Collections

Our post-close servicing module can:

• Identify late payments on individual contracts and unpaid accounts beyond your pre-determined grace period
• Provide a detailed 360 view of accounts at the customer and/or contract level
• Send print or email communication automatically from the solution to the borrower, providing a reminder to submit payment
• Escalate unresolved delinquent accounts with more formal communications
• Account for the impact of the unpaid contracts in your general ledger, helping you maintain accurate profit and loss estimates
• Trigger and track legal proceedings or collateral repossession activity. History tracking provides a record of the attempts made to receive payment, ensuring you are maximizing the collections effort with the customer
• Terminate the contract and report the loss for accounting purposes

The collections workflows are automated with your policies and preferences determining the triggers, timing, messaging and escalation actions.