ALS | Resolvion, the collateral recovery and transport firm, today announced the national availability of a unique collection service focused on small outstanding balances where the lender still holds title to the underlying collateral. National availability was announced after the completion of successful test programs with two of ALS | Resolvion’s major clients.
The service, called EZ Collect is ideal for collecting on accounts where minimal principle payments, late fees, extension fees and other penalties are outstanding. Because ALS | Resolvion has both the authority and capability to pursue a repossession, borrowers pay much more attention to the collection efforts. “Very few people are going to risk losing a truck or piece of equipment over relatively small outstanding balances. Accordingly we are finding that collection rates are extremely high for this type of account… in the 60%-80% range ” says Michael Levison, ALS | Resolvion’s CEO.
ALS | Resolvion views EZ Collect as a superior alternative to a traditional door knock service. Rather than simply delivering a letter to a last known address, ALS | Resolvion deploys both its internal skip tracing staff and its vast network of field agents to find missing borrowers and establish contact in the field. Unlike door knock services, the fees charged are contingent on success and are generally paid by the debtor. EZ Collect fees are also based on a flat fee schedule rather than a percentage of the outstanding balance.
“In today’s tough environment lenders are looking under every rock for revenue. EZ Collect provides an attractive opportunity,” says Levison.
For more information on the EZ Collect service contact Fred Costabile at firstname.lastname@example.org or 770.431.5124.