Debtor relationships are the most common and generally the most important relationships for business people. Proper formulation of such relationships is essential to sound and efficient business practice. Good credit control, which is an integral part of business practice, requires efficient screening of credit applicants, systematic checking, and prompt action when an account is overdue.
In trying financial times many debtors fall into arrears with their financial commitments. Whilst most of these debtors make an effort to keep up with their payments, many become delinquent and avoid phone calls and requests for them to meet their obligations. Legal City's Debtor Manager offers you an online automated service that helps you communicate with these debtors going a long way to eliminating the emotional and often confrontational aspect of this type of work without having to incur expensive legal costs.
Did you Know?
Legal City does NOT take a percentage of the debt, we only charge you for the services you use.
When the National Credit Act was introduced in 2005 it provided a framework for credit providers to manage their debtors and it set out rules and mechanisms that dictate how you should go about recovering your debts. These rules are often misinterpreted causing creditors to follow incorrect procedures and use incorrect mechanisms which may result in poor debtor relationships and can sometimes lead to legal action taken against the creditor.
We streamline these procedures in a way that strictly adheres to the National Credit Act and helps you identify what action to take and when to take it.
Legal City's Debtor Manager handles the entire debt collection process for you from sending out the first request for payment to listing the default debtor if necessary. We provide an online automated facility which eliminates the emotional and often confrontational aspect of debt collection.
Legal City's Debtor Manager is a cost effective solution that:
- Gives you online access to credit reports in real time
- Enables you to verify your customer's contact details and identity information
- Helps you manage your debtor book and streamline your collection process
- Assists in the recovery of overdue debts
- Lists your defaulting debtors with the credit bureaus
Legal City has had a long-standing relationship with TransUnion Credit Bureau (previously ITC) and we first achieved "Approved Partner" status with them in 1999.
Since becoming partners we have worked hand-in-hand with them to tailor a suite of products that can assist you in your risk management decisions. In this way we have demonstrated our capabilities and knowledge with respect to the handling of sensitive credit information and our understanding of the National Credit Act as well as its Regulations and Amendments.