Widespread lending has led to the emergence of bad debts. In order for careless borrowers to return them, banks resort to the help of special collection agencies. They repay banks up to 75 percent of outstanding loans.
Collectors, also known as debt agencies, specialize in collecting receivables and bad debts. In fact, they are intermediaries between the debtor and the creditor. As a reward for their work to repay the debt, the collectors receive a certain percentage.
The first such agencies were created in our country under the leadership of banks and dealt exclusively with their debts. Specialized collectors began to enter the open market relatively recently. In Russia, the first agency was registered in 2004.
In the early stages of debt collection, debt collectors use phone calls. When working with the debtor, they use softer arguments in comparison with the subsequent stages. At the initial stage, remote negotiations are conducted with the debtor, including sending text messages, phone calls and letters with notifications about the outstanding debt.
Collectors' actions are regulated by law and have a number of restrictions. So, when making a call to the debtor, the collector does not have the right to accept aggressive intonations of the voice and use obscene expressions. It is unacceptable to mislead the debtor and threaten him with arrest in order to force the repayment of the payment. To optimize the debt collection process, the collection agency can collect information about the debtor and analyze the information obtained from the answered calls to build subsequent negotiations.
At a later stage of debt collection, specialists are sent out. To pay off the debt, the collector searches for the borrower and meets with him. The measures applied to the debtor for the purpose of collecting the debt are compulsory. The field specialist announces the amount of the debt and indicates the penalties, explains to the debtor, pledger or guarantor the consequences of non-fulfillment of financial obligations. In addition, the agent, upon the fact of delay in payments, takes an explanatory note from the borrower, determines the date of the payment, examines the collateral or other property and draws up the corresponding act.
