Portfolio Services
Collections

Orion First Financial, LLC will provide all phases of collection efforts ranging from past due notices and routine reminder phone calls to the most serious past due account. Collectors identify themselves as a representative of the lessor to minimize confusion and benefit from the customers relationship with the lessor. Collection notes are maintained in LeaseWorks™ and a follow-up date is entered. 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.

Repossessions

Unfortunately there will be times that the leased equipment will be repossessed from the lessee. Most often this can be done on a voluntary basis and rarely is done involuntarily. The company 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 then evaluated, pricing is established and a liquidation plan is determined. Equipment is then made ready for sale. Monthly reports of equipment held for resale and its status are provided to the lessor.

Litigation and Bankruptcy

Orion First Financial, LLC will provide its expertise and network of collection attorneys when litigation or bankruptcy work is required to enforce the terms of a contract. Tracking the various legal actions from summons, complaints, and motions for default or summary judgment, through attachments, replevins and various other orders will be carried out..

Skip Tracing and Asset Discovery

Skip tracing and asset discovery services will be provided to further enhance the effectiveness of collection efforts.

 

© 2003 Orion First Financial, LLC