WELCOME TO CORPORATE FAQ
Here Is The Most Frequently Asked Questions.
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What would make Collections.Inc stop the collections process?d@clear.tel2022-02-07T15:48:44-05:00
On a case-by-case basis, if we judge that we can’t solve the dispute or it’s not cost-effective to continue collecting the invoice, we’ll cease our amicable collections service.
What happens if our late-paying customer becomes insolvent?d@clear.tel2022-01-04T15:05:40-05:00
Our collections experts can handle special situations like insolvency or bankruptcy with their expertise and in-depth knowledge. In most cases, we move the case over to our insolvency service, which includes submitting a proof of debt, communicating with the insolvency practitioners, and monitoring for dividend payments.
What happens if our late-paying customer disputed the invoice(s)?d@clear.tel2022-01-04T15:03:16-05:00
Our collections experts will solve the dispute(s) with their expertise and in-depth knowledge.
Does Collections.Inc support taking legal action against our late-paying clients?d@clear.tel2022-02-07T15:57:19-05:00
Sometimes, it can happen that amicable collections doesn’t yield results. Then we’ll discuss the situation and options with you. If you decide to stop the collections process, we’ll close your case. If you consider pursuing legal action, we’ll advise you on the success chance, possible timeline, and potential costs.
What eventually happens if our customer continues refusing to pay?system2022-01-04T14:59:52-05:00
Sometimes, it can happen that amicable collections doesn’t yield results. Then we’ll discuss the situation and options with you. If you decide to stop the collections process, we’ll close your case. If you consider pursuing legal action, we’ll advise you on the success chance, possible timeline, and potential costs.
Our feessystem2022-02-07T15:55:24-05:00
1. What fees do you charge on successful collections?
Upon successful collection, our success fee is charged on amounts collected. This fee is dependent on the location of your debtor. An extra 2% commission will be charged on top of the standard collection fee for invoices that are 180+ days overdue. This will also be reflected in your quote which you can retrieve here.
2. If you collect costs and interest, are these returned to us?
We apply costs and interest at the statutory rate based on the debtor’s country’s respective laws. If we collect costs and interest on a domestic case (where the debtor is based in the US), this will be returned to yourselves. However, we retain costs and interest on export cases.
3. Would I be charged if I withdraw a case during the collection process?
If you choose to withdraw a case against our recommendation during the collection process, a withdrawal fee may apply. However, you can choose to close the case at the end of our amicable collection phase at no cost. It usually depends on the case and its status.
4. What costs are associated with legal action?
The timeline and costs of legal action will differ per debtor’s country and the size of the debt. We require a retainer from our clients before sending a case for a legal review. It is your decision to proceed with legal action and thus bear its costs.
The timeline and costs of legal action will differ per debtor’s country and the size of the debt. We require a retainer from our clients before sending a case for a legal review. It is your decision to proceed with legal action and thus bear its costs.
5. My debtor made a payment just after I placed a collection case with you. Do I still need to pay the fees?
Should your debtor make a payment just after you have placed your collection case with us, you are still obligated to pay our collection fees. You become a customer as soon as you place a case with us, and as such our professional collectors start working immediately.
Your accountsystem2022-02-07T15:50:37-05:00
1. What are the benefits of an online account?
Our online debt collection platform has many benefits. Our platform enables our customers to stay updated while we recover their outstanding debts.
The platform allows customers to:
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Get an obligation-free, instant quote on our amicable debt collection services
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Access each collection case that is placed with us
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View the status and actions taken in each case
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Contact the professionals working on each case
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View any outstanding invoices
Simply log in or place your first case with us to create an account.
2. How do I recover my login details if I lose them?
Should you lose your login details, you can of course recover them. As part of the on-boarding process, you would have created an account when placing your first case with us using your own e-mail address and password. If you’re still unable to access your account, please contact us and we will be able to assist.
How we worksystem2022-02-07T15:54:19-05:00
1. What services do you provide?
We have several services that we offer and can be tailored based on your needs. Please click here for more details about our services.
2. How do you recover outstanding debts?
We recover outstanding debts with a number of approaches. These include letters, emails and calls which are used as part of our amicable collection process. The sequence of our letters and calls varies per country, based on Collections.Inc’s experience of what is most effective in the region. We also attempt to find additional information and trace the debtors in order to get in contact. Our first reminder is sent within 48 hours upon receipt of a new collection case. For some countries, we visit the debtor’s premises at an additional expense and if the amicable collection process is not successful, our professional collector will assess the case for legal action. This recommendation is based on the debtor’s financial status, debt age, estimated cost of legal action, available documentation and chance of success. Legal charges are an additional expense. Please click here for more information on our debt collection process.
Placing a casesystem2022-02-07T15:53:27-05:00
1. What information do I need to provide when uploading a case?
When you place a debt collection case with us, we request as much information as you can provide. We usually need invoices and contracts, but also statements of accounts and the debtor’s correct contact information.
2. What is the minimum debt amount that can be collected?
There is no set threshold for us to collect. However, you should ensure that it is economical for you to place the case given our file set up fee which varies depending on the location of your debtor. The amount of the debt also determines the success fees that we charge. Get a free quote here.
3. Can I upload multiple invoices for the same debtor?
Yes, you can. You will be asked to upload your documentation when uploading your case online. If you discover more documents to upload after your case has been submitted, please log in and upload via the dashboard.
The amicable collection processsystem2022-02-07T15:52:48-05:00
1. What do you mean by ‘amicable solutions’?
‘Amicable solutions’ are performed by our professional collectors have several ways to reach a settlement on your outstanding debts. This usually depends on the debtor’s situation, but settlement conversations are always conducted in a respectful manner. Settlements may result in a repayment plan or a deal proposal (i.e. a discount), if the entire amount cannot be paid at once. You can find out more about our debt collection process here.
2. How do I get updates on my case?
In order to obtain updates on your case, we will automatically update the online platform every time an action is taken on the case. When a new update is available, you can simply log in to view the status of your case. You can also message your case handler for an update via the online platform.
3. How long does it take to handle a collection case, on average?
It usually takes about 90 days to handle an amicable collection case. This can vary depending on the communication status with the debtor. If the amicable phase yields no results, we will recommend further action.
4. How does a debtor pay the debt they owe?
Collections, Inc. is authorized by you to collect the debt when you place a case with us. The debtor will be asked to make payment to the Collections.Inc bank account. We then deduct our fees before making payment to our clients.
Legal Collectionssystem2022-01-03T09:03:44-05:00
1. When do you advise taking legal action?
If the amicable collection process is not successful, our professional collector will assess the case for legal action. This is based on the debtor’s financial status, debt age, estimated cost of legal action, available documentation and chance of success.
2. What costs and timelines are associated with legal action?
We require a retainer from our clients before sending a case for a legal review. The timeline and costs of legal action will differ per debtor’s country and the size of the debt. It is your decision to proceed with legal action and thus bear its costs.
