Investigation & Checks
In the Debt Collection process, Investigation plays a very important role. Every case is different and has different scenarios. We will first analyze the reasons why the debts turned into bad debts. What were the factors that made the debtor not being able to pay their debts, was the debtor able to pay any payments in the past, and what has been their payment history? We will also look for the current circumstances of a debtor to figure out what are the possibilities to collect the debt.
It is very important to carefully study the case history, look at all the documents, Estimates, Invoices, Bills, Vouchers, Emails, Text messages etc. Each document has to be carefully examined to understand the scenario to fix liability for making a claim.
Once the investigation is done, we will connect with the debtor and strike a claim for the dues. They will be shown all documentation and we will make a demand for the repayment of all dues. Based on these discussions further course of action is taken.
The role of debt collection agents should be of a facilitator not only for their client but for the debtor as well. Every debtor is not the same, there will be many people who understand their liabilities towards the lender and striving hard to pay back their debts. It is the circumstances that sometimes are not favorable for them and with a little support they can start paying back. A good debt collector will also act as an arbitrator and mediator between the lender and the debtor to recover the debts. They try to make the terms easier for the debtor to be able to pay back their debts.