PRECOLLECTIONS
Do we charge a late fee and a return fee for any failed payments?
No. One or the other.
Loan increases will be impacted if loan payments are made by Visa/MasterCard only
TRUE
Where would you find a customer’s disbursement date?
1st Date/Line in Payment Plan
How are payments applied?
We only charge one late/return fee throughout the life of the loan?
False.
How many ACH payments must a customer make to receive a loan quote from an L&R agent?
5
A customer’s disbursement date is today; what is their deadline to cancel their loan?
Next business day 3pm PST
How many days after a due date can you offer a late payoff?
We only charge one late/return fee throughout the life of the loan once an account in Collections status?
True.
A customer qualifies for a PPO; they want the promo but not a new loan. L&R agent transfers the call to CS. What do you do?
Assist the customer/Setup payment
A customer made a payment today and they need help on their next due date. They qualify for an extension. Should you apply the extension?
No. We must wait 3-business days before extensions can be applied.
When does the customer’s first billing cycle begin?
Disbursement Date
A customer’s payment returned, can they make-up the payment and increase the payment and the amount being applied to the principal?
No. Customer is in next billing cycle so must satisfy past-due and current fee before can apply additional amounts to their principal.
What rate/rates qualifies for a PMDD without verification?
Diamond/DP
ALS: What is the criteria for a customer to make a principal payment?
Less than min payment. Must be 4 bus days before NDD and 3 bus days after.
When does the customer’s next billing cycle begin after the first payment is processed?
The day after the previous payment is made.
If a late payoff returns, what status is Pinnacle reflecting, and what status should it reflect?
Pre-Collections. Should Paying as Agreed.
Generally, what is the maximum amount a L&R agent can increase from the highest issued loan?
$300 increases at a time
A customer has an extended due date, with payday in between the early payment and their first due date. What steps must be taken?
A follow-up must be scheduled for the date of the early payment. CS extends out to 2nd due date listed on the contract.
A customer’s minimum payment was processed yesterday. Can they schedule a pay down on their next due date?
Yes.