We are not conventional
You have debts to collect?
No debt is too large or too small
Corporate or Consumer Debts
Any nationality or jurisdiction
We collect debts through use of Internet technologies and social media platforms.
Of course we need to carefully consider the particular channel and its potential audience.
It may be acceptable to attempt contact via emerging technology provided we have:
reasonable belief that contact will be with the debtor
reasonable belief that the channel is not shared with other parties
(for example, a shared work email address or joint social media account).
We believe it is reasonable to contact debtors in many ways which include but
are not limited to the following:
Communications by phone - including circumstances where the recipient
(debtor or other person) elects to terminate the call, or where a voice message is left on a
recording device, or where a message of any kind is delivered to the recipient (for example, text message)
Communications in writing - including all written correspondence (for example, letter, email,
text message, fax, social media application or program, instant chat, phone application,
or any other similar device)
Communications in person - including face-to-face
We don’t aim to embarrass or shame a debtor in public but the nature of social media sites
makes it very diffcult to avoid, making the debtor’s friends, suppliers, employer or co-workers
aware that the debtor is being pursued for a debt, or creating an impression that the
debtor is under surveillance.
Quite often, phone calls are made to debtors
who are either at work or at home with their
family or friends and which debtors are
uncomfortable with. Communication through
SMS (text messaging), email and social media
is an increasingly easy and acceptable means
of getting in touch and keeping in touch with
the debtor, in order to achieve the best possible
outcome for both parties.
Imagine logging on to Facebook and finding
a new message in your Inbox. It’s not from a
family member or an old friend, instead, it’s a
debt collector asking why you haven’t paid.
Debt collectors are now using social media as
yet another way to contact debtors, in addition
to phone calls, letters, text messages and emails,
and we are leading the way in the use of
Any public information is fair game. It is relatively
standard practice for debt collectors to do some
research online about debtors.
Both Facebook and Twitter do try to protect their
users against harassment, abuse and threats.
However, this protection is very limited. The most
Facebook or Twitter can realistically do is ban a
user and remove posts. This is not a very big
deterrent and may be too late to protect a debtor
from the embarrassment about a debt-related post.
In addition, aggressive debt collectors can simply
open an account under a different name and
continue the activity.
Facebook, Twitter and LinkedIn terms and
conditions are, first and foremost, to protect
themselves rather than their users. Social network
sites or services may not be ableto really protect
against aggresive debt collection activity.
Why subject yourself to stress?
Collection calls are a stress – even when you do not pick up the phone.
The frequency of the calls is enough to cause some people to pick up and agree to some
form of payment – just to get the calls to stop.
With collection calls, the idiom “the squeaky wheel gets the grease,” certainly applies.
When you do answer the phone, what a debt collector says, or even what you say to a debt collector,
can often introduce more pressure to the situation. You may be confronted by a debt collector who is
overly abrupt, and lays on the aggressive “you need to pay your balance on this bill today” approach.
Sometimes it is not even what a collector says, as much as how something is said.
The tone and cadence of the person confronting you on the other line is a tool, and probably
the best tool a debt collector in a call center has. The best debt collectors I know recognize this.
Debt Discounting & Reduced Payments
There are different stages of collection. Once you start hearing from a collection
agency, you are typically at least a few months late on paying a bill. Depending on
the type of bills you owe, your current financial situation and other factors, a debt
collector may offer to discount your debt. Creating a situation where your debt
suddenly becomes more affordable to you is another tool debt collectors have.
Whether or not, and by what amount, a collector will reduce your debt will vary from
one account to the next - and from one person’s unique circumstance to the next.
But it has become more common for collectors to offer a lower payoff initially.
Collection agencies may simply mail an offer to settle your account for less than what
you owe. So why would a collector offer a discount?
Balance reduction offers from debt collectors are sometimes the best opportunity
for you to negotiate a settlement before social media sites become involved and your
longer term credit rating is irreparably damaged. You should also know that you do
not have to wait for an offer from a debt collector. You can bring up the topic yourself,
plan your offer ahead of time, and negotiate with your debt collectors.
And if you don’t reach agreement
Once the debt collectors have been nice to you but you still have not settled your outstanding
payments, because you can’t or you don’t want to, life can become more unpleasant.
Reputation is important in business and as an individual.
Beyond six months, debt collectors may decide to continue with calls and letters or
to ratchet up the stakes. Ignoring the debt problem will only make it worse.
Your credit will be impacted
Debt collectors report accounts to various credit bureaux. Your credit score will drop
and may have already dropped if the collection is on a credit card or loan. The late payments and
subsequent charge-off that typically precede a collection account will have damaged your
credit score by the time the collection happens. It is embarrassing and concerning if your bank,
customers or suppliers discover your payment reputation.
Collectors will keep calling you
A debt collector’s job is to get you to pay for the debt. Often, collectors don’t get paid unless they
collect from you. You can expect constant phone calls and letters from debt collectors until you pay up.
Trading or credit applications may be denied
Debt collections are a serious delinquency and signal to other creditors and lenders that
you haven’t always kept your payment promises.
You would be deemed a riskier borrower and because of that, some of your applications for new
credit may be turned down.
You may pay higher interest rates if you are approved
Not all applications are denied because of a collection on your credit report. If you’re approved,
you might be required to pay a higher interest rate to compensate for the increased risk of non-payment.
Other suppliers or services may require you to pay greater upfront security deposits.
The debt gets passed around from one collector to another
Collection agencies typically are assigned a debt for a few months. If you haven’t paid in that time,
a new collection agency may take over the debt. The process repeats several times
through the years until you finally pay up. The debt will never just go away.
You could be sued
Many people think collectors won’t sue for debts under a certain amount, but truthfully, collectors
can sue you for a debt of any amount. In our case it is a strategy of last resort but we will do it and
in the case of a successful prosecution, the debtor has to pay court fees, damages and interest,
plus yet further damage to the debtor’s reputation.
When a debt collector sues
If a collector sues, you'll get advance warning. Before the court date, law requires that a person is
given adequate notice of legal proceedings. You'll get a demand letter, which is your final notice
before litigation begins. Then you'll receive formal notification, known as a summons and complaint.
This formal notification is typically served in person or by certified mail. A court date is set.
If there is a judgment, debt collectors have a number of ways to collect your money.