CSI - Collection Services International

SERVICES

COLLECTIONS

WHAT IS DEBT COLLECTION?

Overdue payments can seriously affect your business if not handled promptly and correctly. They can adversely affect cash flow, turnover, credit ratings and even your business' reputation. When these situations occur, having an effective credit management strategy in place is essential in order to handle and escalate the problem.

Using a reliable third party debt collection agency is a common business practice when resolving late payments. Debt collection can be difficult, especially in overseas market, it's always best to act quickly and with the help of trained and experienced collectors.

Collections Services International’s proven approach to collecting overdue commercial invoices, consumer debt and recoveries is the result of many years of specialist debt recovery experience. Our primary aim is to secure full payment as quickly as possible while maintaining your relationship with your client.

The table below emphasizes the importance of acting fast and effectively on prospective bad accounts, to minimize the risk of losing capital. We recommend that the optimal time to hand over debtors for collection is between 60 – 90 days, depending on your terms and conditions.

Capital Risk percentage

• 10% - 0 – 30 days
• 15% - 30 – 60 days
• 27% - 60 – 90 days
• 35% - 90 – 120 days
• 50% - 120 days and more



On receipt of an instruction an Account Manager is appointed to manage your individual collection. After registration of your instruction, the matter is handed over to our collections department who make initial telephonic contact with the debtor and then begin the collection process using techniques which have been developed over a period of time in our organization.

We take on the role of a sensitive but firm ethical mediator, whereby we successfully collect monies in such a way that the image of our client is not tarnished.

We will provide our clients with full progress reports on all matters handed over for collection within fourteen days of receipt thereof, and thereafter on a monthly basis.

Our offices acknowledge that all communication passed between ourselves are privileged and will be treated with the utmost confidentiality and will not be disclosed to any person in or outside your organization other than on a need to know basis.

All negotiations and payments are to be made through the offices of CSI. Debtors should be referred back to our offices once handed over for collection by the client. The reason being that bigger payments and definite arrangements can be secured by us.

No payment arrangements are made with the debtor without prior consultation and the consent of our clients. Once again we would like to emphasize that should no collection occur, no fees will be charged.

Debt collection is time consuming and has become a specialized field. Our success is in the continuous follow up procedure that causes immense pressure and responsibility upon the debtor to acknowledge liability and ultimately to settle the debt. Here persistence is our trademark. Unlike attorneys, who will litigate via emails and at best get a summary judgment against your debtor. We are hands-on and become part of their lives until the money owed to you is paid.





TRACING

We have various systems available where information regarding absconders can be obtained. We are also in the fortunate position where we obtain information from various Government Departments, Financial Institutions, Cellular Telephone networks, The Media and Consumer Credit Bureaus.

With our research services and current databases we are able to locate through various different systems. CSI has access to a wide range of advanced search engines and IT facilities including internet data, people locators and cross reference directories. Our specialized software, together with other unique debt collection tools, is what gives us the competitive edge in tracing and locating people. We also make use of our in house investigators and field agents to locate absconded debtors.

Our successful traces are screened and verified and are valid for a period of 3 months. A trace fee will be negotiated with the client for all traces to be done. In order to assist us in the efficient tracing of a debtor, we require access to the relevant information in your possession.

We attempt to send out our trace reports within one week after receiving our client's instruction. Where undue difficulties are experienced with a certain case, a tracer will get in contact with the client to discuss the difficulties that are experienced that may cause the undue delay.

REPOSSESSIONS
It will always be our aim to conduct this service in a peaceful and tactful manner, since most people get very upset when they see a repo man repossessing their property. Repossession is a term used to denote a financial institution taking back an object that was either used as collateral or rented or leased. In South Africa, repossessions are carried out pursuant to our laws that permit a creditor with a security interest in goods to take possession of those goods if the debtor defaults under the contract that created the security interest.

CSI has been involved in repossessions and collections for various Corporate Companies, Financial Institutions and Car Rental Agencies. On receiving an instruction the same will first be handled by our Tracing Department to trace the subject and establish where the property in question is. Once that is done our experienced Tracers will then deal with the instruction accordingly.
Our Tracers are well trained and well acquainted with all the legalities regarding this aspect. This service will always be carried out with the highest professionalism and we are always up to date with any new legislation and case law. Repossessions will always be conducted with the assistance of the relevant Sheriff’s for that jurisdiction.

General
We always advise our clients to act in accordance with the National Credit Act and the Consumer Act in that they as credit providers should ensure that their debtors agree to various aspects as stipulated by the Acts. CSI subscribes to the major credit bureaus and lists all default debtors strictly in accordance with the National Credit Act. Once we have listed a debtor only CSI can deregister their names.
We successfully secure and utilize Emoluments Attachment Orders, Warrants of Execution, Default Judgments and Summonses. Where necessary we operate in conjunction with attorneys and have established a long term working relationship to the exclusive benefit of our valued clients, should the debt be of such a nature that it warrants further action other than what we can perform.
As mentioned our fee structure are based on a “No Success No Fee” structure. We would prefer to meet with prominent clients to negotiate and agree upon a percentage fee on success.