Debt management in any credit environment requires extensive time and resources, and is crucial to the health of any company. Our firm can ensure that your financial recovery opportunities are maximized cost effectively.
The current practices among corporate companies are, once a debtor defaults on its repayment, it is first referred to Debt Collection Agencies to recover the same with fixed commission payable upon successful recovery. In the event the said Debt Agency fails to recover, the said files would be forwarded to a legal firm to proceed with legal action against the debtors. The advantages of this are obvious, the data collected can be immediately fed to the Lawyers and the difficulties encountered by the collectors can be relayed and utilized by the Lawyers. The time savings in this is tremendous.
As an example the life span of a summons has been reduced to six months from one year in the Subordinate Courts. This means that the process of serving the summons has to complete within the new time frame. This includes the application of substituted service, which on its own is time consuming. Failure to do so would require an application to extend the summons.
Our concept actually put the whole process from initial recovery until judgement/ execution under one roof firm i.e. instead of us beginning our process with a letter of demand, we will step into the shoes of the Debt Collection Agency and negotiate first for settlement instead of commencing with legal proceedings which is time consuming and costly. Only as a last resort will legal action is taken against the Debtors.
A dedicated and dynamic team is available to manage your account receivables and assist you to achieve your debt recovery and collection goals in the new millennium. We implement a 4-phased process, which commences with tracing services followed by debt management and in-house legal services.
In this challenging collections environment we assure you that our officers and staff will practice high service standards to maintain the goodwill of your customers at all times.