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What is Debt Recovery?

Debt collection


20 JULY 2020

 

Handing problem debts over to a debt collection agency can be a quick and easy way to recover them. You can use a debt collection agency regularly or on a one-off basis.

Alternatively, you can use an online debtor tracing tool to trace absconded debtors in order to improve your accounts receivable.


Finding the best debt collection agency in South Africa can be challenging

 

Outsourcing debt collection to a debt collection agency can be a less confrontational way of chasing outstanding debt than taking court action, but can be a costly exercise. Debt recovery and debt collection are similar terms with one small difference of whom is who is trying to retrieve a debt.

 

Inspirit Data Analystic Service (IDAS) offer a least costly approach to tracing a debtor by providing access to a tool that can provide up-to-date contact information for your most hard-to-locate debtors.

This dynamic and robust debtor tracing application is frequently refreshes its extensive databases of consumer and commercial information, enabling you to locate elusive debtors, make contact and collect unpaid debt.


IDAS not only has designed this tool for debtor tracing, but also for consumer and commercial verification.


Confirm a persons or company’s information before issuing credit or being scammed by syndicates who provide falsified information.

As a first option, don’t pay high debtor tracing fees, but rather try and gain access to additional information from multiple data points that allows you to make contact with the debtor in order to recover debt.

IDAS offer two type of payment options which are:

·      Monthly license fee designed for high volume of tracing

·      Credit options – pay for a batch of searched

·      Individual search -pay per report.


For more information, contact us on at hello@inspirit.co.za or visit us on www.inspiritdata.co.za

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External Debt Collector (EDC)



24 June 202


Consumers are increasingly relying on credit from multiple credit providers to simply get by, and External Debt Collector (EDC) companies are receiving increased higher referral volumes. According to StatsSA, reports show that the debt-to-income ratios of customers at debt counsellors were at an all-time high in the fourth quarter of 2019. In addition, as a result of Covid19, it goes without saying that those numbers will be on the rise.


Credit institutions are very aware of debt collection challenges and are exploring the means to enhance their arrears management efficiency and effectiveness by either outsourcing to external debt collectors or looking to move into digital collections and harness the value of their data for the purpose of meaningful insight from predictive analytics. 


Companies with debt collections try to minimise these losses by recouping some of the debt by either making use of internal or external debt collection strategies, or a combination of the two. Debtors that are in higher recency bands are usually handed to external debt collectors. Also those debtors have proven unresponsive to internal collection efforts.


Inspirit Data Analytics Services - IDAS has built 3 fundamental innovative functionalities into our debtor tracing tool that will lift collection efforts viz:


·      Merging data sources from multiple data points into collections that provides a deeper view of the debtor;

·      Innovative use of full text searching and statistical modelling techniques that traces debtors than traditional methods;

·      Innovative ways to enhance collection strategies using scorecards;


We suggest that organisations issuing credit should have access to IDAS as an online debtor tracing and consumer verification tool that will aid in the debt collection process as a first option, before outsourcing to external debt collectors.


Try our more affordable debt collection option.


IDAS: Debt recovery made simple.


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Debt Collection made Simple

18 June 2020


Even in cases where debtors have absconded, debt collection can still be possible with the right debt collection tools. With extensive years of experience with providing debt collection solutions to Debt Collectors in South Africa, debt collection and the many techniques involved in tracing debtors to collect debt can be seamless.


The debt collection process involves tracing and investigation a debtors information in order to make contact. Therefore it is vital that the relevant debtor information is available to ensure accuracy and effectiveness when attempting to engage with the debtor.


Tracking and tracing tools like Inspirit Data Analytics Services (IDAS) has made it easier to track down the elusive debtor.

The online Debtor Tracing tool is an in house verification and debtor tracing tool that will provide you with the necessary broad spectrum contact details.


Why broad, because our Online Debtor Tracing Tool doesn’t just provide you with basic contact details like other tracing tools, rather we provide you, the debt collector, information including:

·     Employment and company details

·     Directorship information

·     Property Ownership

·     Deeds office information

·     Marital and deceased status

·     LSM

·     Contact Score

·     Risk score indicating indebtedness


IDAS Online debtor tracing solution also provides you with a global search bar, a one of its kind in a debtors tracing tool that allows combination search inputs e.g. Joe James Cape Town.


In addition, IDAS debtor tracing tool provides dashboards as well as reports so that you as the administrator can manage search history.


Choose the Number 1 debtor trace tool designed for debt collectors.

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Debtor Tracing Tool for Debt Collectors and Private Investigators

20 October 2019


Are you a Debt Collector or Private Investigator looking for an Online Debtor Tracing tool?

Searching for people, find a person by cell phone number or find people by name with the aim to track and trace bad payers and trace non-payers.


Gain access to an array of information that no other Trace Tool offers.

± Fixed fee per month or pay per search

± No long terms contract required – month to month subscription

± No software installation required

± No Hidden costs

± Pay one fee for access to all data categories relating to an individual as opposed to specific fees for specific data categories.

± Person lookup Search Bar, like Google that allows partial data inputs like First name and consumer address

± Data categories include:

  • Person Identification


  • Contact and Address information


  • Deeds Information


  • Property Contact Detail


  • Company info plus contact details


  • Directorship


  • Adverse indicators


  • Employment information


  • Marital and deceased status


  • LSM and Contact Score



  • Relationship Links


IDAS is a Person Search Engine that is designed to search for someone with basic search inputs like ID number, name and Surname, cell phone number and address. It is the fastest and most sophisticated search tool in looking for a person.

 

This tool will accelerate your tracing capabilities.


Contact IDAS for more information 

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