The Debt Collector
The debt collection process at Fetch my Debt is unique, resulting in an 85% success rate. As the debt collector we do not earn a fee unless we collect, we have focused on developing the most successful collection process, analysis and techniques to maximize the recovery and the fee we earn from each viable claim. Our debt collectors have over years collection and business experience, some have advanced degrees, which enables them to successfully implement our unique process at extremely competitive rates.
There is a big difference in our approach vs. the standard collection agency
The Debt Collector Process
Our debt collection effort starts with verifying the contact information provided by our clients and gathering additional information on the business to be used by the debt collector. As the debt collector, we email and mail a short demand letter to the debtor typically within one business day of receiving a claim. However, the primary communication method in our debt collection process is the telephone augmented by e-mail as appropriate.
When we can get the debtor on the phone, we can find out through a series of questions what the real reason is for unpaid bills. Determining the real reason can have a dramatic impact on the approach the debt collector will use. Just simply demanding the money typically does not work. Instead, we often need to get a solid understanding of the debtor’s business, current business prospects, working capital position, secured debts, personal guarantees, etc.. Once we have this information and we understand why they aren’t paying, we can come up with a strategy to get as much money as possible as quickly as possible.
During the debt collection process, we may make dozens of phone calls. With caller ID, computerized telephone attendants, voicemail systems and live call screeners, it often is extremely challenging to get a debtor on the phone. However, we are persistent and relentless. There are situations where we will call several times a day, from early morning to mid-evening, trying to get a live person. We do not use computerized predictive dialers. We do not leave a message every time we call. Instead, the debt collector uses their experience, their intuition, and the specific debt collection history on the account to decide when to call, how often to call, and where to call. We are allowed to call people on their mobile phones and at their homes. We may have to do research to get these phone numbers, which may entail calling relatives, neighbours, and neighbouring businesses. We are discrete whatever talking to someone outside of the business but at the same time the debtor usually gets the message that we are in hot pursuit. This alone makes debts owed to clients of Fetch my Debt moved to the top of the list for debtors.
Ready to collect your money?
To find out more about our debt collection capabilities call us on 1300 887 296