Client Basics
What type of clients are we enrolling?
Clients who are in financial distress, unhappy, and likely have low credit scores.
What is the only email we give to clients to send us documents or ask any questions or concerns?
customerservice@resolutionprocessing.com
What are the three main credit bureaus?
Experian, Equifax, Transunion
What is a cease and desist letter?
The letter that demands any communications to halt and be directed to a different party
What is the minimum debt load required to enroll a client?
$8000
How can a client follow up with any questions or concerns?
Email and Call
What is a charge off on a client's credit report?
When a company writes off a debt as a loss. This occurs when a creditor has essentially given up collecting on a debt due to a lack of payment from the debtor.
What is a CB1 letter?
Creditor provided insufficient information regarding the request
What is the lowest monthly payment Resolution Processing will accept?
$250
What information must we collect from our clients at the beginning of every call?
Last 4 of SSN and DOB OR DOB and full address including Zip Code
What does it mean to dispute?
To challenge the legality of a debt to prove if the creditor has the documentation that gives the creditor the right to collect from the client and prove the client incurred the debt.
What is a CB2 letter?
Creditors failure/Refusal to Comply or Respond to request
Can a client re-enroll at anytime?
Yes, but it needs to go through a review and approval process
What is the maximum hold time while on a call with a client?
2 minutes
What is a debt collection notice (debt assignment, reassignment of a debt)?
A notice sent to inform a consumer when their debt is sold to a third-party agency to collect
What is a dispute letter?
The letter that demands a creditor or third-party collector to provide the requested documents to prove they can collect on the debt
What's happening when a client stops paying on their enrolled accounts?
Accounts are going delinquent, their interest is likely increasing, credit limits are being lowered, harassing calls are ramping up, debt load is increasing
If a client asks for your last name or their File Manager's last name, can you provide this information?
No
What is the right to offset?
When a financial institution has the ability to grab money out of a deposit account, like a checking or savings, in order to satisfy an outstanding debt to the same institution.
What is a Client Authorization Letter document?
Document that authorizes representation on behalf of a client. When signed by the client, it grants permission for another party to act on their behalf and represent their interests.