Debt management & recovery systems
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Transcript of Debt management & recovery systems
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DEBT MANAGEMENT & RECOVERY SYSTEMS
MUKTADIR RAHMANID#16211029
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HOW I CHOSE THE BEST DEBT MANAGEMENT COMPANIES
• Nonprofit
• Accreditation
• Longevity
• A clear, comprehensive, transparent website
• Low fees
• A variety of debts
• Extensive customer support
• Extensive educational offerings on personal finance
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ALTERNATIVES
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AVOIDING DEBT MANAGEMENT SCAMS
• You should be the one to initiate contact• Credit counseling should come first• Be wary of guarantees• Fees should be reasonable and clearly disclosed• Get everything in writing
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FINANCE the process of making people or companies pay the money that they owe
to other people or companies
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MAKE SURE THE DEBT IS VALID
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ESTABLISH EFFICIENT SYSTEMS TO OPTIMIZE THE DEBT RECOVERY STRATEGIES
• Locate Debtors• Collection Prioritization and Strategy• Monitor Unpaid Debt• Collections Management Systems• Report Consumer Debt
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COLLECTING YOUR MONEY
• Understand the dynamics.• Remind them about the debt.• Phone calls • Letters and email reminders • Use a collections agency to send letters• Offer a one-time deep discount• Learn from the pros.• Turn the account over to a collection agency
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Commercial Debt Collection clients benefit from:o• Expert account handling by knowledgeable col• Consistent, lec• 24/7 access to account activity p• No collection/no cost ofessionals ction
clients benefit from
Dedicated Teams
Collection Strategy• In-House Collections• Attorney Amicable Efforts• Litigation Process
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