Oct 1 2007
To all sales offices.
Within the next day or so you will have received a copy of the following letter and the merchants will have received a letter as well.
The letters outline service changes in ARC designed to improve it to the level the merchants expect. We have found that the store owners are
understanding the service to be different than what is was intended. It is currently being used for their customers who are not able to qualify
for traditional financing. The original program intent was for people who did not have questionable credit. Since it has taken the marketing
turn it has it was decided the pricing and procedures should be adjusted to follow in line with what the store owners want.
These new adjustments are flexible in that each store will be looked at on a case by case basis over time and adjustments will be made as needed.
The changes are not meant to be punitive and are being done to insure each entity involved in the process is obtaining the desired affect.
One of the major issues was the claims process. With the process as it was many merchants were not able to keep up with the required time lines for
requested documents. Many times it had to do with either imagers failing or faxes not being sent in a timely manner. Part of the new process is a
built in forgiveness factor for merchant mistakes.
Both letters are available for view here.