TYPES OF DEBT RECOVERY

Fiscal health of a company not only depends on its turnover and profits but also ontimely recovery of debts. Dealing with delinquent debtors can be taxing , timeconsuming and definitely frustrating for business heads or money lenders. We as anexperienced debt management company step in to provide our expert advise andsubtle diplomacy to solve financial recovery issues.

1. A consumer debt, is personal in nature, and pertains to a transaction entered into between an individual and a merchant.

  Types of consumer debts can be

  • Credit card debts

  • Medical debts

  • Student loandebts

  • Cell phone bills

  • Utility bills

  • Bank overdraft charges

  • Auto loans

    2. Commercial debt collection is also called business to business debt collection.It involves debt payment from one business to another. These debts are provided for services or products dealing with a variety of small or large industries.

    3. Bad debt recovery - this refers to a payment received from a loan, or receivables that is recovered in part or after it has been written off or classified as uncollectable.

    The procedure and process adopted for debt recovery in each case would be flexible depending on the nature of the claim .