Our Collections Procedure
1. Start-up & Processing
When we receive a case we will verify all case details like debtor contact, invoice details, and check for known delinquency status. Subsequently we will register it in our case management system, and send out a first so call 'Debt Notification Letter'. We neatly inform debtor that we have been assigned by our client to recover an overdue balance, and allow 14 days to settle the balance. No extra fees are added at this stage.
2. Reminding & Mediation
Within the next 2 months we are sending up to four separate dunning letters, available in 35 languages. These letters are sent by email, fax, and postal service*. Within this process extra fees (notification charge, late payment fee, statutory interest charge etc) are added in each step 4/4. As soon as debtor responds we start mediation, start resolving possible disputes on invoices, and/or negotiate repayment schedules. We keep track of all communications and logs are ready available online for our clients to view.
3. International Assignment & Registration
The case is forwarded to one of our international partners in the country of the debtor (if available) for local follow up. Also, the debtor will be registered at our international delinquent register. Our clients are permitted to request an analysis for creditworthiness of any hotel they wish to sign up. We may then consult this database.
4. Enforcement & Escalation
In case we did not achieve any result in all previous phases, we will inform debtor that the case will be prepared for legal enforcement and inform them on possible further steps.