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Debt Buyer

Tips for Compliant Debt Buying from EverChain

Tips for Compliantly Buying Debt

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?

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EverChain reduces consumer complaints by 90% for national lender

EverChain Reduces Consumer Complaints by 90% for National Lender

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.

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