Why Debt Management?
At Vermeulen Attorneys, we have worked hard to put together a system that incorporates sales staff, client contracts and vetting processes which will significantly decrease bad debt coming into your company.
Our audit of your current process and review of contracts will legally cover all your credit requirements, while the vetting process will root out high-risk individuals or companies that may apply for a line of credit, or make use of your services.
With the process, contracts, vetting and staff trained to look out for issues, the potential for bad debt entering your company, is minimised.
Service Breakdowns:
- Bad debt prevention– full-service offering
Vermeulen Attorneys offers a unique service, aimed specifically to prevent your company’s debtors from getting out of control.
Our aim is to assess the paperwork used and processes currently being followed by your company and to provide feedback based on these findings. Once complete we assist companies to put in place the right contracts, training of responsible staff, vetting- and debtor processes that will decrease the likelihood of bad debt in your company by 90%
- Vetting of Debtors
We are rigorous in our vetting process and make use of the information we can find via the Credit Bureau
The aim of vetting is to ensure that a creditor does not go headlong into legal action against a debtor who has no means, for instance, a company that has deregistered.
Vetting is best done before issuing a summons.
Not many attorneys offer the additional service of soft collection, however, it is a phenomenal tool! Soft collection is very effective in collecting debt from debtors that need that nudge to make payment and saves a lot on costs. The process includes letters of demand, text messages, phone calls, blacklisting, assisting to make payment arrangements, etc.
The soft collection process also gives the attorney and client a very good indication of the likelihood of recovery of the debt and whether there is a dispute by the debtor.
Hard collections are done in the event that there has been no success when going the soft collection route.
This process means that the matter is referred to the Court for adjudication, a summons is issued, and the litigation process followed. Once a judgment is obtained the sheriff may go to the debtor’s premises and attach movable assets for sale against the debts.
The hard collection includes issuing of summons, liquidation/sequestration application, application for default judgement, warrants, court appearances etc.
If the creditor does not know where the debtor resides or some crucial detail is missing, we are able to trace the relevant information before proceeding with the collection process
