Presentation on theme: "1385 CC. 1 Specialized Debt Collector. 2 1.Company History 2.Introduction to Full Output 1385 Debt Collection Service 3.Our Mission Statement 4.Our Vision."— Presentation transcript:
1385 CC. 1 Specialized Debt Collector
2 1.Company History 2.Introduction to Full Output 1385 Debt Collection Service 3.Our Mission Statement 4.Our Vision 5.Our Values 6. Our Services Introduction 7.Our Services 8.Debt Collection Process 9.Terms & Conditions 10.Company Details (Residential, Postal & Contact)
3 Full Output 1385 CC. is a company specializing in three main bodies : Debt Collection, Traveling/Touring Agency and Events Management. The company was formed and legally registered in the year 2001 by Mr. Samora Mlotja, a previously disadvantaged individual, who is now a well recognized body in the above mentioned industries. The company, Full Output 1385 CC., has attended to the Government’s as well as the Private Sectors’ needs for more than 10 years and take great pride in the resulting success. Companies lose millions each year due to outstanding accounts. Full Output 1385 CC. is a company specializing mainly in Debt Collection, offering you a wide display of services in order to ease your workload. We at Full Output 1385 CC. are driven to recovering your money as quickly as possible, saving you the frustration and committing us to your high standards. A healthy cash flow for your business is achievable! Keep in mind, that the longer you wait, the more difficult it is to collect…
4 All of our staff at Full Output 1385 CC. Are committed to offering a debt collection service, which ensures a faster, more accurate and professional recovery while maintaining goodwill. Throughout the whole collection process, we’ll be keeping our clients thoroughly informed and in control. We are here to provide all of our well respected customers with the most ethical, professional and effective debt recovery service in the industry, which will limit our client’s losses, maximizing our customers’ satisfaction. We aim to develop and maintain a close working relationship with each of our clients while accomplishing our main objectives. We excel in what we do and the services we provide, which is a result of the passion we have for both our work and our clients. We will triumph over the challenges that the debt industry demands on a daily basis. We will recover unresolved debt promptly and professionally. We will signify innovation and quality that challenges the most leading debt collection agencies in the world. We aim to create as many job opportunities as possible for the unemployed persons in our region, Mpumalanga.
5 Full Output 1385 CC. stands for the utmost reliability and fairness, both with our clients and where we conduct our business. We place a high value on our two biggest assets : our clients and our team of professionals, valuing their hard work. We value hard work, trustworthiness & honesty, ethical principles and respect for all individuals making us move forward and strong in the business industry today. Cash flow problems are widespread in todays economy. Therefore, most business owners are comfortable in hoping their customers will in time pay their bills or write of their bad debt. Meanwhile, your cash flow matters gets even worse… By placing your past due accounts with a professional collection agency, you ensure a continuous and stable level of communication with your past due customers. We offer our clients an proficient debt collection service extending from sending letters to processing legal claims through the South African courts if necessary, providing you with a service which is practical, cost-effective and achievable, backed by our experience, resources an technology. With our staff committed to adhere to a strict and ethical code of conduct, clientele satisfaction is guaranteed.
6 Tracing of Absconded Debtors - Field tracers - Tracing by using our research services and confirming crucial confidential information. Categories of Debt we Recover - Bad cheques - Retail accounts - Credit card accounts - Unpaid invoices - Property debt ( Rentals) - Overdrafts - Medical accounts/collection - Corporate accounts / collection Other Important Services Available - Delivering of Summonses (e.g. Divorce, Child Maintenance etc.) - Delivering of Section 58 Documents - Verification of Qualifications and/or Personal Details - Repossession - Delivering of Court Orders This is a universal list of the debt collection process. Before reviewing this process here are a few points to consider: All claims are somewhat unique and may not necessarily follow this pattern. Time frames are purposefully omitted because of the uniqueness and handling of each claim. Not included in this list is the fact that at any point in the collection process the debtor may pay or otherwise satisfy the debt. We can accommodate special handling requests. We provide timely updates on claims as there are developments. With regard to payment, when the payment is received by the Client directly, the Client notifies us immediately and we send them an invoice for our commission. When we receive payment, we remit to the Client within 15 days of the funds clearing our trust account. All claims are handled in accordance with the Fair Debt Collection Practices Act.
