Less than three weeks after the Tricolor Holdings Chapter 7 bankruptcy filing, Vervent Inc. has assumed successor servicing responsibilities for the majority of Tricolor Holdings' approximate 100,000 subprime auto loans. With the company’s robust payment infrastructure, all consumer payments have been processed without interruption since day one.

Before the Tricolor Holdings collapse, Vervent was designated as backup servicer by client lenders and investors, a role designed to protect consumers and investors in the event of servicer or loan originator failure. Vervent was not involved in Tricolor Holdings' originating practices or servicing operations prior to the collapse. Following the September 19 bankruptcy trustee court ruling, Vervent was authorized to assume servicing duties to provide continuity for impacted borrowers.

"Our focus is on stabilizing operations and supporting borrowers who have been caught in a difficult situation," said David Johnson, CEO of Vervent. "As of October 1, we onboarded borrower data and are handling account management. Call volumes remain elevated as consumers work through legitimate questions and concerns about their loans and vehicle titles. We're addressing each consumer with the seriousness it deserves."

Vervent is focused on maintaining continuity for borrowers, complying with bankruptcy trustee rulings, and cooperating with all agencies throughout their investigation.

As successor servicer, Vervent's responsibilities include managing loan payments and account servicing, securing and transferring funds, assisting customers with loan payoffs, payment plans and insurance claims, and working with regulatory agencies to ensure compliance with all laws, rules, and regulations.

It is important for consumers to be aware that all loan terms and payment obligations remain unchanged. Borrowers will receive updates as the bankruptcy process continues.

Support for Impacted Tricolor Borrowers

Consumers with accounts under Ganas, Ganasya, and Apoyo Financial will be serviced under the Tricolor brand when receiving correspondence or calling customer service.

Tricolor Customer Service: 1-888-44TRICO (1-888-448-7426)

Email: Tricolor@acct-admin.com

Prefer to Manage Your Account Online? All payment portals are active. You can continue making payments and manage your account online.

Correspondence Address:

Tricolor

6021 Connection Dr. 4th Floor

Irving, TX 75039

The Role of Backup Servicing in Portfolio Failures

The Tricolor situation underscores why Capital Markets Services such as Backup Servicing, secure eVaults, and Collateral and Liquidation Agent capabilities exist in structured finance. These safeguards are designed to protect consumers and investors when servicers or originators fail, providing a mechanism for portfolio continuity even in cases of significant operational breakdown.

"This situation highlights why having an experienced and capable backup servicer is so critical," added Johnson. "Vervent was purpose-built for moments like this. Our infrastructure, protocols, and team are designed to respond quickly and effectively to servicing transitions — especially in distressed or high-stakes environments."

Vervent has activated emergency protocols to address urgent borrower needs. With over 35 years of experience, the company has successfully managed multiple high-pressure servicing transfers, including converting distressed auto portfolios in compressed timeframes and handling high volumes of consumer communications while maintaining service quality.

About Vervent:

As a fintech leader in the industry, Vervent sets the global standard for outperformance by delivering superior expertise, future-built technology, and meaningful services. We support our partners with primary strategic services including Primary Loan & Lease Servicing, Backup Servicing/Capital Markets Services, eVault Solutions, Managed Services, and Credit Card Servicing. Vervent empowers companies to accelerate business, drive compliance, and maximize service. Contact us today to find out how we can help boost your performance at Vervent.com or Solutions@Vervent.com.

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