MERCHANDISE RECOVERY PROCESS

1. • Is the merchandise in their possession? Merchandise must be in their possession.

     • • Ex: Furniture can’t be at ex-boyfriend’s house; motorbike can’t be at the shop.

• Is it in good working condition?

• Make customers aware if they are eligible for a return, they are still responsible for any past due balance on the account after the return of the merchandise. This needs to be made very clear.             

  • • Their lease WILL NOT BE CLOSED OUT if we do not receive the remaining balance

• The customer is responsible for shipping cost

• Tire Agent- If under 30 days and not mounted refer to TA

• Must verify if account is past the time frame of returning the item to the merchant – RETURN/CANCELLATION 

Past Due

• Any Balances due/owed at the time the customer will still be responsible for even after they have returned the merchandise, MR will determine how much that is

• For now, please bring any past due account requesting MR to Shaina, or your TL for review before sending to MR

• Document specifics- dates, amounts method- settlement offer or SPA offered, even if customer did not accept the offer

  • • • • When documenting use ***MR*** as the beginning of your internal note.

• Transfer call to Merchandise Recovery.

  • • • Why does the customer want to return?

      • What was discussed, offered? 

• Send an email to mr@uownleasing.com and provide phone # 786-224-0341 to the customer.

  • • • Subject line: {Account number – merchant name – customer name}

      • Body: explain the details of the situation

        • • Why does the customer want to return?

          • What was discussed, offered? 

          • Include latest contact information

• Agent needs to ensure that account not in past due status when customers requests to return the merchandise/item.

• It doesn’t mean that an account in current status would no longer pay. The MR calculator computes the day from the last payment until the day initiates the MR process.

• Why does the customer want to return?

• Remind the customer how much they have invested (Total Payment without Fees)

• Advise no refunds on what has been paid

• Offer the following solutions to avoid merchandise recovery:

  • • Due Date change

    • Frequency change

    • Account/payment education

    • Payment arrangement

    • Hardship arrangement

    • If within the 90-day time frame - offer settlement 90-day+RF

• If not, Settlement guidelines below upon review and approval from TL:

  • • • If they’ve been offered a settlement in docs – Settle between amount in docs and 90-day +RF

      • If not, Settle between EPO and 90-day +RF

• 2nd talk off is required if unable to avoid a recovery

  • • Transfer call to T2/TL