Proper management of delinquent accounts greatly reduces the risk of default and increases the possibility of an efficient resolution with your borrower.
Loan Portfolio Servicing’s experienced collectors contact your customers and negotiate a payment solution.
We implement fintech solutions and work with clients to develop a successful calling strategy for your delinquent accounts. Our collection supervisors monitor each employee regularly, contributing to higher recovery rates.
Collection services also include:
Trained and Experienced Phone Reps
Because we understand the importance of your customers’ credit, Loan Portfolio Servicing reports account statuses to all three major credit bureaus (Experian, Equifax and TransUnion) every month. We resolve disputes and make necessary corrections using the latest methods available today.
Loan Portfolio Servicing stays informed on current and upcoming laws that affect your loans. We make sure the treatment of your accounts adheres to the Soldiers and Sailors Civil Relief Act. Each month, Loan Portfolio Servicing also compares the names of your borrowers to the Office of Foreign Assets Control’s blocked list.
We make use financial technologies to receive online payments since it has significantly proven to have higher recovery rates.
If we’re unable to locate a customer, our team scours file information and various data sources to find current contact information.
State of the art calling strategy-we customize the schedule and frequency of outbound calls based on your accounts’ needs.
Calls delinquent customers, listens to their situation and negotiates a solution that works for everyone.