LOUISVILLE, Ky. — Peritus
Portfolio Services recently signed a multi-year agreement to offer SteadyPay
Payment Solutions services to its customers who often purchase vehicles at
buy-here, pay-here dealerships.

Officials explained SteadyPay offers automatic bill payment
via payroll deduction. Peritus' customers can accumulate funds over time
through payroll deductions, ensuring that money is available when a payment is
due. Those payments are then made to Peritus automatically on the customer's
behalf.

For Peritus Portfolio Services, SteadyPay is meant to ensure
that customer payments will be made on time every month, improving cash flow
and eliminating delinquencies.

"The buy-here, pay-here industry is quickly becoming the buy-here,
pay-there industry. SteadyPay makes it easy for our customers to make an
automatic payment directly from their paycheck regardless of where they reside,"
Gary Perdue, president and chief executive officer of Peritus Portfolio
Services.

"For us, having the money come directly from the employer is
the surest way to get paid and is resulting in fewer delinquencies and improved
operational efficiencies," Perdue continued.

Each day, the SteadyPay system can process payments that are
scheduled for release. Peritus receives the same day payment, posting details
needed to ensure payments are correctly applied and a deposit into its account
the next business day.

"Because SteadyPay is a good funds model, there are no NSF
returns to manage," officials said.

For Peritus' customers, the company insisted SteadyPay can make
budgeting easier and can eliminate the need to worry about late payments or not
having the funds needed to make a payment when it comes due.

Peritus added timely payments also have a positive impact on
a customer's credit score and help with the rebuilding process.

Darcy Locke, president and director of national sales for
SteadyPay Payment Solutions emphasized that SteadyPay is easy to set up, and can
provide customers with online access to payment history and more.

"Peritus Portfolio Services is a progressive company that
understands not all customers' financial tools and resources are created
equally." Locke said. "We are pleased to be able to meet their needs for a solution
that allows their customers to schedule an automated payment directly from
their paycheck."

Continue the conversation with SubPrime Auto Finance News on LinkedIn and Twitter.