Are you a business owner struggling to recover the funds for products that customers have purchased? Have you given them a warning after a grace period? However, they still avoid these notices to repay the money. These are common situations that almost every business experience daily. As a fact, it affects the sales and the trust between the two parties. For that matter, these owners hire private collectors to take over the recovery procedures. These services have been recognized by many, however, there are also many other stories regarding misuse of authority too. Therefore, it’s important to be aware of what practices are accepted and not.
This in turn, would be useful for individuals, during the hiring process. As, you wouldn’t want to hinder the clientele relation due to malpractice. With that said, there are many incidents where the debtors have been violated of his or her privacy and confidentiality of details. Therefore, here are some of the practices that are prohibited and worth being aware of:
• Any form of threatening or violence is not acceptable at any point, from the first notice of repayment reminder. For instance, these include verbal threats, physical harm and so on. These actions could lead to legal cases that the client might file against the business and the Singapore debt collection service.
• The agency is not allowed to publish any of the client information that the business provides. Even if the debtors refuse or delay to respond back to the notices. However, such details could only be submitted to the credit bureau when necessary.
• The debt collecting firm is not authorized to use false names and harass the customer via telephone calls. This violates the rights of the individual. They are only permitted to make a call, if and when the customer doesn’t respond to the written notices.
• Moreover, a debt collection agency is prohibited from claiming to be a representative of a lawyer or official from the credit bureau. Furthermore, this doesn’t allow the firm to falsely accuse the customer of amounts that are beyond the actual repayment and penalty charges.
• These professionals are not allowed to send documents that represent legal forms such as court orders, government, etc. Such false statements and delivery of documents is not legal for these agencies to follow and practice.
It’s not easy to trust over confidential details of debtors to these agencies to recover the money. Therefore, you should be extremely cautious during the hiring process. As a fact, you wouldn’t be able to have to face charges of clients due to mistreatment by these agencies. Given that, here are several pointers to consider, when you’re planning outsource debt recovery professionals.