2023-03-27 Non-performing Loanbook in United States

Loan book of the bank, credit union or any other lender will after 180 days turn to non-performing loan portoflios. There is a lot of liquidity in that portoflio, it needs to justify a combination of potential approaches.

OMNI channels - soft approach

Call&Collect - trying to sell the settlement or make consumer motivated to pay

Pre-litigation - consumer needs to understand he/she has 30 days to react or he/she will be litigated

Litigation - official record and litigation itself. Never really nice, as balance goes up, lawyers are included in the talks, public records are updated, Credit score might be hit

Post-Litigation - Levy, Wage garnishment, Property sale, Lien on Assets, extension of Statue of Limitations

Financial Forensics - Deep skip of the account, hit on national and international assets, family assets research, Judge orders, Money tracking 

It is not worth for many consumers to walk all the way. Protecting of the deposits held by a bank is critical. Compliance and respect to consumers is a key.