Our family of common owned companies consists of CU Revest, Credit Solutions Corporation, which has managed over 3 billion dollars in consumer debt since 1997 and DPM our licensed captive finance company dedicated to helping prior prime credit union members rehabilitate their credit. In 2012 our founders made the strategic decision to dedicate their expertise, technology and resources exclusively to credit unions.
Delinquency and charge offs are a normal by-product of credit union lending. CU Revest is not a collection agency. We are an innovative, strategic resource that can be bolted on to the end of the consumer credit process after your collection agencies have stopped being effective. Charge off accounts that haven’t made a payment within the last 180 days should be assigned to CU Revest. Why? The consumer recovery life cycle illustrates that the prime collection opportunity occurs when a former credit union member is in the process of rebuilding his or her life and reestablishing his or her credit. This may not happen until several years have passed since the negative credit events that originally caused the downward credit spiral and resulting charge off.
Generally, the prime rehabilitation and collection opportunities come from three to six years after a negative life event such as divorce, medical emergency or prolonged unemployment. Ironically, at this very time when consumers can be motivated to repay their obligation in full in order to rehabilitate their creditworthiness, law firms and collection agencies have long abandoned the accounts; your credit union’s money is stranded. This is where we go to work. Post agency capital and member recovery is the focus of CU Revest.
CU Revest is your key to fiscal responsibility and membership growth. We help you restore capital, recover members and reduce risk.