Lending Solutions Inc. announced that it has added nine new credit union clients in the past few months.
The new clients have signed on for Lending Solutions' collections outsourcing services. The service aims to reduce the administrative burden of serving collections accounts and to improve delinquency rates and end the borrower's delinquency patterns. Credit unions are able to outsource their whole collections department or just a portion of the delinquencies to Lending Solutions.
"Many of our clients use Lending Solutions strictly to reduce delinquency rates," said John Dowling, client development manager at Lending Solutions. "However, more and more clients are coming to us because of staffing issues and other problems. By using our services, credit unions can reduce their delinquencies and alleviate concerns related to staffing."
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Lending Solutions has been providing 24-hour lending and member service to credit unions, banks and mortgage companies since 1994.
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