Credit Control Management Archives

Myths about Debt Collection

Credit Control2019-08-12T15:21:15+00:00August 7th, 2019|commercial collections, consumer collections, credit control, Credit Control Management, debt collection, debt collection agencies, debt collection agency, debt collector, ECCM, medical collections, pre-collection|

Statistics that have been compiled as recently as 2015 show that consumers in South Africa owe debt of up to 75% of their monthly income to their creditors. And more than half of 19 million active credit customers are in payment arrears of 3 months or more. With numbers like this you can be sure that debt collection is an industry that will keep on growing, which means it’s creating lots of new job and career opportunities for young South Africans. Already, there are over

0

What is Debt Recovery?

Credit Control2019-08-30T09:46:48+00:00August 1st, 2019|credit control, Credit Control Management, ECCM|

Debt Recovery and Debt Collection are similar terms with one small, but very important distinction. The difference is who is trying to retrieve a debt. Debt Collection is a creditor’s attempt to recover consumer credit and loans that have not been paid back by a customer. Debt recovery is when a loan- such as a credit card balance- continues to go unpaid, and a creditor hires a third party, known as a collection service, to focus on collecting the money. Its important because it is

0

What to do when a Collection Agency Proceeds with Legal Action

Credit Control2019-08-12T14:41:34+00:00July 29th, 2019|credit control, Credit Control Management, debt collection agencies, ECCM|

Don’t ignore the any correspondence from a Collection Agency. If you fail to respond or show up in court, the judge grants a default judgement against you. In most cases, there will be a settlement conference or arbitration before the trial. This gives you and the Debt collection agency an opportunity to reach an agreement and avoid a trial and the legal fees that go along with it. The debt collector could pursue a summary judgement if none of the facts are disputed and win

0

What a Collection Agency can do for your Company

Credit Control2019-08-12T12:06:24+00:00July 26th, 2019|commercial collections, consumer collections, credit control, Credit Control Management, debt collection agencies, ECCM, medical collections|

The duties of a Collection Agency is simple, yet effective for their Clients. Collection Agencies collect outstanding debts for their clients to achieve collection target to ensure positive cash flow. Collection Agencies communicate with individuals, usually via telephone, to collect payment on delinquent accounts, either on behalf of the original creditor or a third-party debt collection agency. They frequently handle debtors avoiding their phone calls, trying to keep them from hanging up when they realize the call is an attempt to collect a debt.

0

What Does the Debt Collection Process consist of?

Credit Control2019-08-12T11:55:08+00:00July 24th, 2019|commercial collections, consumer collections, credit control, Credit Control Management, debt collection, debt collection agencies, debt collection agency, debt collector, ECCM, medical collections, pre-collection|

The process of Credit Control Management contains of 5 steps that need to be taken. Letter Of Demand Summons Default Judgment Execution Emoluments Attachment order Letter of demands sets out the cause of action on which the demand is based. And will give the other party time to comply with the demand. Once the Summons process has commenced, this sets the required action in place to ensure that there is control in place to ensure the collection will be effective. A summons informs a

0

Basic Debt Collection Techniques

Credit Control2019-08-12T09:09:35+00:00July 22nd, 2019|commercial collections, consumer collections, credit control, Credit Control Management, debt collection, debt collection agencies, debt collection agency, debt collector, ECCM, medical collections, pre-collection|

Basic Debt collection Techniques are effective and can save you money, time & stress. Bad Debt can threaten the survival of a Small / Medium and/or Large Business if not effectively dealt with. When your Debt Collection Techniques do not work effectively, don’t waste time and consider a collection agency. Collection agency fees can be expensive and frequently require large, upfront fees prior to beginning any collection efforts. However we don’t have fees unless we collect, and we have affordable rates. To help you

0