Due to the credit risk profile, Go Car Credit install a Payment Reminder System in all vehicles. The primary collection method is via Standing Order. Where the payment fails the Sentinel Collections module takes over.
The system has a series of collections strategies that have been implemented for Go Car Credit.
The workflow efficiently manages arrears cases by moving them automatically through a workflow. At the appropriate stage letters, emails, and SMS messages are sent to the customers based on Go Car Credit’s collection policies.
In all correspondence, customers are given the option to make payment via the Sentinel Quick Pay Module, a customisable web payment portal run from the Go Car Credit website.
In addition, a number of customers in arrears will look to enter arrangements. Arrangements are tracked automatically by the system and if a customer does not meet their arrangement the system will transition the account to a failed stage to automate communications to the customer.
Repossession and legal processes are also controlled from the Collection Workflow ensuring a consistent, efficient outcome.