Debt Collection – Account Management
Our main service is where active accounts are managed by our collectors who contact, remind and prompt account holders for a timely repayment of outstanding dues. This service increases the rate of recovery of outstanding balances and also helps as an early detection of accounts that may become problematic.
Upon receipt of instruction from our client, we will immediately appoint a collector to be in charge of the particular account. He will immediately get in touch with the debtor. If there is no response within a period of time, then the collector will pay a personal visit to the debtor. If there is any payment proposal, our collector will immediately contact the client to discuss whether the payment proposal is acceptable. If so, our collector will collect the first payment and remit to the client. Subsequent payment will also be remitted to the client if the debtor pays to the company. If the debtor pays direct to the client, we will monitor the progress of the account. If there is any default, we will immediately follow up with the debtor. Refer Appendix (1)
In event debtor is not contactable or traceable, various searcher and Investigation will be done to ascertain the debtor whereabouts. Once the whereabouts is known, the process as explained above will follow.
- Collection Method:
- Our persistency in phone callings and visiting debtors leads to successful recovery of debts.
- Gentle persuasion produces results.
- We provide diplomatic means of collection services based on a revolutionary idea and majoring in persistency. Our persistency in visiting debtors leads to successful recovery of debts. The most important is that we accomplish our duties without arousing any resentment even though the job ``always involves irritating and /or controversial matter".
Delinquent Account Recovery
Aggressive recovery program of inactive of difficult account, that is provided on a contingency fee basis, which is based on the age of the account, the type of receivables and the geographical location of the accounts.
WE TAKE INTO ACCOUNT THE FOLLOWING CRITERIA WHEN SETTLING DELINQUENT ACCOUNTS:
- Age Of the debt – Generally the older the debt, the more difficult and expensive to collect.
- Underwriting – Underwriting standard of the original issuer has a bearing on collectability.
- Confirmation of the debt – The original documentation or proof of the debt may be required.
- Location of debtor – Geographic location may be a factor in recoverability of the debt.
- History of work done on the account – Accounts that have been
extensively worked are less likely to be profitable.
A number of legal considerations affect the purchase of bad debts. These
include the assurance of available documentation, representation that
balances is correct and the ability to return accounts that are bankrupt,
deceased or that have repaid the creditor.
Sentrafield’s delivery will assure total satisfaction on target either to improve profitability or reduce expenses, which allow clients to obtain a high-rate of return simply by purchasing their charge-offs.
Legal Services - Advocates & Solicitors
Letter of Demand
Third Party Search / Skip Tracing
Due to several attempt of unsuccessful searches, we will carry out a site visit to the provided addresses by our clients and searches outcome. The site visit will also be done for those accounts where by customers are totally avoiding or their refusal to do any kind of payment.
The branch office in Ipoh will cover the northern region site visit and KL office will carry out for the rest of the regions.