Most consumer complaints stem from a lack of transparency after a debt sale has closed. EverChain provides end-to-end visibility to help creditors maintain control of sold accounts.
Expect only what you inspect. Most consumer complaints stem from a lack of transparency after the sale has closed.
We created a highly monitored and controlled environment to ensure complete oversight and accountability post-sale. Our dedicated compliance team helps ensure a thorough investigation and remediation process to resolve all consumer and regulatory concerns.
Complaint Tracking and Resolution
By tracking all complaints through our secure platform, by both buyer and agency, we can provide issuers with a level of transparency unseen elsewhere in the industry. The EverChain Account Complaint Ratio (ACR) provides a snapshot of the number of substantiated complaints a buyer has caused per 5,000 network purchased accounts. When a buyer places a bid on a portfolio, the seller reviews the Buyer’s ACR to help determine the most compliant sale. EverChain’s buyer complaint threshold is <1 in 5000 accounts. Should a buyer approach that number, remediation and counseling are provided. If ongoing complaint issues cannot be resolved via those methods, network suspension or expulsion may follow. The ACR is dynamically updated and always available, allowing issuers to quickly check and continuously monitor the performance of any buyer who previously purchased a portfolio from them.
With this level of oversight, buyers and agencies tend to service EverChain-acquired portfolios with greater care than those purchased elsewhere. The net result is a better post-default customer experience. In fact, our buyers have the lowest complaint ratio in the industry, less than one substantiated complaint per 32,000 accounts sold.
What’s more, the EverChain platform enables buyers to securely transmit information regarding the complaint through the platform. The complaint portal eliminates the need for e-mails that would contain PII to be transmitted between sellers, buyers and agencies.
Lastly, leverage – EverChain is not just one seller working with one buyer in a direct relationship. EverChain is watching trends across multiple seller and buyer relationships to proactively mitigate any potential issues.