Early Stage Arrears -

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Understanding Early Stage Arrears

Managing arrears at an early stage often produces the best outcome for both lenders and customers. Early intervention can prevent arrears from escalating and reduce the likelihood of statutory default notices being issued.

Equivo’s approach ensures customers are supported and heard. By identifying changes in customer circumstances and vulnerabilities, we help lenders manage arrears in line with FCA Consumer Duty obligations. This enables fair and sustainable repayment arrangements while safeguarding the lender’s interests.

How Early Stage Arrears Can Be Managed

Multi Channel Engagement

Our multi-channel engagement strategies include phone, email, SMS, mail, web chat and digital customer portals. This flexibility allows us to reach customers and gather information on their circumstances. Engagement is tailored to each individual, ensuring empathy and compliance .

Field Services

Our nationwide field service provide support to early stage arrears strategies when traditional contact methods fail. With the focus being to facilitate resolutions, our field personnel engage with customers to resolve arrears through affordable payment plans or even asset surrender, while always ensuring compliance, safety and respect.

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Escalation Avoidance

By addressing arrears early, we can prevent accounts from escalating to statutory default notices or legal action. This benefits both parties, reduces impairment and supports long-term customer rehabilitation.

How Equivo Can Help

With our expertise and award-winning service, Equivo ensures early stage arrears are managed efficiently, ethically, and in full compliance. We act quickly to identify the best outcomes for both lenders and customers.

Proactive Customer Support

Our team works closely with customers to understand their circumstances and provide tailored support. We aim to resolve arrears sustainably and reduce the need for further escalation.

Ethical, Compliant Processes

Equivo is FCA authorised. Compliance and regulatory obligations are embedded into every stage of our work. Our ethical approach ensures each case is handled with fairness and sensitivity.

Data Insight and Analytics

We enrich and update key customer information, including contact details, employment, and affordability. This allows lenders to make informed decisions and improve future engagement.

Step by Step Process

1.

Account Assessment

We review arrears accounts to understand payment history, outstanding balances, and potential vulnerabilities.

2.

Customer Engagement

Using multi-channel outreach strategies, we connect with customers to discuss their situation and explore suitable repayment options.

3.

Resolution Plan

We propose and implement repayment arrangements that are sustainable and fair, aiming to avoid default or further escalation.

4.

Monitoring and Reporting

Ongoing tracking of agreements ensures compliance and allows quick intervention if circumstances change. Clients receive clear updates throughout.

What This Means for You

Stronger engagement with customers in early arrears

High rates of repayment and rehabilitation of accounts

Fewer statutory default notices issued

Sustainable resolutions that protect all stakeholders

Full alignment with FCA Consumer Duty obligations

Why Choose Equivo

With proven expertise and a successful portfolio across cases nationwide, you can be confident that Equivo provides rapid resolution combined with ethical engagement from start to finish. As an FCA-authorised, award-winning firm, we go beyond regulatory standards, tailoring our approach to each case to achieve fair outcomes for both clients and customers.

95%

Early contact achieved

91%

Resolved without escalation

100%

FCA compliant

93%

Rehabilitation success

Client Questions

Why is it important to address arrears at an early stage?

Early intervention prevents arrears from escalating, reduces impairment, and increases the chance of sustainable repayment. Equivo’s approach engages customers fairly while safeguarding the lender’s financial and reputational interests.

What measures are taken to protect both the customer and the lender?

Equivo identifies changes in customer circumstances and potential vulnerabilities, tailoring engagement to ensure repayment solutions are sustainable. This balances ethical treatment of the customer with protection of the lender’s interests.

What kind of insight will I receive on early arrears accounts?

Clients receive clear, actionable updates including repayment plans agreed, account status, and recommendations for next steps. This allows lenders to make informed decisions and monitor risk effectively.

In what ways can early stage arrears management prevent escalation?

Prompt engagement and tailored repayment solutions reduce the likelihood of statutory default notices or court action. Early intervention supports account rehabilitation and helps maintain long-term customer relationships.

How does Equivo ensure compliance and ethical engagement?

Equivo is an award winning FCA authorised company, embedding compliance and regulatory obligations at every stage. Customers are treated fairly, with vulnerable individuals identified and supported appropriately.