Getting a loan or equipment leasing through asset-based lenders and lease finance companies is a preferred option for businesses that don’t get funding from traditional channels. However, lending this way means that lenders have to deal with troubled lease accounts. Sometimes, the situation demands lenders to recover the asset. To tackle these situations effectively, ACS (Asset Compliant Solutions) offers well-structured and professional asset recovery services to asset-based lenders and lease finance companies.
What is ACS (Asset Compliant Solutions)?
Asset Compliant Solutions (ACS) is a US-based asset recovery company that is fully compliant and licensed in 50 states. Reputed for its 2000+ field agents and 90% success rate, ACS has ensured better portfolio performance for many asset-based lenders and lease finance companies.
ACS helps lenders resolve the issues of troubled lease/loan accounts instead of initiating the recovery process. Even if recovery becomes mandatory, ACS offers a seamless way to recover assets with its technology and vast field agents. In short, ACS is the ideal companion for asset-based lenders to handle troubled accounts.
Two Key Services of ACS
Over the past years, ACS has partnered with many of the US’s largest and most respected lenders to offer collection and recovery services for everything from office furniture to construction equipment. Below is a quick overview of two key services of ACS:
- Collect to Cure
Not every troubled account means recovering assets. In addition, recovering assets also involves the factors of time, expense, and risk. That’s why the ACS Collect to Cure service is meant to sort things out with troubled accounts before initiating recovery.
In this service, ACS utilizes its technology, systems, in-house team, and vast field network to find solutions for troubled accounts. The expert team interacts with customers to find the ideal solution that works both for the lender and the customers. Moreover, the team keeps all the conversations transparent and accessible to lenders.
- Route to Recovery
The ACS Route to Recovery triggers when recovering assets become mandatory. It is a suite of late-stage loan resolution services that are meant to recover assets and offer lenders and customers a satisfactory experience. In this service, ACS utilizes its internal and external professionals and resources to locate, track, recover, store, and transport assets anywhere across the US.
The main steps involved in this service include:
- The internal recovery team of specialists collects and filters accounts for recovery.
- The field agent team develops the recovery strategies using the insights provided by the internal recovery team.
- Skip tracers inspect and validate the information to locate and secure assets.
- Assets are recovered, transported, and liquidated.
On top of that, ACS has invested a lot in proprietary technology to connect ACS specialists, field agents, and lenders for instant access to asset-related information. So, lenders always get real-time access to the status of their assets. This way, ACS offers lenders a streamlined and well-designed asset recovery program.
Wrapping Up
It is never easy for asset-based lenders and lease finance companies to handle troubling accounts. So, instead of hiring an additional workforce, ACS offers lenders a more seamless way to deal with such situations. With well-structured solutions for every loan lifecycle stage, ACS offers the systems, technology, and talent lenders need to resolve troubling issues or recover assets.