CU Recovery's Solutions have been formulated through many years of providing collection relief in the credit union industry. Using soft-touch motivation to guide members in the resolution of their delinquencies, we have created solutions and become your resource for all subjects relating to maximizing recoveries from non-performing loans. As a result, we understand the difference between a member and a customer. We also understand the relationship that exists between a credit union's board, the CEO, and their members. Similarly, we understand SEGs and fields of membership, and we have worked hard to develop our products and services as a remedy for the specific needs of credit unions. Our collection solutions can promise you a thorough approach to maximizing recoveries from your placements.
The premise of the letter is to notify the member that if they do not act quickly to bring their past due accounts current, their creditor may refer their accounts to a third party for full collection. Some members are motivated to take action in order to avoid full collection. PCL's are a cost effective way to motivate a percentage of your members to bring their delinquent accounts current.
CU Recovery provides exceptional results working your delinquent or charge off loans on a contingency basis. The rate is based on volume, days delinquent, amount, and type of debt. If we don't collect, we don't get paid.
This is the most successful solution available for collection of closed share accounts. The secret to our success is a team of small balance collectors dedicated to negative share and checking accounts. It's a proven program with excellent results! Fees are charged on collection of debt.
CU Recovery has created a solution to fit your secured account needs. We provide nationwide coverage, along with status reports that are available 24/7 via our website. If you have a secured account that you do not want to repossess but would like to submit for collection Pre-Repossession Repossession, Collection, & Remarketing Repossession Remarketing Repossession & Remarketing Need Help Choosing?
This solution is the right choice when you just need to locate more information about your member with an outstanding debt. You get the information you need without other collection services being provided.
This solution was created as an antidote to the problem of getting files to the CU Recovery collection agents in a timely manner. We have learned the number one reason credit unions don't submit collection files is that there just isn't enough time in the day.
While it is true, our solutions have been created based on credit union needs, from time to time, we do have inquiries from commercial business asking for assistance in collecting overdue obligations. As a result, we have developed a solution for Commercial Collections. With this option, we perform standard collection work on delinquent accounts on a contingency basis.