| Collections
Orion provides service at all phases of collections, from past due notices and routine reminder phone calls to workouts on the more serious delinquent accounts. Collection work-lists are generated daily to ensure accounts are regularly contacted until the account is brought current. As an account becomes more delinquent, collection efforts and techniques are adjusted accordingly and more senior collectors are utilized. Once an account becomes classified as non-performing, the collectors use a sophisticated collection tracking system known as Collection Management Accounting and Reporting System (CMARSTM). CMARSTM allows collectors to record comments and tracks follow up commitments by obligors.
Repossessions
Unfortunately there will be times when equipment will need to be repossessed from the obligor. Most often this is done on a voluntary basis and if necessary involuntarily repossessions are conducted. Orion contracts with reputable, licensed and bonded repossession companies to carry out this function.
Remarketing
Once the equipment is repossessed or returned, a condition report with pictures of the equipment is prepared. The equipment is evaluated, priced and a liquidation plan is determined. Equipment is then made ready for sale. Monthly reports are provided regarding equipment inventory and current status for each item.
Litigation and Bankruptcy
Orion provides its expertise and network of collection attorneys when litigation or bankruptcy work is required to enforce the terms of a contract. Orion maintains a tracking record of the various legal actions from summons, complaints, and motions for default or summary judgment, through attachments, replevins and various other orders.
Skip Tracing and Asset Discovery
Orion provides skip tracing and asset discovery services to further enhance the effectiveness of collection efforts.
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