Deferral Guide

Andres Romero - HCA Collections KM2

GUIDE

DEFERRALS

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2. Account must be a retail account

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1. The customer must make the request. Only Primary, Cobuyer or POA can request a deferral

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• 1 Month Deferral will reduce 30 days delinquency

• 2 Months Deferral will reduce 60 days delinquency

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

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*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

5. No active Promise to Pay (PTP) on account. The PTP will need to fall off before the Payment Deferral can be set up

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

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11. No more than 2 months may be deferred in any 12-month period

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

10. At least 12 payments must have been paid since the last 2-month deferral

9. At least 6 payments must have been paid since the last 1-month deferral

7. Total deferrals must not exceed 6 months over the term of the account. Includes any deferrals made due to a declared disaster

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For good pratices, we should use the RPC template and the deferral template to complete the account notes. Fill all the applicable info.

CRM NOTES

We can find a deferral notes template on CRM notepad. Select "Extension Request" on the Note Template dropdown menu.

DEFERRAL NOTES TEMPLATE

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1. Months deferred:12/12/202301/12/20242. Next payment due date:02/12/20243. Autopay? No

3. Is there an active Autopay?.

2. Next Due Date when payment should be received.

1. Dates, no number of months.

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7. Timeframe to complete the process. 14 Calendar days

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

6. We dont't request out of policy deferrals unless theres an alert

5. Email confirmation

4. Delivery documentation

"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"

RECAP THE DEFERRAL AND SET NOTES

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Andres Romero - HCA Collections KM2

Educate the customer they live in a fee state and the amount of the fee

fee state

Only if Signature Required box is check

signature required

If final approval position is UL/Director If credit score is lower than A

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

DEFERRAL DISCLOSURE

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Educate the customer they live in a fee state and the amount of the fee

fee state

Only if Signature Required box is check

signature required

If final approval position is UL/Director If credit score is lower than A

additional approval

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Andres Romero - HCA Collections KM2

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Andres Romero - HCA Collections KM2

Feedback will be always appreciated

do you have any questions?

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