Announcing in-store financing
for NexPet members only!
United Consumer Financial
Services
UNITED CONSUMER FINANCIAL SERVICES
UNITED CONSUMER FINANCIAL SERVICES
UNITED CONSUMER FINANCIAL SERVICES
Why UCFS?
• UCFS has developed a program that
enables you to do more business with
more customers
UNITED CONSUMER FINANCIAL SERVICES
Your UCFS Team
•
•
•
•
Tim Gebhardt
Julie Ludlow
Carol Stahl
Becky McMullen
(your UCFS team has combined experience
in merchant financing of 100+ years)
UNITED CONSUMER FINANCIAL SERVICES
Program Overview
• In-store closed-end contract financing
• For purchases of $300.00 or more
• A/B/C credit rated customers can qualify
for credit
(Store employees are not eligible)
UNITED CONSUMER FINANCIAL SERVICES
Levels of Financing Available
• No down payment is required, but may
affect approval when credit is border-line
• $25.00 administration fee, paid on
purchased contracts only
• Buy Rate ranges from 75 to 100%
depending on credit-worthiness of the
customer
• Store pays the difference if you choose to
accept the Buy Rate
UNITED CONSUMER FINANCIAL SERVICES
Payment of Contracts
• Funds paid within 24-48 business hours of
completed contract submission
• First payment default
– If the customer does not make the first
payment, the merchant is responsible for the
net amount funded on the contract
– Merchant is notified of potential default
– 60 days from notification to resolve with the
customer
UNITED CONSUMER FINANCIAL SERVICES
The Credit Application Process
• Customer fills out application
• Add your merchant number and insert
estimated amount to be financed
• Call the completed application into an
Instant Credit operator at 1-866-342-1670.
• You will be told if it is an accept and the
buy rate, or declined.
UNITED CONSUMER FINANCIAL SERVICES
Applications Approved by UCFS
• UCFS will offer the store a Buy Rate based on
the applicants credit qualifications
• Store makes decision to accept or decline Buy
Rate offered for that customer
• If accepted - fill out a contract and obtain a
legible copy of the driver’s license (to verify
customer I.D.)
• Fax contract, credit application and copy of
driver’s license to 1-800-266-9441
• The paperwork will be checked for accuracy and
the contract will be accepted
UNITED CONSUMER FINANCIAL SERVICES
Approval
•
Please make sure the customer has received
their copy of the contract before leaving. We will
follow up with the customer in approximately 2
days to confirm their satisfaction and
understanding of the contract terms.
•
If the employee needs help with the figures they
can call us for assistance (some states are
different, so please tell us the state for which you
need figures).
***Remember to write your merchant number at the TOP of the Application & Contract***
UNITED CONSUMER FINANCIAL SERVICES
Buy Rate Decision
• After you are offered a Buy Rate you may
extend the offer of financing to the
customer or not
• If not…
– “Unfortunately you did not qualify for our
consumer credit program, would you like to
look at another payment option?”
UNITED CONSUMER FINANCIAL SERVICES
Applications Declined by UCFS
• The employee will not know the reason and
should not guess or offer any reason
– State “I am sorry you were not approved to use
financing as a payment option. Would you like to look
at another form of payment?”
• Fax the credit application to 1-800-631-6600
• UCFS will send the consumer a letter with
information on how to find out why they were
declined
UNITED CONSUMER FINANCIAL SERVICES
The Contract
• EFT (Electronic Funds Transfer) is the preferred way to
set up contract payments. Assume this to be so unless
the customer objects
• Fax all contracts, credit applications and legible Driver’s
License copies upon completion to: 1-800-266-9441
• Remember to write your merchant number at the top of
the contract
• Be sure all applications and contracts are signed by all
parties
• Secure all applications, contracts and copies of driver’s
licenses in a locking storage system (file cabinet, lock
box, etc.)
UNITED CONSUMER FINANCIAL SERVICES
Returns
• Call UCFS immediately to report any
return of merchandise that was financed at
UCFS and arrange for repayment of the
funded contract.
UNITED CONSUMER FINANCIAL SERVICES
Completing UCFS paperwork
is EASY!
1. UCFS Credit Application
2. UCFS Contract
3. UCFS Payment Chart
UNITED CONSUMER FINANCIAL SERVICES
Remember your merchant number
This is a UCFS Credit Application
•
It must be completed for every
contract submitted.
•
Fill in as many spaces as
possible.
•
Please make sure to write your
UCFS Distributor number on top
of the credit application.
•
All credit applications and
contracts will be assigned an 8
digit account number so it can
be tracked in our system.
Assignment of account number
does not mean that credit has
been approved.
Using EFT? Fill in these two spaces
36
80.17
Make sure
all buyers
sign
UNITED CONSUMER
FINANCIAL
SERVICES
This is a UCFS Contract for Ohio .
•
There are different contracts for
each state & District of Columbia.
•
It is important that this document is
completed as accurately as
possible. Errors may cause delays
in processing.
