This strategy is used for Personal loan for majority of customers on First Installment, risky customers , Customers who are not contactable via phone, Customers who often break their set promises, Customers who challenges us that they will not pay(Hostile) and Customers who has loan amount of 10k or greater.
The main goals of such tools is to act as a deterrent for future default of the customer and encourage account normalization and recovery (on late cases)
Due to cost of servicing there will be entry parameters that needs to be in placed prior to using such collections tool. There will be entry and exit parameters to be used.
A.Field Assignment parameters;
Mandatory
Current loan balance is at least 10k or above.
There is a field unit servicing the area.
2. Secondary
The client has made at least 3 broken promises in the last 30days.
First payment past due
No payment received from the customer in the last cycle.
Account has a special tagging in Loxon and is delinquent.
Potential Fraud
Client denies the loan
*1 out of 4 item will assign an account for field handling
B.Field Exit parameters.
Account has been made current.
Account has lapsed its assignment period of 30 days.
After an assignment period of 30days account shall be reviewed for reassignment.
if paid but not cured
if PTP is present.
*Reassignment shall not exceed 30days
Account has been selected for Special handling (External agency/Litigation)
DPD | Action | Notes |
---|---|---|
10-90 | Field Assignment | Only accounts who are fulfilling the mandatory and secondary parameters shall be sent for field assignment. |
Flow
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