NORTH RICHLAND HILLS, Texas — VeriFacts Inc., a provider of skip trace solutions, and Triad Financial, a third-party servicer focusing on nonprime consumer vehicle loans, have partnered to offer a one-stop shop of services to auto lenders, collection agencies and investors.
In combination with VeriFacts Inc.’s POEExtreme package, the new menu includes: debtor and asset location, collections, bankruptcy management, insurance management, impound management, repossession and remarketing management, deficiency balance collections, ancillary product refunds, account litigation.
“Over the past year, our clients have requested a variety of related services beyond skip tracing. They asked, and we listened,” says Jodi Matteson, senior vice president at VeriFacts Inc. “I’m excited to partner with Triad – a trusted name in the industry – so clients can now enjoy a full menu of expert auto loan servicing. Each service will help reduce overhead expenses and maximize recoveries for lenders, collection agencies and investors who buy consumer vehicle loans.”
Scott France, Triad’s senior vice president of portfolio management, says, “Our partnership with VeriFacts Inc. is a natural fit. We each have a 20-year track record of positive performance, and we both offer nonprime expertise. Together we provide a complete solution, eliminating the expense of managing multiple vendors.”
Stephen Smith, Triad’s director of portfolio servicing, says VeriFacts, Inc.’s high-quality skip tracing data will give Triad a head-start in collections, repossession and remarketing. “Accurate information means we find more cars, find them faster, sell more cars, and make more money for the clients’ bottom line,” he says.
In addition to the two companies’ strong reputation, clients will benefit from:
• Tiered pricing on skip tracing: The easier they locate your collateral, the lower your fee.
• Detailed debtor information returned to you for later use: Whether or not they find your vehicle, you can receive debtor data uncovered in the process. As a result, you’ll have a foundation for future communication with borrowers.
• 10-day accuracy guarantee on debtor information
• Fast turnaround time
• Best-in-class success rates
• Efficient, effective processes
• State-of-the-art technology and software
• Daily, interactive reporting
• Customized contact strategies and advanced analytics for collecting on your accounts
• Frequent quality assurance monitoring
• Established network of repossession companies, auctions and attorneys across the country
• Comprehensive remarketing program: Through Trademark by Triad, clients enjoy live, on-site representation; higher dealer turnout; reconditioning and repair; favorable lane positions and run times; negotiated auction rates; and volume-based pricing.