PAR offers nationwide recovery management services (repossession forwarding) through relationships with more than 650 independent recovery vendors. PAR’s clients range from the largest banks, captives and auto finance companies to the smallest credit unions. PAR services all types of repossession assignments including involuntary, voluntary, impound and skip. Our focus is to achieve the highest possible recovery rate and to recover client assets in the shortest amount of time. PAR is well equipped to handle all recovery management needs.
PAR technology allows for fast, efficient placement of assignments and our secure, proprietary VIPR/eVIPR system is fully integrated with the industry’s largest third‐party technology platforms including iRepo/RC and RDN. This allows our clients to receive fast, real‐time updates, hold/close notifications, repossession reports, condition reports and other associated documents. Accounts are also assigned out with an LPR provider simultaneous with conventional recovery efforts, providing for maximum recovery opportunity.
Recovery Operations Team
PAR’s clients benefit from dedicated operations service teams who have expertise in their individual piece of the recovery process. The operations teams include Assignments, Queues (client communications), Impounds, Repossession, Post-Repossession, and Releases. Each team completes a set of tasks throughout the lifecycle of a repossession including assigning accounts to individual recovery vendors, processing client requests, holds and closes, reporting repossessions, handling impounded units, and processing redemption/reinstatement releases. These teams are comprised of a Senior Account Manager that acts as the point of contact along with several employees who handle the daily operations.
Client Relations and Analysis Team
The PAR Client Relations team handles all escalated client requests, onboarding and training of PAR clients. PAR clients have a single point of contact for any issues, concerns or questions they may have. Monthly reviews with clients to present performance and compliance data for all services gives an open forum for discussion. Performance and compliance data is created by the PAR Analysis team which develops reporting, scorecards and analytical presentations for clients. This group can develop and schedule any requested ad hoc reporting.
Vendor Relations Team
Our Vendor Relations team oversees the activity of our vast recovery vendor network. This team is focused on building relationships with recovery vendors and improving performance. Vendor Relations is responsible for making sure that updates, reports of repossession and condition reports are provided by our vendor network in a timely fashion. Our Vendor Relations team is overseen by the Vendor Relations Manager, and a team of regional managers who are responsible for oversight of a specific group of recovery vendors in a defined geographic area.
The Resolutions team monitors and tracks all consumer complaints. This team receives customer complaints, logs the complaint, gathers all required evidence and statements of fact from both parties and delivers timely resolutions to customers. This team also sends scheduled complaint notifications or logs to the client if requested.