipped with the most advanced data and communications technologies available. Our predictive dialer increases the number of customer contacts per associate for maximum efficiencies. Every customer contact is recorded and stored with the payment history. We provide customers with urgent payment options including credit cards and check-by-phone.

Customer Internet Access

Your customers will have the benefit of 24-hour access to account information at their fingertips. EQUIANT’s Consumer Central website will allow your customers to obtain payment histories and/or e-mail questions and comments directly to EQUIANT’s customer service.

Voice Response Unit

For loan and maintenance fee receivables servicing, we have a custom-designed Voice Response Unit (VRU) accessible to your customers by phone 24 hours a day, 7 days a week. Of course, during business hours your customer can press “0” at any time to speak with one of our knowledgeable, friendly customer service representatives.

Using their telephone keypad, your customers are able to:

• Access balance and payment history information on their account
• Request a payment book
• Request to begin making their payments using our SurePay program
• Fax a payment history to any fax number desired
• Perform many other inquiries and requests

We will assign you a special access code, which will enable you and your employees to use the VRU to access the same account information as your customers, or to request payment histories to be faxed to your office. This service is especially useful if your collections or contracts staff need account information when our office is closed.