In the world of subprime lending, especially within the Buy Here, Pay Here (BHPH) industry, collections can be a delicate process. The very nature of this business often involves working with customers who have faced financial hardships. But in every interaction, whether it's a payment reminder or a conversation about a past due payment, there's one principle that guides everything we do: respect.

Why Respect Matters in Subprime Collections

For many, financial difficulty is deeply personal. The customers who turn to BHPH dealers often have limited options, and for them, a vehicle isn’t just a luxury—it’s a lifeline. It’s how they get to work, take their children to school, and stay connected with their community. When a customer falls behind on payments, it’s rarely because they don’t care; often, it's because life has thrown them a curveball.

This is why we believe in approaching every conversation with empathy. We don’t see our customers as just another account number or unpaid invoice. We understand that behind every late payment is a person, a family, and a story. Treating them with dignity and respect is not just the right thing to do—it’s essential to fostering trust and building long-term relationships.

Problem Solving, Not Problem Escalation

In the subprime market, traditional methods of collections often rely on pressure tactics or threats, which can only add stress to a customer's already challenging situation. We take a different approach. When a customer can't make a payment, our goal isn't to escalate the problem but to find a solution together.

Instead of pushing for immediate payment without understanding the context, we take the time to listen. What happened? Why was this payment missed? Is there something we can do to help? By working together to come up with a plan, we can often prevent the situation from spiraling into something unmanageable. Whether it's offering flexible payment options or simply providing more time, our focus is on being an advocate for the customer, not an adversary.

The Long-Term Value of Respect

In collections, the temptation to focus on short-term results is strong. But while pressuring a customer into paying today might yield a quick win, it's not sustainable. When we treat our customers with respect, we show them that we genuinely care about their well-being and success. This helps to build trust, and that trust translates into loyalty.

Customers who feel respected are more likely to communicate openly about their financial situation, seek assistance before things get worse, and ultimately, stay in good standing over the long term. By focusing on respect, we not only help our customers succeed—we ensure the long-term stability of our business as well.

Changing the Narrative

The BHPH and subprime lending industries have long carried a stigma. Too often, people think of these industries as predatory or unforgiving. We're here to change that narrative. By centering our collection philosophy around respect, we’re proving that it's possible to run a successful business while also treating customers with kindness and compassion.

In conclusion, respect is more than just a value we talk about—it’s a principle we live by. It shapes every conversation we have with our customers, and it’s the foundation of our collection philosophy. In the end, collections are not just about recovering payments; they’re about supporting people during challenging times and helping them move forward with dignity.