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 of buyers undergo an extensive vetting and compliance oversight process to be in the EverChain network.
- THE TEST
This major consumer lender listed 50% of their non-performing loan portfolios onto the patent-pending EverChain platform and sold the other 50% directly to their usual Buyer. - THE TWIST
The same usual buyer won the bid, for the 50% of the portfolio listed on EverChain’s platform at a higher price. - THE OUTCOME
The 50% sold via EverChain’s platform at the higher price resulted in a 90% reduction in consumer complaints than the accounts sold directly to the Buyer. The lender’s post-sale headaches were eliminated, and profitability increased. - THE WHY
The EverChain-certified network of buyers manage their accounts with extra care as a result of EverChain’s strict compliance and quality standards. These certified buyers know that failing to meet these strict guidelines will result in them being removed from the largest network in the country.
About EverChain®
EverChain® facilitates compliant and secure debt sales for lenders and other creditors. We enable creditors to manage and monetize their uncollected receivables via our secure, sophisticated, and specialized technology platform (patent pending) consistently and compliantly. We aren’t simply a conventional broker or a buyer; EverChain® is an experienced debt sales advisor who has the expertise to help creditors optimize their recovery strategy while protecting their consumers, brand, and bottom line. One of the prime focuses of our business is to optimize compliance across all entities, including sellers, buyers, law firms, and agencies.
Want to learn more about how EverChain can help you with selling Non-Performing loans and reducing your consumer complaints you can read more click here, or to schedule a free demonstration with our dynamic sales team click here.
