Repossession
What is the GO-NO-GO Tool used for?
This tool is used to determine whether a repossession should proceed
A customer calls and is interested in a settlement. The current balance is $15,000 and the customer still has the vehicle. The nada values is $10,000. Does the account qualify for repossession?
Yes
Besides the Demo Screen, Relationship Tab, Collection Notes, and Call History, what additional resource should be reviewed during the 1st Touch to locate phone numbers in UCRS?
Under Customer Details
How many touches are included in the Skip Trace process?
4 Touches
What is the minimum number of days required to schedule a voluntary repossession pickup?
18
When offering a settlement, what disclosure must be provided to the customer before finalizing the offer?
1099-C
A customer references a conversation from several months ago, but the notes are not visible on your current screen. What button should you select to display additional account comments?
Get more comments
When servicing an account with a zero balance, what action code should be used if customer called to make sure their account is paid off.
NOAR
This AR tag is applied after completing the voluntary repossession and templates.
Review | Volrepo
In Pega, what does the app name need to be changed to in order to get to the settlement section.
WAVE: CVL_REVIEWER
A customer calls in requesting bi-weekly automatic payments. What is the maximum number of future payments you can schedule during the call?
12 months
A customer calls in seeking payoff information. After providing the full payoff amount, the customer advises they cannot pay the balance in full. What is the next question you should ask?
What is currently preventing you from paying off the account in full?
The balance must be above what amount in order for an account to qualify for repossession?
$2,000
A customer has the vehicle and qualifies for a settlement. What fields needs to be filled out when creating the offer?
Settlement type/who did we speak with/ collateral value/source of settlement funds
A customer calls in to pay off their deceased uncle's account. When you access the account, you see a deceased (DCSD) tag already on file. What should you do?
Warm Transfer to the Estate Team
True or False: A vehicle's year and model can be used as an authentication token.
False : Yr, make, and model
Customer called in to have their car voluntarily repossessed. Customer advised us that the vehicle is located at a family member's house. What are two options the customer can do in order for us to repossess the vehicle from a 3rd party location?
A customer wants to voluntarily surrender their vehicle, but it is located at a family member's home. What are two options available to allow Bank of America to repossess the vehicle from this third-party location?
What fields have to be filled out when offering a settlement for an account that has already been repossessed?
Settlement type/Who did we speak to/ repo date/proceeds date/proceeds amount/ source of settlement funds.
A customer resides in New York. Before reading the Mini Miranda, what additional disclosure must be provided?
New York Language Preference Disclosure
A customer calls in and already has five monthly payments set up on an arrangement. During the call, you add the 6th payment to complete the six month arrangement. What action code should be used?
NOAR