PAR offers nationwide recovery management services (repossession forwarding) through relationships with more than 600 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 Client Service Team:
PAR clients benefit from a dedicated client service team which quickly develops expertise in regard to specific client needs. The client service team is comprised of a Senior Account Manager that acts as the client point of contact along with several employees who handle the daily operations. The Senior Account Manager reports to a Client Operations Manager, who reports to the VP of Compliance and Operations. The client service team responds to client phone calls, emails, web requests, hold/close requests and reports repossessions. There are also logistical support teams, including an assignment team as well as impound management and specialty teams, whose sole focus is make sure that assignments, impound and specialty accounts are properly managed.
Our Vendor Relations team oversees the activity of our vast recovery vendor network. 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. This team is also responsible for new vendor onboarding and for monitoring recovery agent licensing, bonding and insurance compliance. This team also manages our site inspection program which includes a physical site inspection of each storage location on an annual basis. All recovery vendors within PAR’s network are required to be trained and certified through the RISC CARS program. These programs provide regulatory training and certification for applicable regulatory areas.
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.