•
All buyers, along with seller, must
sign the contract.
•
The next few slides will provide
information to help you complete
the contract.
•
To make it easier to read, we will
break the contract up into three
parts: top, middle & bottom.
UNITED CONSUMER FINANCIAL SERVICES
Store/Compay name
123 Your Street
xxxxx
Anytown
OH
John Smith
123 North Main St
Westlake
45601
Describe merchandise
being financed
2,500
45601
2,500
156.25
UNITED CONSUMER FINANCIAL SERVICES
Determine the Cash Price by adding
the Sales Tax to the Selling Price.
Subtract any Down Payment given
by the customer to calculate the
Unpaid balance/Amount Financed.
That amount will also be written in
Box 1 on the left side.
2,656.25
556.25
556.25
2,100.00
36
556.25
2,100
786.12
21.98
2,886.12
3,442.12
80.17
5/8/09
90 Days Same As Cash
Offering “Same as Cash” options?
Write it in here.
First payment should be due 30 days from contract date.
We will determine how to calculate these figures in a little bit.
UNITED CONSUMER FINANCIAL SERVICES
Contract MUST be completed, without any blank spaces, and
signed by Seller (or Seller’s representative) before giving
copy of contract to Buyer(s).
UNITED CONSUMER FINANCIAL SERVICES
This is the 21.98% Factor Sheet
UNITED CONSUMER FINANCIAL SERVICES
UCFS Website Enrollment Instructions
1. Type www.ucfs.net to get to the website.
2. Click on “Online Service” tab to get to the Login
Page.
3. Click on “Enroll in Online Services” to enroll in
the website.
UNITED CONSUMER FINANCIAL SERVICES
UCFS Website Enrollment Instructions
4. Enter the following required information:
• The Merchant, Distributor or Client Number
• A contact name for the merchant’s business
• Validation type (choose one from the following)
 VRU Pin Number (if the merchant is already registered on the VRU)
 Social Security Number (if on file and known)
 Federal ID (if on file and known)
 Email (if no other info is known or on file and a valid email is on file)
• User Name (for logging in)
• Password
• Valid Email Address
• Security Question (in case the merchant forgets his/her user name or password)
• Whether the merchant would like to receive online message notification
• Whether the merchant would like to receive periodic information updates
UNITED CONSUMER FINANCIAL SERVICES
UCFS Website Enrollment Instructions
5. Confirm the information
6. Accept UCFS’ Terms and Conditions by checking
the box
7. Registration process is complete, click on “Log into
UCFS Online services” to log in.
UNITED CONSUMER FINANCIAL SERVICES
Logging Into Online Services
Enter your Username followed by your Password
UNITED CONSUMER FINANCIAL SERVICES
Click on the Current DNCR to display your DNCR
Daily
New
Contract
Report
UNITED CONSUMER FINANCIAL SERVICES
UNITED CONSUMER FINANCIAL SERVICES
Dispositions – on DNCR or Web site
(for credit application not originally submitted via Instant Credit)
•
Approved - PDA2 Please Fax Contract to 1800-631-6600 with the Percentage of Approval
(EX: 95%)
•
PDA2 Pending Team Review
•
PDA2 Does Not Qualify for Financing
UNITED CONSUMER FINANCIAL SERVICES
Follow Up
Based on the Decision
•
Approval – Fax Completed Contract to: 1-800266-9441; Make sure to include a copy of
customer’s driver’s license.
•
If disposition says Pending Team Review –
Check back later for the decision.
•
PDA2 Does Not Qualify for Financing – No
action needed.
UNITED CONSUMER FINANCIAL SERVICES
UNITED CONSUMER FIANANCIAL SERVICES (UCFS)
CONTACT INFORMATION
UCFS Main Telephone Lines:
UCFS Website:
Address:
Finance Team
Team’s Direct Phone number:
Julie Ludlow
Manager
Kathy Kray
Evening Contact
Instant Credit
Instant Credit Direct number
Instant Credit Fax number
Becky McMullen
Director IC
Alexis Szudarek
Night Sup.
Account Services (Collections)
Jim Barnhart
Director AS
Amanda Brown
Supervisor
Candice Rodriguez
Supervisor
Supplies
Kim Ortiz
Banking
Connie Paynter
UNITED CONSUMER FINANCIAL SERVICES
1-800-344-5000
440-835-3230
WWW.UCFS.NET
865 Bassett Rd.
Westlake, OH 44145
1-877-468-3263
8:00am-5:00pm
X6643
5:00pm-1:00am
X6792
1-866-342-1670
1-800-631-6600
7:30am-4:30pm
X6684
4:00pm-12:00am
X5021
X6653
X6681
X6636
8:30am-5:00pm
X6700
8:00am-4:30pm
X6844
Thank you for giving UCFS the
opportunity to work with you and
help grow your business!
Questions:
UCFS
UNITED CONSUMER FINANCIAL SERVICES
877.468.3263