Take Advantage of Blackout Period During This Tough Time!
One outstanding feature of the Collect-RM application is the configuration of Blackout period which can prevent correspondence to loan account holders during a crisis in a region. ‘Blackout Period’ or ‘Repayment Holidays’ are offered by Lenders during Hardships to pause repayments for an agreed period of time.
We believe we can help you through our Collection Management System. We are experts in the field and have scaled from Bushfire to Pandemic!
Useful Options When Making Blackout Decisions:
- Filter out the accounts in a pre-defined blackout zone (eg. country, state, postcode or period),
- Define a strategy to block/unblock sending out SMS/letter/emails automatically,
- Customise text template to send different messages for different Blackouts,
- Calculate potential financial damage based on the number of accounts and dollars in the region.
What we Follow:
We follow the three key frameworks that Australian Banking Association provide hardship assistance to their customers:
1. The National Credit Code (schedule to the National Consumer Credit Protection Act 2009)
2. The Code of Banking Practice
3. The Australian Government’s hardship principles.