Revolutionizing Debt Resolution: EverChain Adding E-Signatures
Discover EverChain’s Coming E-Signature Feature At EverChain, we’ve been pioneering compliant and secure debt sales solutions for over a decade, always with a keen focus on enhancing recovery for both creditors and consumers. Today, we’re excited to preview a groundbreaking addition to our platform that’s set to transform the way you engage in debt resolution: […]
The Landscape of Debt in America: Insights & Figures for 2023
Let’s dive into a topic that touches almost every American: debt. We’re nearing the end of 2023, and the financial landscape has some staggering numbers to digest. The total household debt in the U.S. soared to a jaw-dropping $17.06 trillion in the second quarter of 2023, with credit card debt alone reaching $1.03 trillion, according […]
What’s a Debt Buyer?
What’s a Debt Buyer? If you’ve ever had a debt in collections, you may have experienced your account being purchased by a debt buyer. Debt buyers are businesses in the financial industry that partner with credit issuers to relieve some of the financial loss that can occur from lending money, goods, or services for which the […]
A Guide to Understanding and Using Buy Now, Pay Later Services
In the ever-changing financial landscape, innovative payment methods and solutions are revolutionizing how we manage our money. Among these groundbreaking innovations, the Buy Now, Pay Later (BNPL) model has swiftly risen to prominence, reshaping the world of consumer spending and altering our approach to money management. Astoundingly, it is projected that by 2027, BNPL services […]
Taking Unnecessary Risks With Consumers’ PII?
ARE YOU TAKING UNNECESSARY RISKS WITH YOUR CUSTOMERS’ PII? As a lender, you are entrusted with large amounts of your customers’ PII (Personally Identifiable Information) and, according to several federal statutes protecting PII, you are responsible for the security of that data. As the originating creditor, you likely have security and access protocols in place […]
What is an auto deficiency balance?
With nearly 2.2 million vehicle repossessions every year and over $600 billion in auto loans in the United States, many consumers may be wondering what leads to repossession and why they still owe money even after their car has been taken away. This is called an auto deficiency balance. The goal of this Money Chat Article – […]
Debt Sales as a Recovery Option for Creditors
Recovery options for creditors If you are like most consumer lenders, you know a portion of your loan portfolio will default. As a creditor, there are three recovery options you can do when a customer fails to pay their debt: Collect: Attempt to collect internally or Assign to a law firm or third-party collection agency […]
Customer Experience is Impacted by Collections
Customer Experience is Impacted by Collections, the customer journey does not stop at default. Recovery is part of the overall Customer Experience and plays a key role in client satisfaction and retention. As someone who is responsible for Customer Experience (CX), you know it’s important to have a hand in every customer interaction, from onboarding […]
EverChain “Why I Joined” with Kellen Thomas
EverChain “Why I Joined” with Kellen Thomas We sat down with EverChain’s newest team member, Kellen Thomas, who joined our Client Success department recently, as our Manager, Client Success. We wanted to understand the “Why” behind his choice to join EverChain, learn what drives him to do his best every single day, and what his […]
Non-Performing Loans EverChain Reduces Consumer Complaints
Non-Performing Loans, EverChain Reduces Consumer Complaints A major consumer lender who historically sold non-performing loans (NPLs) directly to an individual debt buyer was experiencing a high volume of consumer complaints. The lender wanted to determine if selling their accounts via EverChain’s Certified Network would reduce their consumer complaint volume. As a result, EverChain’s certified network […]
