Collections: Targeted Intervention
May 8, 2020
Prepare for Targeted Interventions as COVID-19 Restrictions are Lifted
Restrictions across the U.S. will be lifted based on state level risk assessments. Borrowers will be impacted differently depending on regional, industry and varying work classifications (essential versus non-essential). Payment relief strategies and targeted intervention that consider these differences and are suitable for a slower, staggered recovery will best address the severity and duration of financial hardship to customers.
Believe it or not, you have the tools in-house to identify how to right-fit your treatments and targeted intervention based on borrower impact levels.
Our infographic provides a breakdown of the segments to assess as you plan for a staggered recovery. You will also find suggestions for communicating options with the customer proactively. These proactive offers will encourage the right customers to get in touch with you.
Bridgeforce can help you create the strategies you need to ensure that you correctly assess and segment your customers as you meet the challenges of COVID-19. Contact us today.