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Debt Collection - An Out of Court Solution

Besides supplying Business Information & Credit Reports, CSB provides a Debt Collection service with an “out of court” solution. Our success stems from a combination of its reputation together with the personal contact made with debtors when negotiating a settlement, while its extensive database adds aids in providing the possibilities of a settlement in the shortest time possible.

National Debt Collection

We operate our National Debt Collection service for ”˜Registered Users' on a “No Collection, No Fee” basis and Collection Fees are levied on the amount of monies recovered and / or on the value of goods returned.

If an out of court action proves unsuccessful, we normally endeavour to assess the debtor's financial situation and if the debtor appears to be in funds, CSB would then advise client to consider legal proceedings, indicating approximate costs.

International Debt Collection

CSB's international service provides an almost worldwide cover. The prime advantage of using this service is the communication with debtors in their own language, which for any company trading globally, is a considerable benefit. We have built a network of debt recovery offices worldwide that are aware of the culture and business climate within their own country. This way the chances of recovery becomes more effective .

We co-operate and are associated with leading debt collection agencies, business information suppliers and major export credit insurance companies.

How we work

CSB's Debt Recovery service generally works on a "No Collection - No Fee" basis and a commission is levied on the amount of monies recovered whether paid directly or through our office. Once a file is placed with CSB a demand letter and/or solicitors letter is sent to debtor. This is then followed up by debtor being contacted via telephone, or by a field visit*. Every effort is made to settle the debt amicably without instigating legal action during the initial stages.

When debtors are in a position to pay up, assignments are normally completed at this stage unless contested. In the event debt collection efforts are not successful at first stage, an attempt to assess the debtor's financial situation and assets* is made. In the event that from such an investigation it transpires that debtor has sufficient assets and still the debtor refuses to respond to the attempts made to settle the recovery, an update is provided to creditor accordingly and advise if a legal action is recommended is given, and if so, what costs would be involved will be indicated. This will allow creditor to retain, at all times, control of the file/s and any costs that will be associated with such legal action.

To receive a quotation on a "No Collection - No Fee" basis, all relevant details of any overdue accounts for collection are to be provided to us. Direct your enquiry to our team of experienced collectors who will be pleased to assist you and discuss your needs. It is important that you act now before it is too late.

*not applicable in some countries

Requirements to File a Claim with CSB:

1. Instructions / authority to act on behalf of creditor by completing CSB's Debt Claim Form.

2. Provision of full details of the debtor/s and a summary of how the debt was incurred.

3. Amount to be recovered together with a statement of account, copy of invoices, etc. and any other relevant information.

4. Copy/s of exchange of email/s and/or letter/s requesting for payment from debtor.

On receipt of an assignment and after acknowledgment, collection procedures will commence. CSB will then provide updates on the developments, on a regular basis. If in the opinion of CSB the debt appears to be unrecoverable, client will be advised accordingly and will be presented with valid reasons for reaching this conclusion.

Address Tracing

Through our network of representative offices, we may assist clients in re-opening a channel of communication with debtors who have changed address without notification. Such service is also available on a “No Trace – No Fee” terms.

For more information about National Debt Collection, International Debt Collection, Address Tracing and Credit Risk services, contact us by email at credit.risk[at]csbgroup[dot]com and we will contact you within 24 hours to better understand your requirements.