FREQUENTLY ASKED QUESTIONS
- How does completing a credit application assist me?
- Can I receive data on my portfolio in regards to delinquency concerns?
- Can my product be confirmed prior to the cancelation period being expired?
- How soon should I place an order for replacement contacts?
- Should I assist with the collections of my delinquent accounts?
- Can I be funded on a faxed copy of a contract?
- Can I assist with the verification of the debt?
- Should I push my customer to set their monthly payments on a draft?
- If I have a change with my product, cost and/or service, how soon should I notify my financial institution?
- If I am aware that a change of address is required, how soon should I notify my financial institution?
- Should I accept cash payments from my customers; and if so, how should I forward them?
- Should I review and audit all contracts and paperwork before forwarding them for funding?
1. How does completing a credit application assist me?
By having sales reps complete the credit application, this will allow your financial institution to assist in the collections of your A/R while minimizing your losses or possible rate increases.
2. Can I receive data on my portfolio in regards to delinquency concerns?
You may contact your Dealer Relations Manager to receive delinquency reports for your personal viewing.
3. Can my product be confirmed prior to the cancelation period being expired?
It is your preference whether you desire your financial institution to confirm the contractual agreement before the cancelation period. Please bare in mind that we do not suggest this as we would like to assist you in minimizing cancelations prior to your cancelation period.
4. How soon should I place an order for replacement contacts?
In an effort to get replacement contracts to you in a timely fashion, it is helpful to notify your financial institution with a week’s notice.
5. Should I assist with the collections of my delinquent accounts?
Your financial company of choice is hard at work collecting these debts. We do however encourage you to communicate with your customers; in the event there is a service or product issue you may want to involve yourself with.
6. Can I be funded on a faxed copy of a contract?
We require the original documentation be received before funding. We understand special circumstances may arise, and you may discuss those issues with your Dealer Relations Manager.
7. Can I assist with the verification of the debt?
Your financial company of choice is hard at work verifying your contracts with customers. We do encourage your involvement in reaching customers in the event you are notified by your Dealer Relations Manager asking for assistance with additional contact numbers or if they are using your service etc...
8. Should I push my customer to set their monthly payments on a draft?
We strongly encourage you to push your customers to a monthly draft. We currently accept these in the forms of checking and/or savings. This will assist with the overall delinquency of your portfolio while reducing additional costs for your customers with late charges, etc…
9. If I have a change with my product, cost and/or service, how soon should I notify my financial institution?
This should be done immediately. It is imperative that everyone communicate on all products being sold and purchased. We also request that you forward any data that would support a cost increase, or information about the new service and/or product that you will be offering.
10. If I am aware that a change of address is required, how soon should I notify my financial institution?
We request immediate notification if a change of address is required so we may also communicate this with your customers.
11. Should I accept cash payments from my customers; and if so, how should I forward them?
We realize customers may want to make payments directly to your service. We ask that you encourage them to contact our institution so we may validate all information and also assist in the event of a financial hardship, etc... To prevent additional costs to you, we can also pull these funds from service pays and/or wires to assist in eliminating additional checks being processed.
12. Should I review and audit all contracts and paperwork before forwarding them for funding?
We encourage everyone to implement an audit process of all documents to assist in eliminating funding delays. We have noticed that with measures in place, this greatly reduces the unnecessary delays in funding.