Collections Treatment Strategy and Plan Sample Clauses

Collections Treatment Strategy and Plan. The timing and intensity of collections activity is determined by the delinquency stage, risk exposure, and the customers’ ability and willingness to fulfill the agreed upon course of action. A combination of relationship building, customer service, and assertive collection skills are critical in an effective collector. The collections process will generally escalate from customer service (how can we help?) towards a front-line collections (when can we expect payment?) approach as the customer’s delinquency and risk of default increases. All past due lease accounts are evaluated on their payment due date and assigned a specific collection strategy which includes payment notices, emails and telephone follow- up calls as part of the delinquency lifecycle activity stream. i. Initial Delinquency/Customer Service Call Unless the situation requires it, the [***] an account would be worked is [***]. At this point, Tesla’s customer service team will perform courtesy calls and emails to ensure billing related questions (the most common reason for early stage delinquency) are resolved. ii. Formal Daily Collection Activity Once account becomes [***], Tesla will turn over formal collections activity to our servicer’s Loss Mitigation Team. The team is composed of representatives assigned the responsibility of handling outbound and inbound calls. Representatives handling outbound calls review collection lists and place calls to delinquent accounts. Representatives should attempt to address customer delinquency on a one-call resolution basis. The Work List sequences accounts for follow-up by the associate based upon the review date and payment due date. This list displays the first ‘available’ account on the collection list and requires the associate to work the account before moving on to the next account requiring collection activity. An ’available’ account is one that: • Is scheduled to be worked that day • Is not being worked by another associate • Has not been worked that day Once an account has been worked, the representative must assign a specific activity code describing the collection effort, and leave detailed notes of the collection activity in the customer’s account. Tesla’s customer service team has viewing access to account notes and is prepared to pick up where the servicer’s team left off should the customer contact a Tesla representative regarding payment.