Maintaining a healthy cash flow is one of the biggest challenges for lending organizations. Delinquent accounts and late payments can cast a severe impact on the financial health of an organization. However, organizations can restore accounts and get them back to performing with the assistance of the right solution. One such ideal solution is the Collect to Cure program of ACS, which lets organizations restore accounts quickly and efficiently and ensure financial stability. This article explores in detail the Collect to Cure Program of ACS.
What is ACS
Asset Compliant Solutions (ACS) is an accounts recovery agency that offers state-of-the-art services to help organizations restore accounts and ensure financial stability. With its highly-skilled team of specialists, 20+ years of experience, proven track record of success (with a 90% success rate), and over 2000 field agents in the U.S., ACS is offering the best assistance to asset managers to mitigate delinquency rates and optimize the performance of the portfolio. Overall, the goal of ACS is to provide comprehensive accounts recovery solutions to streamline cash flow and ensure financial stability.
What is ACS Collect to Cure Program
Collect to Cure program is ACS’s intelligent and demanding program that not just lets the organization protect its relationship with customers, but also implements all the measures to preserve the accounts and bring them back on track.
ACS initiates the Collect to Cure program before moving a non-performing account to recovery. The program’s main target is to develop a resolution that satisfies the debt and shifts the status of the account from non-performing to performing. Below are some key attributes of the Collect to Cure program:
- Fast: This program restores accounts and brings them back on track in minimal time.
- Transparent: The ACS highly-skilled team manages all the communications with the organization’s customers while keeping the organization informed with 24/7 online access to updates.
- Cost-Effective: ACS provides instant access to experienced and skilled cure specialists to minimize losses and restore accounts efficiently.
- Compliant: ACS program is fully licensed and bonded in all 50 states.
Overall, the Collect to Cure program of ACS focuses on resolving the balances to reduce or wipe out portfolio losses.
Steps of Collect to Cure Program
ACS has set up a comprehensive Collect to Cure program with the main target of finding all the possible ways to restore accounts. Below are the main steps involved in the Collect to Cure program:
- The ACS team gathers the basic information of all the non-performing accounts.
- The team initiates internal collection with the client’s team. If the collection is successful, the process ends right away.
- If the internal collection fails, ACS initiates the Asset Recovery Program, where the team locates the asset and then either secures the asset or cures the account by taking payment.
- In case of recovery of assets, they are transported for auction through the ACS network of field agents. Afterward, assets are liquidated/remarketed, and accounts are adjusted accordingly.
This way, ACS manages to cure most of the non-performing accounts and restore them to performing ones. To sum up, ACS is the ideal one-stop accounts recovery service organizations can trust to restore accounts through a professionalized and streamlined process.