TURNING POINT will provide daily collection activity on your loan or credit card portfolio by phone contact and collection notices. Your loans will be serviced and your members will have contact hours to reach us from 8:00am till 8:00pm Monday thru Friday and 8:00am till noon on Saturdays. TURNING POINT can develop a plan based on the credit union needs to handle a certain portfolio of delinquency or TURNING POINT can handle the credit unions entire collection portfolio from 1 day delinquent to charge off. This service can be provided as a stand alone service or packaged with any of the other services we provide.
TURNING POINT will determine and recommend to the credit union loans that are delinquent and are at risk of default for repossession review. Once approval has been received from credit union management TURNING POINT will initiate the repossession. Once the vehicle has been recovered TURNING POINT will make sure the vehicle is transported to auction and sold in a timely manner at a price set by the credit union. TURNING POINT makes sure that all necessary notices are sent in relation to the repossession and post sale of the vehicle. TURNING POINT will follow up and make sure that all proceeds from the sale of the vehicle are received by the credit union. This service can be provided as a stand alone service or packaged with any other services we provide.
As TURNING POINT is managing your collection portfolio it will recommend to the credit union accounts that it feels need to be reviewed for legal action. TURNING POINT will assist in the completion of the legal documents. Once judgment has been obtained TURNING POINT will assist the credit union in the location of the member’s assets for processing liens, garnishments, etc. TURNING POINT can also provide attorney contacts to answer or give opinions on legal issues that may come up. This service can only be provided with the ACCOUNT MANAGEMENT package.
TURNING POINT will manage and track your bankruptcy portfolio on loans or credit cards. It will review the bankruptcy notices and recommend to the credit union loans that may need to have bankruptcy filings completed. TURNING POINT will track bankruptcies for discharges or payments not received on Chapter 13 cases. TURNING POINT will contact trustees and attorneys to get status on payments that have ceased on Chapter 13 cases and work with the attorneys or trustees to resume payments. TURNING POINT will immediately notify the credit unions on any Bankruptcy filing that is dismissed so collection actions may resume on that loan or credit card account.
This package can be provided as a stand alone service or packaged with any of the other services we provide.
TURNING POINT will assist the credit union in the review of current collection procedures and policies and make recommendations to those policies and procedures to improve efficiency. We will also work with the credit unions on areas that may need additional support in the NCUA examinations.TURNING POINT also provides a standard set of weekly and monthly collection reports that include tracking of loan delinquency, bankruptcies, and repossessions. Most credit unions have incorporated the month end reports into their monthly board reports and packets. We will also setup regular meetings in person or by conference call to discuss the monthly process of your portfolio and to discuss any issues that may be concerning loans in your portfolio. This package can be provided as a stand alone service or packaged with any of the other services we provide.
TURNING POINT will take a list of potential new member base and make phone calls to them. Letting them know about your credit unions loan or credit card promotions. Interested candidates will be refered to the credit union within 24 hours for contact from a loan officer who will address their interest. This is a low cost but very effective way to increase your loan or credit card portfolio and membership base. This package can be provided as a stand alone service or packaged with any of the other services we provide.
“If your collection department isn’t running as efficiently as you feel it should, then you may want to consider OUTSOURCING.”
“If your profit margin is getting smaller and smaller or if you are operating at a loss each month you may want to consider OUTSOURCING.”
“If your credit union delinquency has been increasing each month or is not where you feel it should be you may want to consider OUTSOURCING.”
“If you need to decrease staffing to cut expenses or refocus staff in other areas of the credit union while not losing efficiency or productivity, then you may want to consider OUTSOURCING.”
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