Can we continue to contact debtors for payment once it has been handed over?
No. Please do not continue to pursue debtors for money after it has been handed over, as this could compromise the collection process in a number of ways. (Should a debtor make a direct payment to you, please notify us immediately.)
Can we hand over disputes?
No. Debt Legal does not sponsor litigation (but we try to negotiate settlement, before closing a file).
What is the minimum amount that I can hand over?
Can I accept a payment arrangement from my client once it has been handed over?
No. Please refer the client to us and we will handle the payment arrangement, to circumvent any possible future disputes.
How often do you report back to us after handing over.
Once a month a Status Report is sent to you, detailing the latest information on each debtor handed over
How often do we get our collected monies?
What is your success rate?
Success depends on many factors. It is highly dependent on information provided at handover, type of debt, debtor and industry.
Can you collect against individuals as well as businesses?
What about interest on outstanding money?
Our system collects interest. Either what you have agreed with the debtor or in accordance with that prescribed by law.
When will you "go legal" on my debtors?
Immediately, if the debtor avoids contact or defaults on any payment arrangement
Do you need supporting documentation when handing over accounts?
Only a copy of the contract, copies of unpaid invoices and the last statement showing the outstanding balance.
How do you charge your fees?
Monthly Subscription fee, plus the percentage fee (e.g. 10%) on capital and interest.
Do I have to fill out Cl excel handover spreadsheet?
Preferably, however, we do accept handovers in your own Excel or .csv format
If I write off the debt, can I still "handover"?
Absolutely! (Don't forget to claim value added tax when "writing off" debtors.) Remember, it is only "written off' in your books.
Can I get the comm which Debtlegal deducts back from the debtor?
No. Remember, Debtlegal pays all legal expenses in the "risk free" deal we offer.