Get Ahead of Your Collections
Between constantly processing new information, reaching out to borrowers, and creating payment plans to keep delinquencies in check, your collections team handles a lot—and that’s before bringing ever-evolving state and federal compliance regulations into the picture. It’s a tall order, and if your short-term results don’t deliver, your team could be viewed as a cost center within your organization.
These tasks are challenging enough as they are, but when you’re managing them within an insufficient collections solution, the daily workload can be downright daunting. With student loan payments resuming, increasing rates and housing prices, and a rise in delinquencies due to factors such as post-pandemic inflation, now is the time to think about an efficient solution to get ahead of your delinquencies and keep your borrowers from defaulting. Having a collections solution that helps your staff easily manage daily tasks and support borrowers in difficult times is crucial to maintaining positive outcomes while fostering better borrower-lender relationships.