7 The Debt Collection Process: Steps for Debt Recovery Account is placed for debt collection. Client sends information on the debt including supporting documentation. Claim is reviewed and the data is entered into our debt collection program Demand letter is sent to debtor via fax, mail and or and an acknowledgment letter is sent to the Client. Phone contacts begin. We attempt to arrange payment, resolve any disputes and obtain clear commitments on debt resolution. If we obtain payment commitment we work to ensure the payment(s) materialize. If debtor fails to cooperate in resolving the debt we make final pre-legal collection attempts. We send our update and recommendations to the Client, including details on forwarding claim to affiliated attorneys. The Client authorizes forwarding the claim and we send it to our affiliated attorneys that are located near the debtor. We instruct them to work and investigate the claim for 60 days. If the Client decides not to authorize forwarding the claim, it is worked an additional 60 days then the file is closed. Attorney sends update and recommendations. If they recommend initiating legal action they will provide us with their suit requirements. When we receive suit requirements from the Client, the lawsuit is prepared and filed. When we do not received suit requirements or when the client is unwilling to litigate the attorneys will work on the claim for another 60 days then close it. The complaint is served. Attorneys file for default judgment if no answer is filed by debtor. If an answer is filed the discovery process begins and a trial date is later set. If a judgment is awarded in our favor, attorneys file for a Writ of Attachment. Attorneys attempt to locate and verify debtor assets. Attorneys initiate bank levies/ garnishment orders/ liens/ etc. to satisfy the judgment.
8 ADDITIONAL INFORMATION FULL OUTPUT DEBT NATIONAL RECOVERY & DEBT COLLECTION AGENCY Lowest Commercial Rates for Debt Recovery We offer the lowest contingent rates available in the industry. When we collect your money, we take a small portion for our efforts. If we are unable to recover your money, we do not charge you for the attempt. Highest Debt Recovery Rate We have found that a straightforward, professional approach to debt collection produces far better debt recovery results than the traditional strong-arm tactics. The unique approach and strategy used by our debt collection negotiators produces quicker payment from your debtors. If your debtor is still in business, we feel you have a 90% chance of recovering your money. An account that may seem hopeless or destined for lengthy litigation may be resolved amicably through persuasive communication and with a voice of reason. Anyone can threaten legal remedies, but it’s knowing how and when to use this information that demonstrates our talent. Debt Collection Agency: No Advanced Fees or Sign up Costs We operate on a performance-only basis; when we perform, we get paid. Our motivation is to get your money back in your hands, where it belongs. We know that until we do so, we will not be paid. Accordingly, our motivation is propelled by mutual success and is result oriented. Many of our competitors will ask for their reward or retainer up- front. In order to receive their R10, to R30, annual retainers from you they will tell you statistically how good they are. They will tell you that generally, their demand letters will work, but there are no guarantees. Once they receive your check, they have their reward. By comparing the fee structures, you can guess who will give you the more effective results. No Exclusive Annual Debt Collection Contracts Our debt collection program is set up on a per-account basis. Unlike many, we do not require you to lock yourself into a binding annual contract, require you to submit all your accounts to us at a certain age, or even commit to sending them all to us exclusively. When you have an account or accounts that you are ready to place for collection, simply send them to us. We will earn your loyalty through our performance, not through a contract.
9 Attorney Based Debt Recovery System Along with our two in-house debt collection attorneys, that provide us with on-site legal expertise, we have established working relationships with collection attorneys in every major city in North America as well as throughout the world. Their job is to assist us with a more localized collection of difficult accounts. With their help, we are able to "reach out and touch your debtors" wherever they may be. When reason and negotiation fail, they are able to litigate and execute the claim for us. Immediate Phone and Letter Contact When we receive your account we begin immediately to collect your money. We use a proven combination of letter and phone communications designed to persuade your debtor to honor their obligation. Our communications are always in accordance with the Fair Debt Collection Practices Act. We begin our collection efforts immediately and make sure to be in-touch with your debtor within 24 hours of receiving the account. Skilled Collection Negotiators / In-house Attorneys Our talented negotiators and attorneys bring a robust and imaginative approach to collecting your debt. When negotiating, we are not limited by a lack of imagination. We are able to resolve any legitimate dispute or reason for delay and create workable solutions to recover your money. Collections generally consist of debtor companies mailing their checks to us. However, given unique situations or requirements, payment or satisfaction of debt may require imagination and expertise, i.e., accelerated payment arrangements, wire transfers, trades/returns with re-stocking fees, stock transfers for payment, etc. We have the experience and talent needed to recover your money. Litigation Available Nationwide/ Worldwide When needed, we can sue your debtor wherever they are located. Not only do our collection attorneys litigate your account, but they execute the judgment afterward. They are very aggressive in their approach and help bring the legal ramifications of non-payment to bear against your debtor. Asset Search-Property and Bank Investigations For those difficult-to-find debtors we have established relationships with private investigators who will find your debtors and their assets for a reasonable fee.
