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 scanable remittance advice and return envelope