Deal Pack Blog
BHPH Dealers: Good Collections Starts with Good Underwriting
In today’s market, with lengthening contract terms, down payments getting smaller and the cost of vehicles remaining steady, the collections process is becoming a larger issue within BHPH dealerships and finance companies. In addition to these factors, regulators are scrutinizing collections practices more closely. The collections process begins at the time the customer first approaches a dealer and a credit application is obtained. Simply put, the more information you have on a customer at the inception of the deal, the easier it is to collect on delinquencies.
Deal Pack has a very complete Credit Application module and Collections module that will help you with this process. Up to 15 references may be entered per prospect or customer. This information will prove to be invaluable when trying to collect on delinquent accounts. You may also enter Employer and Landlord information while in the Customer Reference screen.
There are many filters on the collections screen to help you remain in compliance with collections restrictions, such as the ability to leave any bankrupt customers off your call list. Help your collectors reduce the number of delinquent accounts by providing them the tools they need to contact customers. This will include phone numbers, addresses, email addresses, etc. to utilize text messaging, emails, CallFire, Voice Broadcast, regular mailings and all other features that DealPack has to offer. They need all the help they can get to do their jobs well!