10 Immediate Feedback On The Debt Recovery Process We make sure our debt collectors have ample time in their scheduling to allow them the opportunity to go the extra mile and provide you with the personal touch needed to make our relationship work. We believe in getting feedback to you as quickly as possible. Instead of mailing you a form letter that generalizes a dispute your debtor may have with you, we call, fax and/or right away to detail the situation for you and receive your instructions. This immediate feedback is not only informative, but it is essential to collecting your debt. We have learned the importance of quick and decisive action. The quicker we respond, the better our chances of recovery. Personalized, Courteous & Prompt Service We enjoy knowing the clients we represent. The way to do that is speak with you often and collect your money. We do all the right things to maintain your loyalty. We maintain your loyalty by offering effective, personalized, courteous and prompt service.
11 By executing this Collection Agreement/ Submitting claims on-line, Client authorizes Direct Recovery Associates (DRA) to perform debt collection services according to these rates and terms and conditions on all accounts placed for collection, including reporting all debtors to the credit bureau. Client authorizes DRA to receive and endorse, for the purpose of debt collection, any funds in all forms received by DRA for the purpose of remitting said principal to Client less any fee due DRA. Client agrees to pay DRA its full commission on accounts collected, paid direct to Client, withdrawn, waived or forgiven, product or services returned or received in lieu of payment, or settled from any source, after demand for payment has been made. Client agrees to pay DRA a 10% fixed fee in the event an account was placed for collection having already been paid by the debtor prior to placement. Client agrees to notify DRA immediately of any direct communication or payment from Debtor. Client agrees to pay DRA an additional 10% fee for any payments received directly by Client from Debtor that are not reported by Client to DRA within 10 days of receipt of payment. All information supplied by your company (our client) on the CLIENT INFORMATION FORM is correct. The person submitting the information is authorized to do so. All Information supplied by our client on the DEBTOR INFORMATION FORM is correct and is owed by the debtor for whatever the reason. Full Output Debt Collect does not call for supporting documentation on submission of the debt, however this documentation should be required, and our client will supply the relevant documents to Full Output Debt Collect and/or the debtor. Once Full Output Debt Collect receives the Client Information Form and Debtor Information Form, our client has mandated Full Output Debt Collect to collect the monies on their behalf. Full Output Debt Collect will at its discretion take all necessary action to recover the debt within the realm of the legal rights given to Debt Collectors. There is no stipulated time given to Full Output Debt Collect to collect the debt. Our client reserves the right to withdraw its dealings with Full Output Debt Collect at any time, providing that Full Output Debt Collect has not incurred any costs or divulged any information for the recovery of the debt to our client. Full Output Debt Collect reserves the right to withdraw dealings at any time with our client.
12 Full Output Debt Collect reserves the right to charge for costs incurred and/ or information supplied should this arise. Our client will pay Full Output Debt Collect within 7 days of Full Output Debt Collect invoice unless other arrangements have been agreed to. Should Full Output Debt Collect invoice not be paid within the stipulated time period, as shown on our invoice to the client, the client will be liable for a 30 % collection fee, and / or any legal costs / fees incurred in the collection process. Claims Not Accepted for Collection Claims under R Small claims court judgments. Claims without a current address. Claims with no supporting documentation. Claims against businesses that are out of business. Claims related to the adult entertainment industry. Other claims deemed unacceptable by Direct Recovery Associates. References: Thaba Chweu Municipality Residential : Postal : 71 Kantoor StreetP.O.Box 803 Office 4 & 6Lydenburg Lydenburg Contact Person : Mr. Samora Mlotja Tel: Cell: Fax :