Consumer Finance

CCS designed the Consumer Finance system with close cooperation from industry leaders, carefully tailoring it to the unique needs of the finance industry. Organizations large and small will find that it is a cost-effective investment that can increase volume without increasing staff or processing costs.

By combining loan origination, payment processing, revolving charge, and more, with flexible reporting and real-time processing, it gives managers a powerful tool for evaluating dealers and portfolios, developing prospect lists, and assessing productivity.

And since it's available on a range of compatible and expandable HP Enterprise Servers, your Consumer Finance system will remain effective and efficient as your company grows, putting information—the foundation of your business—at your fingertips.

General Features

• Table-driven program configuration
• Multiple companies and states

New Account Setup

• Discounting of new loan amounts, including dealer participation, holdbacks, discounts, minimum charges, and credit insurance
• Automatic credit insurance assignment, calculation of premiums, commissions, and dealer service fee
• Creation of payment books and welcome letters
• Printing of insurance policies, dealer vouchers, loan papers, and checks

General Ledger

• Fully-integrated financial control
• Daily Monetary Control Summary report
• Daily General Ledger Posting report

Payment Processing

• ACH processing for online collection
• Online payment entry, optional batch balancing
• Application of current and/or back-dated payments
• Flexible payment cycles, payment source tracking, partial payment processing
• Reversal processing, including NSF tracking and charging
• Deferments, daily cash drawer, and checkbook balancing

Collector Follow-Up

• Daily Collector Advice listing, highlights exceptions, problem account activity
• Flexible past due notice options, automatic wage assignment tracking, automatic conversion of delinquent accounts to simple interest
• Automatic late payment notices

Bad Debt Processing

• Judgment processing, bankruptcy processing, write off processing, repossession processing
• Bad debt recovery processing

Dealer Processing

• Handling of up to five reserve fields

Automatic Solicitations

• Paid and active account solicitations

On-demand Inquiries

• Customer inquiry by number, name, or social security number
• Customer profile, highlights all active and closed accounts as well as co-maker or guarantor liability
• Account inquiry: loan data, past due data, collection status, mailing history
• Dealer inquiry, including current outstanding amounts
• Complete history report
• Payoff capability, including 90 days same as cash

Credit Bureau Reporting

• Monthly file transmittals
• On-demand reports
• Custom credit bureau reporting

Pre-Loan Features

• Entry of loan application data
• Automatic credit bureau interface
• Ability to transfer quotations to accepted loans

Insurance Processing

• Multiple insurance types: PDI, Credit Life, A&H, Involuntary Unemployment, and others
• Automatic issuance and premium cancellation, including multiple policies per type when coverage limit exceeded
• Ability to vary rebate method based on carrier, type, and cancellation/payoff reason
• Extensive follow-up for expiring, cancelled, and customer-provided PDI as well as Loss Payee tracking
• Monthly premiums payable report, summarizes all activity by carrier/agency and insurance type

Automatic Late Charging

• Variable calculation methods based on portfolio
• Ability to avoid "pyramiding" of late charges

Revolving Loans

• Add-on processing
• Monthly billing with multiple cycles
• Dispute capability, credit insurance capabilities
• Optional interest and insurance calculations
• User-selectable repayment options

Extensive Management Reporting

• Portfolio analysis, Collector analysis, Dealer analysis
• New Loan Volume Analysis by customer source
• Cash Liquidation Analysis by source of payment