Newsletter

Welcome

The LOANLEDGER LOAN SERVICING NEWSLETTER is a free monthly service provided by Dynamic Interface Systems Corporation (DISC), the world's leading supplier of loan servicing software for microcomputers. Since 1982, DISC has provided loan software, collection software and other sophisticated yet affordable products for lenders and financial institutions. Nearly half of the Fortune 100 Companies use LOANLEDGER.

To find out how LOANLEDGER Loan Servicing Software can greatly enhance all of your collection activities, please call (310) 568-4567.

DID YOU KNOW?

Question: We have modified a customer's agreement, do we need to close out the loan and setup a new one?

Answer: There is no need to setup a new loan; you can change the information on the account to show the modified terms. Choose Add/Change a Customer, and then Change an Existing Loan. You can change items, such as Number of Payments (total), Next Due Date, Maturity Date, Payment Amount, etc. If you have adjusted the balance, you will need to do the adjustment thru Cash Adjustments. Also document the changes on the account, by putting a note on file.

READ FASTER AND COLLECT MORE DOLLARS

The Collector must scan data before phoning the debtor. As the Collector's "golden hours" are when on the phone with debtors, it is vital to minimize file-scanning time, yet do a complete scan. Here is a way to triple reading speed, and not lose comprehension. Perform a simple exercise five minutes per evening, for 20 consecutive evenings. Then, motivated by your own success, teach your Collectors to do the same thing.

Obtain a magazine. Begin reading at your normal reading speed. Then, force yourself to read faster. Force yourself to a faster reading speed until you can't understand what you are reading. Maintain that speed. In two or three evenings, your comprehension will return... at that higher speed.

When your comprehension returns, again force speedier reading. Again increase speed until that comprehension disappears. Again maintain that speed, until in two or three evenings... your comprehension will again return.

Keep doing this. In twenty evenings, you'll have tripled (or more) your reading speed. No cop-out reading, either. You'll be looking at all the words.

People limit reading speed by thinking the sounds of the words. When you speed beyond sound- thinking speed, you'll have made a discovery: You never did need to think the sounds of the words. The eye is a camera. All you had to do all the time was to see the words.

The key: Resist the temptation to quit when you lose comprehension. It will return.

Speedier file-scanning assures more time for those golden hours (on the phone with the debtor). More golden hours assure more dollars collected... without working harder or longer. And you have the time for this. And you can't beat the price.

Questions / Comments

If you have questions, comments, or would like to submit an appropriate tip to the LOANLEDGER LOAN SERVICING NEWSLETTER, write to newsletter@loanledger.com