Monterey, CA, December 19, 2008 --(PR.com
)-- Language Line Services, the leading provider of interpretation services, today launched Language Line® Direct Connect, created to assist financial institutions, government agencies and other organizations communicate with limited-English proficient customers impacted by the mortgage crisis with interpretation services. Language Line Direct Connect has interpreters available in over 170 languages to help organizations save mortgages, increase debt collection and work out more favorable payment terms with their customers, regardless of language.
A recent study by the California Reinvestment Coalition (CRC), reporting that more could be done to keep families in their homes, cited language interpretation barriers as the key reason homeowners weren’t informed of better repayment options before their loans were foreclosed. Similar research from around the country shows the same conclusions, noted Language Line Services President and COO Louis Provenzano.
“Language interpretation barriers are a major roadblock for banks, credit card companies and other organizations trying to communicate with distressed limited-English mortgage holders and credit card customers,” said Provenzano. “Language Line Direct Connect ensures that this market segment receives the same level of support as English speaking consumers to discuss payment plans and other alternatives so they don’t default on their loans.”
With Language Line Direct Connect, financial institutions can utilize Language Line Services interpreters and interpretation services to handle all outbound and inbound credit counseling communications with limited-English customers. For outbound calls, contact is initiated by interpreters in the customer’s preferred language. Once interpreters make contact with the customer, an English speaking bank counselor is connected to the call and interpreters facilitate a three-way conversation regarding the customer’s loan and repayment options. If the customer is not reachable, a message is left with in-language instructions for returning the interpreter’s call. The number given is a dedicated inbound line for that specific language, ensuring a consistent customer experience. The dedicated inbound line can also be used for all in-language interpretation marketing outreach programs regarding available mortgage counseling services.
Mortgage Crisis and Limited-English Speakers
· In the coming year, one out of every 200 home mortgages will be foreclosed upon, with 250,000 new families entering into foreclosure every three months. (Source Mortgage Bankers Association.)
· There are more than 38 million foreign-born residents and 176 languages spoken in the United States today. (Source U.S. Census Bureau.)
· At the end of 2002, Latino households held 88.4% or more of their total net worth in home equity. (Source: Rakesh Kochhar, The Wealth of Hispanic Households: 1996 to 2002 at 20 Pew Hispanic Center, 2004).
For more information on Language Line Direct Connect, or to subscribe to the service, please contact your Language Line Services sales representative or Greg Marshall at 1-866-862-5530, email firstname.lastname@example.org or visit www.languageline.com/directconnect.
About Language Line Services
Language Line Services, the world’s leading provider of language-based interpretation services, is a trusted partner to thousands of organizations throughout the United States, Canada and the United Kingdom whose focus is to effectively serve the rapidly expanding market of limited-English speakers. The company delivers a dynamic suite of solutions spanning phone and video interpretation, document translation, interactive software-based translation, and interpreters training and certification programs, enabling clients to communicate with customers in their preferred language. Through its leading-edge technology infrastructure, Language Line Services delivers support for over 175 unique languages to its industry-leading portfolio of clients across markets including healthcare, financial services, government, telecom, packaged goods, insurance services, travel, and more. For information on how Language Line Services is helping clients achieve their strategic multi-cultural marketing and regulatory compliance objectives, please call 1-800-752-6096 or visit http://www.LanguageLine.com.
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