What is the first step in the procedure for conversion when a customer falls below their deposit?

The first step in the procedure for conversion when a customer falls below their deposit is to send a conversion worksheet. This document serves as an essential tool in the process, providing a clear outline of the customer's current status regarding their deposit and any necessary actions that should follow. It typically contains detailed information about the customer's account, including the amount currently held, any deficiencies, and a checklist of items that need to be addressed for a successful conversion.

By starting with a conversion worksheet, the organization ensures that they have all relevant information gathered and organized, allowing for a thorough review before taking further action. This systematic approach helps maintain clear communication and transparency with the customer regarding their situation, as well as facilitates more informed decision-making moving forward.

Sending a demand letter, performing a drive-by inspection, or stopping all forms of communication are actions that could come later in the process but are not the initial steps when addressing a customer's deposit deficiency. These actions might be appropriate under certain circumstances but do not lay the groundwork for addressing the issue with the customer in a structured manner, which is why the conversion worksheet is the correct first step.