Consortium Partner Program
Overview of Program Benefits:
RRL seeks to form a consortium of credit card issuers. This consortium would be an economic entity only that requires no joint operations, collaborations or sharing of information by credit card issuers. All credit card issuers are welcome to participate in the consortium. The consortium is fully administered by RRL Finance. Sign up is easy.
American consumers’ unsecured debt problem is too big to ignore and very ripe for a change in recoupment strategy. In 2009 and 2010 combined, we estimate that there are more than $150 billion of addressable charged-off accounts (“Story Credit” accounts). This issue is too large and too complex for any one credit card issuer to solve alone.
Major credit card issuers have an opportunity to profitably participate in the restructuring of American consumers, while creating an economic stimulus and publicizing the deliverance of a “consumer stimulus.” Partnering with RRL to form a consortium of credit card issuers is not only good policy, but it’s the right strategy and provides attractive economics. Specifically, Consortium participants will enjoy the following benefits:
• Recoup significantly larger amounts of charge-off balances (40 – 60 cents on the dollar) versus selling credit card portfolios for pennies on the dollar; cutting losses and increasing profitability on troubled accounts.
• Improve consumer and Capitol Hill sentiment toward banks, Wall Street and other financial lenders by publicizing an economic stimulus centered on sponsoring a “consumer stimulus;” consistent with increasing brand value
• Retain good customers who may have fallen on hard times; a good customer restructured can generate years of new profits and growth for credit card issuers
• Bring in-debt consumers back into the credit markets with a stronger profile by removing credit reporting derogatories caused by circumstances beyond a consumer’s control
• Create an out-of-the-box paradigm shift by positively restructuring the American consumer to drive economic and corporate growth
• Generate significant returns on their investments, consistent with increasing shareholder value.
To inquire about the program, please send an email request to firstname.lastname@example.org. Please include your name, your company’s name and a contact phone number in your email and our Consortium Program Coordinator will contact you as quickly as possible.