Acronyms
What does PCA stand for?
Pending Client Approval
Name 3 types of creditors that qualify for additional funds?
Avant 36%
Pre-Charge Synchrony Bank 35%
Pre-Charge Barclays 35%
Pre-Charge FNB Omaha 35%
Pre-Charge USAA Savings Bank 45%
Pre-Charge Genesis 35%
Pre-Charge Citizens Bank 40%
Pre-Charge Comenity Bank 40%
Pre-Charge Best Egg 40%
Pre-Charge US Bank 40%
Law Firms N/A
Last Account on the DS N/A
Clean Up Accounts N/A
High Risk N/A
Which bank do we fax the ATC to 877-825-1726 when it hits 210 days past due?
Citi Bank, N.A.
At what tier does a negotiator become eligible for SS assignments?
8
What does PSL stand for?
Pending Settlement Letter
What date should you put in for the first payment for a Discover credit card this month?
May 23rd
For which creditor can we call the locator at 702-405-2042 and with the last 4 of the account number find out where it's placed?
Credit One
What type of accounts are in Batch 1?
Clean up
Law Firms
Last accounts
High Risk accounts
What does RTP stand for?
Ready to Pay
What is the criteria for Balancing Adjusting Down?
WHEN TO ADJUST:
• (Original Balance less than $10,000) 30% difference between the Original and Current Balance
• (Original Balance more than $10,000) 20% difference between the Original and Current Balance
This scrubbed debt buyer goes by two different names. We recently lowered our cap to below 50% and they can be reached at 888-242-3711
Resurgent Capital Services or LVNV
How many tiers are there and how do you move up in tiers?
12 Tiers. At EOM achieve 107% or more of debt goal while being under the SIF% cap
What does PMA stand for?
Pending Manager Approval
What is the Settlement Finalization Policy?
Settlement Finalization Policy
Before submitting a settlement offer to the client, you must contact creditors to confirm settlements and accept either verbally or via email.
What creditor can be reached at creditcounseling@enova.com and can do 30% over pays when calling in?
Cash Net/NetCredit
What are the two steps to take when you find out an account is current?
Set the "Client is Paying Creditors" RI and set the days past due to 1
What does SIF stand for?
Settled in Full
Explain the T-2 Policy
When SIFing two or more CCs/DS, we must collect 65% of all fees within 3 months
This creditor has at least 5 different account types including Target, loans, credit cards and retail cards
TD Bank
Name 4 places to find a creditor's contact information.
1. Contact sheet
2. Past and current Credit Reports
3. Salesforce Search function
4. Google