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Deferral Guide
Andrés Romero
Created on January 15, 2024
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DEFERRALS
Qualifications
GUIDE
Notes
Disclosures
Questions
Andres Romero - HCA Collections KM2
Qualifications
1. The customer must make the request. Only Primary, Cobuyer or POA can request a deferral
2. Account must be a retail account
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Qualifications
3. If the account is past due, payment deferral must bring the account current
4. The customer cannot request a deferral for the final due date on the retail installment sales contract
- 1 Month Deferral will reduce 30 days delinquency
- 2 Months Deferral will reduce 60 days delinquency
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Qualifications
6. The customer must have had a temporary loss of income or other financial hardship which has been resolved or will be resolved in the near future
5. No active Promise to Pay (PTP) on account. The PTP will need to fall off before the Payment Deferral can be set up
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Qualifications
*If the customer has a Promise date set for 7/10/23, customer would follow up via web/phone on 7/12/23 to request the deferral
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Qualifications
8. At least 6 full installments must have been paid on the account. One or Two month deferral request can be submitted if the account qualifies
7. Total deferrals must not exceed 6 months over the term of the account. Includes any deferrals made due to a declared disaster
10. At least 12 payments must have been paid since the last 2-month deferral
11. No more than 2 months may be deferred in any 12-month period
9. At least 6 payments must have been paid since the last 1-month deferral
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DEFERRAL NOTES TEMPLATE
Qualifications
We can find a deferral notes template on CRM notepad. Select "Extension Request" on the Note Template dropdown menu.
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CRM NOTES
For good pratices, we should use the RPC template and the deferral template to complete the account notes. Fill all the applicable info.
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1. Dates, no number of months.
1. Months deferred:12/12/202301/12/20242. Next payment due date:02/12/20243. Autopay? No
Qualifications
2. Next Due Date when payment should be received.
Notes
3. Is there an active Autopay?.
Disclosures
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4. Delivery Method:Email: me@email.comMAIL 1125 BLUE ST...5. Confirm Email:Yes, No6. Reason for out of policy request N/A7. Expiration Date:01/16/2024
4. Delivery documentation
5. Email confirmation
6. We dont't request out of policy deferrals unless theres an alert
7. Timeframe to complete the process. 14 Calendar days
RECAP THE DEFERRAL AND SET NOTES
"So just to recap, you are going to deferral the month of ...., that means next due date will be on ...." "Remember you are going to receive the documentation in the following 3 business days""Allow us up to 3 buisness days after you sign it to process the request""Te password is going to be the last 4 of your social" "Remember that you need to disable the autopay"
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Disclosures
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DEFERRAL DISCLOSURE
additional approval
Mr./Ms. Customer, please save all questions until the disclosure recording is done. After that, I'll be happy to answer any questions at that time
If final approval position is UL/Director If credit score is lower than A
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signature required
fee state
Educate the customer they live in a fee state and the amount of the fee
Only if Signature Required box is check
Andres Romero - HCA Collections KM2
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Qualifications
signature required
fee state
Notes
Educate the customer they live in a fee state and the amount of the fee
Only if Signature Required box is check
Disclosures
Questions
additional approval
If final approval position is UL/Director If credit score is lower than A
HOME
Qualifications
Notes
Disclosures
Questions
HOME
Qualifications
Notes
Disclosures
Questions
HOME
Qualifications
Notes
Disclosures
Questions
Andres Romero - HCA Collections KM2
HOME
Qualifications
Notes
Disclosures
Questions
HOME
Qualifications
Notes
Disclosures
Questions
HOME
Qualifications
Notes
Disclosures
Questions
Andres Romero - HCA Collections KM2
do you have any questions?
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Qualifications
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