In this article, Able Tracers and Debt Collectors South Africa outline when it may be necessary to institute legal action against a debtor and how this process works.
Even in cases where debtors are in hiding - debt collection is possible.
With over 53 years of experience as Debt Collectors in South Africa, our team has gained extensive experience in debt collection and the many processes involved in successfully collecting debt.
Debt counselling is the process of assisting consumers who are over-indebted. This is done by providing legal advice and negotiation with relevant creditors to restructure debt while also offering valuable budgeting advice to avoid future debt.
Over-indebtedness can be defined as a consumer’s inability to pay debts in time or if the total debt exceeds the consumers income after expenses have been paid.
Able Tracers and Debt Collectors has established itself as one of South Africa’s most successful debt collection agencies.
Over the years, we have developed a capacity to turn bad debt into profits allowing us to facilitate the entire debt collection process, including purchasing debtor’s books.
There are hundreds of debt collectors in South Africa - each with their own unique debt collection service offering. However, with so many collection agencies out there, it can become quite challenging to choose which agency to use.
There are several important questions that must be asked when picking a collection agency. To save you some time (and money), we have listed them below.
The following excuses are indications of serious cash flow problems and are good reasons to hand over earlier than the prescribed 90 days
Make the following business practices standard operating procedure in your business and you will be surprised at how much better you can manage, prevent and recover bad debt.
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