DEFIANCE, Ohio, Nov. 25, 2020 /PRNewswire/ -- Credit Adjustments, Inc. (CAI) has been heavily involved in the student loan space for the last six years. In 2014 CAI was awarded one of the most coveted government contracts in the education space, the United States Department of Education Default Collection Services Contract. This contract enables CAI to assist borrowers who have defaulted on their student loans, helping them get back into good standing. Despite it being one of the most complex contracts to work in the government/education space, CAI was awarded an additional five year extension on the contract. They are currently one of only 13 companies in the country who are privileged to work this contract.
In March of this year, Congress passed the CARES Act, which temporarily suspended most payments and interest on student loans. Then in September, the President of The United States extended the payment suspension through the end of the year. Since Congress has not announced another extension, student borrowers should expect student loan payments to resume in January.
Today, CAI announced their readiness for student loan payments to resume next month. Due to the payment suspensions this year, accompanied by the difficulties every company experienced due to the pandemic, numerous companies laid off or furloughed countless employees. CAI, however, made a commitment back in March that they would not lay off or furlough a single employee during the pandemic. In doing so, once the student loan payments resumed, they would be ready to assist borrowers immediately. With only one month out from payments resuming, CAI is proud to announce that they still have every employee fully ready to go.
"All of our employees require extensive training and screening. Those specializing on the Department of Education contract also obtain security clearance with the federal government. This process takes time to navigate, to ensure every employee is cleared, trained, and ready to perform," said Tony Gericke, President of CAI. "We did not lay off or furlough a single employee this year. We instead became creative and innovative in our business approach, finding new clients and contracts, enabling us to retain all of our employees. Because of that decision, we are now ready to go without delay once student loan payments resume."
CAI knows the value they can have in the lives of the people they assist, especially when changing the trajectory of a defaulted student loan to one in good standing. There are tremendous emotional benefits and confidence that accompany the process of becoming in good standing. CAI also knows the trust others have placed in them, as they are one of the few companies in the entire country who have been trusted to work the Department of Education contract, which is ultimately a major reason why CAI elected to keep everyone employed.
"Our desire is to treat our employees and the student borrowers with respect at all times. It is our job as an executive team to adapt to life's curveballs so that everyone we work with can be successful," said Michael Osborne, Board Chairman at CAI. "I am proud that our amazing team has displayed great poise and innovation, securing multiple nationally recognized clients during the pandemic. As student loan payments resume next month, we stand ready to help these student borrowers get back on track with our expertise and people-first mindset."
What makes CAI unique is their customer service approach to helping these student borrowers feel as though their well being is the first priority. CAI places an emphasis on educating borrowers on potential aspects they are missing in regard to their student loan defaults, that way they are equipped to make the best decisions for themselves moving forward.
It's this mindset that allows CAI to always maintain their priority of being a 'People-First' contact center. As January approaches, Credit Adjustments Inc. will continue to be adaptive, innovative and creative in their mission to help student borrowers change their lives.
ABOUT CREDIT ADJUSTMENTS INC.
Credit Adjustments Inc. (CAI) was founded in 1964 and is headquartered in Defiance Ohio. CAI currently has four locations, and subcontractors in another eight locations across the country, giving the company a coast to coast presence. The company has over 500 employees and prioritizes locations in HUB zones and opportunity zones across the United States. CAI is a contact center outsourcing company who has extensive touchpoints in the Education, Government, Food & Beverage and Healthcare industries. Their many clients include Chipotle, which is the sixth largest restaurant company in the world, and a top 15 U.S. Healthcare System. They are also one of thirteen companies in the country who currently hold the United States Department of Education Default Collection Services Contract. For more information, please visit their website.
SOURCE Credit Adjustments, Inc.