Debt Collection Port Elizabeth

Debt collection is time consuming and has become a specialized field. Our success is in the continuous follow up procedure that causes immense pressure and responsibility upon the debtor to acknowledge liability and ultimately to settle the debt. Here persistence is our trademark. 

There are two basic collection phases used namely our standard collection and legal debt collection. All accounts follow the standard collections phase and should get paid by the completion of this phase. However, should the debt still be unpaid the debt will follow into the legal collections phase. 

After registering the debt on our database we start with an intensive strategy containing the following: letters, telephone calls, faxes, personal visits, enquires, interviews and any other way of personal contact.

During this phase the whereabouts of the debtor will be traced, confirmed and updated. A payment plan will be negotiated and the financial position of the debtor established. Ultimately, settlement of the account. 

Should this not be the case the next phase of legal collections will follow.

Debt Recovery Categories

  • Bad cheques and overdrafts
  • Commercial loans
  • Commercial judgements
  • Retail and department store accounts
  • Credit card accounts
  • Overpayment refunds
  • Unpaid invoices
  • Private loans made to individuals
  • Rented property debts

Three classifications of debt

  1. Overdue account - waiting for payment for 30 days
  2. Long overdue account - normally 60 days
  3. Bad debt accounts - overdue for 90 days or longer

 

Requirements

Before we can start working

We want proof that the debt is valid by means of the following:

  • Detailed copies of invoices, statements, C.O.D invoices, delivery notes
  • Copies of any agreements, bank statements or any other written acceptance of the agreement between yourselves

We require any information regarding the debtor whether old or new.

We want to see the following:

  1. Capital amount - as per the agreement
  2. Interest - what is the agreeement and detailed calculation
  3. Fees added - as per your agreement
  4. Service date
  5. All payment amounts and dates
  6. All credits be applied