"Tracewatch" collects the uncollectable
Accounts that have been passed through a number of DCAs who have failed to obtain a successful collection result are often passed back to the client who may then write the debt off. This is obviously a sub-optimal solution but in many cases, the only option left to the client.
Most of these accounts consist of gone-away cases where traditional trace related activities have failed to generate any positive result. However, our experience suggests that over a longer period of time than is normally associated with the traditional collection cycle, these debtors can surface again. As such, we have found that they may become vulnerable to a range of advanced tracing techniques performed over a longer period of time.
In response to this, Debt Managers, in association with a number of its major clients, has developed a proven methodology and collection process that delivers positive collection results on portfolios of previously uncollectible debt. We have called this collection product "Tracewatch".
Several of our major clients have passed us portfolios of accounts that had been through the collections process with a number of different DCAs, which they were going to write-off as bad debt. We load these accounts onto our debt recovery system where they begin to flow through our “Tracewatch” strategy. This strategy relies on a range of tracing techniques performed at regular intervals over a long period of time. We discuss this period of time with the client, but it is typically months, even years. In many cases, debtors that have not responded to tracing activities in the past will resurface at other addresses as they attempt to gain credit, loan or a mortgage. Our experience shows that the “Tracewatch” process is able to locate and identify these debtors. Once we have made contact with the debtor we are able to place them on a normal collection strategy and negotiate settlements or payments.
"Tracewatch" is proven to deliver outstanding results on previously uncollectible debt. If you want to discuss how "Tracewatch" can deliver results for you, then please contact us on the number above.
Any views or opinions are solely those of the author and do not necessarily represent those of the Company.
