An ‘Out of Court’ Solution
As pioneers in debt collection in Malta, CSB Group’s 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. Our specialist team provides Business Information & Credit Reports and a debt collection service with an “out of court” solution.
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, our experienced collectors 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 cooperate and are associated with leading debt collection agencies, business information suppliers and major export credit insurance companies.
How we Operate | ‘No Collection, No Fee’
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 our team, a demand letter and/or solicitor’s 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, all relevant details of any overdue accounts for collection are to be provided to us.
*not applicable in some countries
Filing a Claim | Requirements
- Instructions / authority to act on behalf of creditor by completing CSB’s debt claim form.
- Provision of full details of the debtor/s and a summary of how the debt was incurred.
- Amount to be recovered together with a statement of account, copy of invoices, etc. and any other relevant information.
- 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. We will then provide updates on the developments, on a regular basis. If in the opinion of CSB the debt appears to be unrecoverable, clients will be advised accordingly and will be presented with valid reasons for reaching this conclusion.
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.
Document & Process Serving
This service is backed by an efficient and speedy return of a sworn affidavit of service which is generally delivered within 24 hours. Such a service has proved invaluable for solicitors, saving them time and efforts in locating third parties when handling claims outside their jurisdiction. We also offer an international service of hand delivering legal documentation via its network of experienced investigators, ensuring fast and an efficient delivery service of documents along with correct and proper affidavits of service necessary for obtaining a judgement in Court. Our team is well-equipped to provide clients with fast and efficient document delivery within 24 hours.
I have been working with CSB for over 12 years and the words that come to my mind are trust and responsibility. CSB is an integrated part of my companies – it’s simple and safe and lets me focus on the bigger picture.
Reddo Holding Ltd. | Andreas L. Borgmann
Other Credit Risk Services
- Identification of judicial representation
- Financial statements filed with the Registry of Companies
- Status of locally registered companies
- List of directors of corporate bodies
- List of shareholders of corporate bodies
- Public searches for assets and liabilities
- Identified history of dishonoured cheques
- Past and current court cases including involved parties
- Garnishee orders, warrant of seizures & other court matters including litigation and arbitration
CSB Group is a member of FEBIS (Federation of Business Information Service). Today FEBIS has developed into a sizeable organisation comprising 60 full members involved in providing Business Information and Debt Collection services of national and international importance.