Creditors servicing pre charge-off delinquent accounts have
an additional leverage when using the GCS service...
Reduced Charge-Offs Through In-House Pre-Collection
- Virtually no risk - minimal upfront cost.
- Minimal operational cost, no IT resources required.
- Have your own delinquency resolution portal.
- Minimize charge-off rate by helping customers in early delinquency negotiate sustainable repayment terms.
- Handle easy debtors in-house and prevent charge-off of delinquent accounts.
Customer Retention Through Respectful and Accommodating Treatment
- Do not alienate debtors through aggressive collections practices or early charge-off.
- Delinquent debtors likely to return in sub-prime portfolio.
- Tie current debt repayment with benefits of future credit, e.g., offer future sub-prime credit line if debt repaid under more favorable conditions.
- Offer debt relief, e.g., reduced APR for a period of time instead of charge-off.
- Leverage credit reporting capability and consequences of bad credit to negotiate better debt repayment.
Increased Post Charge-Off Profit Through Use of Internet-Enabled Collection Agencies
- Use third-party collection agency for hard to reach debtors and post charge-off accounts.
- Get better pricing for debt collected through personalized self-collection.
- Increase response rate with non-intrusive, discreet and respectful technology.
- Maximize collected amount through automated debt negotiation.