Debt recovery from people to whom you have loaned money is becoming increasingly difficult because of ineffectual legal support to creditors. When your debtor ignores letters, makes umpteen excuses and false promises or issues cheques that are never honored, then it is time to call in the professional debt collectors.
Debt recovery professionals help you recover money owed to persons by engaging specialist teams of collectors and investigators. When it becomes reasonably clear that a debtor has no intention of returning the money borrowed from you, they swing into action and help you get back your money through professionally negotiated settlements. In many cases they arrange meetings between of the debtors and the lenders so that a line of communication is established to help you recover the amount.
It is commonly seen that individual attempts at recovering loaned money usually end up in repeated failures because of the various delaying tactics adopted by debtors to avoid repayment. Enlisting the help of professional debt collectors is the only way you can recover your hard-earned money when your debtor ignores letters, calls, faxes and emails or issues dud cheques.
Professionals in debt recovery business know exactly how to deal with difficult recovery situations. They have years of experience dealing with every type of tricks practiced by debtors. With their immense experience, they know which technique works best on an individual. By using the right tactics and the precise amount of pressure, the debt collectors succeed where others have repeatedly failed. Professionals in the business have proven to be very effective in recovering loaned money with minimum hassle.
The mere presence of professional collectors shows your debtors that you are dead serious about having that money back in your bank. Debtors will see the futility of making innovative excuses and issuing cheques that are never going to be honored. The collectors never take no for an answer, forcing the debtor to give up his resistance and yield to the relentless follow-ups and recovery tactics.
Debt collection is a highly organized and professional service. The recovery process usually begins with a phone call to make the debtor aware that the debt recovery process is being taken over by professionals. They are also made aware of the consequences of non-payment. When negotiations over the phone fail, a personal visit is arranged. In cases where the debtors become intractable, the collectors use sophisticated tracing software to locate them anywhere in the country.
The presence of multiple offices and a team of dedicated and trained professionals help collectors achieve continuous success in their task. They will travel anywhere across the country to get your money back for you. Their superior tracing techniques involve looking for electronic footprint left by the debtor such as using a credit card, applying for a passport, paying income tax or applying for a loan. Debtors can be traced within 24 hours depending on the type of information received through their tracing software.
Debt collectors usually charge 10 to 17% commission on the collected monies. Administration fee, which is a percentage of the amount to be recovered will be charged initially but will be refunded on completion of the recovery process.
