BEST RECOVERY SERVICES

If you have the time to chase your debtor and they are expected to pay quickly then collecting a debt yourself is the preferred option. However, using a DCA is a preferable first step to recovering a bad debt. It offers a no cost no risk solution to debt recovery and can prepare the ground for recovering the debt through the courts. Instructing a solicitor should be done as the last resort after attempts to collect the debt amicably either through your own efforts or through a DCA have failed.

Letters, emails and calls are used as part of our amicable process. The exact sequence of our letters and calls varies by country, based on Atradius Collections’ experience of what is most effective in the area. For all countries, a first reminder letter is sent within 48 hours of receipt of the case. For some countries, we visit the nonpayers premises at additional expense, but this situation is irregular.

The next steps depend on the country where the debt is located. These steps include a follow-up call made between 1-10 days after the first reminder. Additional reminders and calls are made to the nonpayer at differing intervals if there is no immediate positive response from the nonpayer.

We try to reach the debtor by email, phone calls and sometimes even by fax, depending on the information at hand. We also attempt to find additional information and trace the debtor in order to get in contact. In some circumstances, agents may be used to trace or visit the debtor’s business premises.

When you place a debt with us, we request as much information as you can provide. We usually need invoices and contracts, but also statement of accounts and correct debtor contact information.

It usually takes about 90 days to handle an amicable case. This sometimes varies based on the status of contact with the debtor. If we are not successful in the amicable phase, we will provide you with our recommendations for further actions.