The newly formed EverChain UK will leverage EverChain’s decade of experience and proprietary recovery management solution to bring compliant debt sales to the UK

We sat down with EverChain's AVP of Business Development, Nicholas (Nick) Wheeler, who joined our team about a month ago. We wanted to understand the "Why" behind his choice to join EverChain and hear what he loves about the team after his first month on the job.

We are pleased to announce that EverChain has once again met the requirements and earned the designation of an RMAI Certified Receivables Vendor (CRV). As a designated CRV, our organization will continue to uphold the policies and procedures outlined in the Receivables Management Certification Program Governance Documents. EverChain was the first RMAi Certified Broker when the designation was created in March of 2017. 

Similar to RMAI’s “Certified Receivables Business” (CRB) designation for debt buying companies, law firms, collection agencies, and creditors, the CRV designation was designed to exceed the requirements of state and federal law. EverChain is thrilled to continue to voluntarily surpass industry requirements, setting a new bar for quality and compliance in the debt industry. 

Here’s another opportunity to join in the awesome charitable work that is such a cornerstone to many of our industry’s businesses and professionals! Receivables Roundtable Founder, Adam Parks talks with Nancy Hughes of Connect1, LLC and Brooke Teal of EverChain about their ten-week fundraising campaigns for the Leukemia & Lymphoma Society. Man & Woman of the Year is a philanthropic competition to support blood cancer research in the United States. Our industry boasts not just one, but two candidates this Spring! For you West Coasters, Nancy Hughes is running her campaign in San Diego, CA. For the East Coast crowd, Brooke Teal’s campaign is based in Atlanta, GA.

Learn more and join a team (or both!) at mwoy.org. If your company makes a donation, be sure to let us know! Learn more using the links below.

Brooke Teal - https://www.linkedin.com/in/brooke-teal/

EverChain - https://www.linkedin.com/company/everchaincorp

This was originally posted by Receivables Info with Adam Parks on March 14, 2022. Check out the links below to learn more.

Watch the video HERE.

This article was published in Cornerstone's newsletter on April 19.

Table of Contents
5 TIPS FOR MITIGATING RISK WHEN BUYING DEBT
1. Strategy
2. Segment
3. Security
4. Due Diligence
5. Post-Sale
5 OBSTACLES THAT PREVENT CREDITORS FROM SELLING DEBT
1. Perception of Risk:
2. Lack of Resources:
3. Lack of Due Diligence:
4. Lack of Transparency:
5. Lack of Benchmarking Data:
5 REASONS WHY CREDITORS SHOULD SELL DEBT: THE PROS
1. Why Sell Debt?
2. Why Use a Broker?
3. Why Oversight and Compliance?
4. Why Technology?
5. Why Now?

When lenders decide to sell their debt, they have options. Many choose to use a broker because they don't want to invest in the staff and the technology it would take to compliantly sell debt directly to a buyer. Sure, you could hire the staff, train them, and implement the technology – but that's a big lift. Because it's not just the technology expense upfront, but it's an ongoing expense to ensure that your technology doesn't just meet the needs of today's regulatory environment, but tomorrow's as well. You pay a broker a fee to cover the transaction, but it does not include compliance oversight – that still lies with you as the original creditor. 

We sat down with EverChain's AVP of Business Development, Mike Walsh, who joined our team about a month ago. We wanted to understand the "Why" behind his choice to join EverChain and get his initial impressions from Month One.

A major consumer lender who had historically sold nonperforming loans (NPLs) directly to an individual buyer was experiencing a high volume of consumer complaints on their sold accounts. The lender wanted to determine if selling their accounts via EverChain's Certified Network would decrease the volume of complaints, due to the extensive vetting and compliance oversight of its members.

Take a break with Brooke! You’ll hear about everything from puppies to court litigation in this episode as Receivables Roundtable Founder, Adam Parks talks with Brooke Teal, Vice President of Business Development at EverChain, about how her creditors rights background as an attorney led to her current role. Hear about how she and the team give back to their communities and improve the debt cycle for consumers through increased compliance and account tracking.

You can view a recording of the episode and get all the details from Matthew and Daniel.

EverChain’s newest hire will round out the existing Business Development team, bringing nearly two decades of industry expertise

[Henderson, NV] February 7, 2022 – EverChain is pleased to announce the addition of Mike Walsh as AVP of Business Development. Mike is a seasoned sales and client services executive with nearly two decades of experience leading business development for companies in the Finance and Accounts Receivables Management (ARM) industries.