Depending on the status/age/size and type of the account, various means or approaches are used to manage the debt.
It is the responsibility of every staff at Harvest to ensure corrective means are used to approach the debtor.
There are two basic collection phases used namely our standard collections and legal collections.
All accounts follow the standard collections phase and should get paid by the completion of this phase. However, should the debt still be unpaid the debt will follow into the legal collections phase.
After registering the debt on our database we start with an intensive strategy containing the following: letters, telephone calls, faxes, personal visits, en quires interviews and any other way of personal contact. During this phase the whereabouts of the debtor will be traced, confirmed and updated.
A payment plan will be negotiated and the financial position of the debtor established. Ultimately, settlement of the account.
Should this not be the case the next phase of legal collections will follow?