We, the Amanaat Recovery Solution Has Come Up To Solve Your Debt Collection Issu

Posted by Christian Silmaro on December 27th, 2017

In any business cash flow, debt collection is an important part. Often the businessmen hire a third party to collect this money because sometimes debt collection becomes more costly than the debt itself.

Debt is categorized according to the bucket

When we are given this task or the businessmen hire us for the debt collection, we categorized the debt, according to the bucket, whether it is a hard bucket collection or a soft bucket collection. This is called outsourcing debt collection. We have our teams who are engaged in for collecting the debts. Their collection methods are based on the type of debt and they use the debtor’s past payment history so that it becomes easier for them to collect it. They divided the debts into categories such as hard buckets and soft buckets. The soft bucket collection includes the most unsecured debts.

Our company categorizes the clients according to their past history  

The debt collection company like us the Amanaat Recovery Solutions gives importance to the past records of the clients and the teams divided them according to the category. In the first category they include people who get occasionally behind on payments. In category two they include all those people who are often behind on monthly payments. In category three they include all those people who are consistently lag behind the payment and become defaulted on some credit cards or other loans. We go to that extent that if we find the client is not paying the money or their instalments on time or they have crossed ninety days delinquency, we are bound to take the legal action against the party.

Distribution of buckets

 We distribute the buckets in different categories such as current bucket for thirty days, delinquency bucket for (1)60 days, delinquency bucket number (2) for 90 days, the number (3) delinquency bucket for 120 days etc. We skip the cases where we do not get any record of the customers. We retrieve the original documents from the data house. We accept the cheque as a negotiable instrument. It may be possible that during the process of circulation, the check may be stolen, lost or the signature of the payee may be done by some other person for endorsing it. Under these circumstances, there is every possibility that the cheque would go into the wrong hands.

Annual operating plan

We have an annual operating plan

We have different management departments such as payment propensity modes, allocation strategy, in process analytics; rolls forward modes, performance management.

We have key performance indicator. Another key parameter is the state of business report, progressive loss report, repossession report, progressive collection efficiency report and current to x report. These all key parameters are either on monthly basis or weekly or daily basis.