The key purpose of the collections department is to establish contact with non-paying customers, we seek to understand their personal circumstances and in doing so, recognise root cause of their financial difficulties. We do this whilst simultaneously driving to deliver the right outcome for the customer, whether it be those who have missed one payment, or who have fallen into arrears of several months.
As we are regulated by the Financial Conduct Authority, our Collections process is designed to provide specific, tailored forbearance to help enable our customers to make repayments which are affordable to them. At the top of our list of priorities is to treat our customers fairly and ensure we are not adding to any financial difficulties they may be experiencing.
We aim to maximise cash recoveries endeavouring to prevent accounts being passed to external debt collection agencies.
As communication with customers is of the highest importance, we deal with a range of mediums, including both inbound and outbound calls, letters and email. Utilising these avenues allows us to respond efficiently to customers queries and to develop strategies for effective, customer focused collections activities.
Additionally, to our core collections team we also house a 'Specialised Collections' support team who work directly with external debt collection agencies. They deal with all accounts which have reached the end of the arrears cycle with us, ensuring that when transferring accounts to debt collection agencies is unavoidable this is done in the most efficient way possible.
The specialised collections team is also trained to deal with instances of insolvency, such as trust deeds, bankruptcies, sequestrations IVA's DRO's & DAS'.
All our staff are trained and are provided with a wide range of tools to ensure they can support and help our customers. They are also trained to identify vulnerable customers to ensure where extreme cases exist, we are able to respond appropriately and minimise any detriment to these customers. In line with this, we have also developed strong relationships with debt advice agencies and work closely with charities and other third parties who act on customers' behalf.