Asset-based lending and lease finance companies are a valuable funding source for businesses that struggle to qualify for traditional loans or don’t possess the cash flow to make large purchases. However, it sometimes becomes challenging for lenders to deal with troubled loans and lease accounts, even urging the need to initiate the recovery process. Since managing and recovering assets from clients is a challenging task, this is where ACS comes into action.
Asset Compliant Solutions (ACS) is an asset recovery services provider that offers top-notch collections and recovery performance for everything from office furniture to construction equipment. With the human-first approach, a team of experienced professionals, and over 2,000 field agents, ACS helps lenders improve financial performance, mitigate risk, and recover assets seamlessly.
ACS Services
With over 20 years of experience and a 90% success rate, ACS offers a solution for every industry. Below is a glimpse of its superior collection and recovery services:
Collection to Cure
Before going for recovery, ACS offers the “Collection to Cure” service, where the company utilizes its suite of upstream solutions to identify and resolve trouble points in lender portfolios.
With its proven approach utilizing ACS systems, talent, technology, and the large field network, the company tries to find solutions for troubled lease and loan accounts before considering repossession. Since different clients have different scenarios, ACS sets up custom-built solutions for every client.
Route to Recovery
The years of exceptional services and the highest success rate have made ACS one of the best asset recovery companies. Its “Route to Recovery” service is the last stage service when the only choice left is to recover assets from clients. ACS makes this recovery process a seamless experience for lenders and customers.
ACS professionals hold the market know-how, skills, and connections to find, track, recover, store, and ship lender assets across the United States. Moreover, ACS has invested a lot in proprietary technology that continuously provides clients with real-time access to asset status during the whole recovery process.
Asset Recovery Process: Steps Followed by ACS to Recover Non-Performing Accounts
Below are the steps ACS undergoes to evaluate and recover assets from non-performing accounts:
- ACS team receives the details of non-performing accounts.
- The internal collection process begins where ACS professionals initiate collections internally with your team. If internal collection is successful, the process is ended right away.
- ACS initiates the “Collection Cure Program” to find solutions for troubled lease and loan accounts before considering repossession. If the issues are resolved, the process is ended right away.
- If the Collection Cure program fails, ACS begins the “Asset Recovery Program”. It involves locating the asset and then either securing the asset or taking payment to cure the account. After securing the asset, it is transported for auction through ACS fully insured agent network. Lastly, the asset is remarketed/liquidated.
In short, ACS offers the most comprehensive and advanced asset recovery service lenders need to cure their troubling accounts and seamlessly recover assets from non-performing accounts.