From Sale to Success: How Robust Post-Sale Support Transforms Debt Buying Partnerships
Following a debt sale, there are frequent requests for post-sale documents and media. Tracking a portfolio’s putbacks, buybacks, and communications can create a massive headache for both the seller and the buyer in the years that follow. As we often say, “A debt sale isn’t an event, it is a process.”
In this webinar, Sam Smith, EverChain’s Vice President of Client Success, and Mellisa Massey, Director of Business Development at National Credit Adjusters discuss all the details on post-sale support and how essential it is for both buyers and creditors. Hear from both a broker and debt buyer perspective about potential process wrinkles and how to keep the process as smooth as possible. Adam Parks, Founder of Receivables Info, also asks how certification and REG-F play a part in the post-sale demands and notes how EverChain provides seamless support during the post-sale process for both creditors and buyers.
Watch the full webinar below, or find it on YouTube here.
The webinar discusses the critical role of post-sale support in maintaining healthy partnerships between debt buyers and creditors, emphasizing efficiency, urgency, and the need for streamlined systems and documentation processes to ensure compliance and smooth operations.
Here’s an outline summarizing the conversation:
- Introduction: Adam Parks presents our special guests:
- Mellisa Massey from National Credit Adjusters: Mellisa has extensive experience in call centers, collections, and managing creditors’ rights litigation. She’s currently the manager of purchasing for National Credit Adjusters.
- Sam Smith from EverChain: Sam took an unconventional career journey from archaeology to work at EverChain, where he transitioned from SDR to managing post-sale strategy and client success.
- Importance of Post-Sale Support
- Discussion on why post-sale support is crucial for both debt buyers and creditors.
- Emphasis on how post-sale support affects efficiency, urgency, and agility in the debt-buying partnership.
- Role of Systems and Processes
- Highlighting the importance of efficient systems and processes for managing post-sale support.
- Challenges related to multiple systems within creditors and the need for streamlined data transfer.
- Account Documentation and Affidavits
- Explanation of how online documentation has made the affidavit process easier.
- Discussion on the time it takes to obtain affidavits and its impact on account handling.
- Handling General Account Documentation Requests
- Importance of providing quick access to documents for debt buyers’ audits and business operations.
- Challenges related to accessing documents from various sources and the need for a consolidated approach.
- Differences in Documentation Requirements by Product Type
- Highlighting the variations in documentation requirements based on the type of debt product.
Want to learn more about having the proper post-sale support, and why it is a must for both debt buyers and creditors? Schedule an appointment today with our business development team here.
Interested in viewing other recent EverChain webinars? Watch this Consumer Bankers Association-hosted webinar on The State of Debt Sales Market: Evolving Creditor Strategies for Handling Non-Performing Loans.
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.
