What’s the difference between Debt Collectors and Auctioneers?
Debt Collectors recover money through various approaches including the legal procedures (filing in court) meanwhile Auctioneers are authorized to attach property for sale in order to recover the outstanding amount after obtaining a court warrant.
Are you Debt Collectors?
We are debt managers engaged in the collection process and not just collecting the debt. We manage the debt, creditor and debtor in resolving the debt unlike traditional debt collectors who are more interested in collecting the money alone.
What titles do you prefer to be called and why?
We prefer titles like Debt Managers, Debt Specialist, Consumer Advisor, Consumer Collection Specialist, Revenue Officer/ Accountant, Debt Management Accountant, Credit Advisor Etc. so as to avoid the negativity that surrounds collection.
How do I get to know about your training programs?
Open training programs are indicated on the website and other tailored ones are organized based on demand. However you can call us on +256 414-237620/ +256 772 419219
How Relevant Are Your Consultancy and Advisory Services?
Our programs are practical and case-based aimed at equipping you to achieve results. We are mindful of the increasing debt and have introduced proactive solutions in order to avoid delinquencies. You will agree that credit and debt are now crucial concerns for any business hence the need to continuously consult so as to avoid bad debt.
What do you mean by special training or advisory programs?
We have realized that some debts accrue as a result of failures from other departments despite efforts by the rest of the team. We offer short sessions of between 30mins-1hour to management or its staff based on findings of particular or peculiar challenges that we address. This is a very cost effective program that greatly improves cash flows and also builds capacity of the team as well. Charges range from 1-5people: 100,000, 1-8people: 120,000, 1-15people: 150,000, 1-35: 250,000.
If entrusted or appointed by a company/ organization to collect their debts, what would you do incase the debtor wants to pay cash and not cheque?
We want our clients to build trust and confidence in us over a period of time due to prevailing dishonesty in the industry. We usually work as a team with our client and for all cash payments and we also advise the debtor the details (names/ contact) of who is collecting the cash. This has worked very well for us and the clients.
What are your contacts?
Mobiles: +256 772 419 219 /+256 701 419 219.
What are your fees for your programs?
This vary but the minimum fee for collections range between 10-20%, open trainings are charged per participant, in house training is negotiable, advisory is determined by the number of employees per session. Call us for further discussion.
Do you harass, threaten or abuse debtors.
Our collection is governed by the international code of ethics under the Fair Debt Collection Practice Act (FDCPA) and under FDCPA it’s an offence to abuse, harass or threaten. We professionally manage the entire process and seek for legal redress or advise where necessary.
Why don’t debtors pay and how can you make them pay?
Recovery is a process and the reasons for non remittances, slow payment or causes of default vary from debtor to debtor. As experienced debt managers, we have handled various types of debtors with different strategies aimed at getting paid. We will get you paid or advice accordingly after assessing the debt and debtor.
Why do most companies fear handing over their debtors to Debt Collectors?
Due to the unprofessional collection methods and approaches within the credit and debt industry hence it is very important for any organization to identify professional debt collectors or third party collection agencies whose collection process is professional and practical. Debt Collection Center acts as a mediator between the collector, creditor and debtor.
What Types of Debts do you collect or Recover?
Ideally any debt-personal, consumer, commercial, subscription, taxes or any form of accruals.
What services do you offer on a day to day basis?
Our services include training of staff or collection team in credit and debt management and collection skills, consultancy and advisory services in business solutions, debt collection and money recovery among others.
Which one is the best debt collection firm in Uganda?
Any professional and practicing firm whose prime or core priority is to manage your debts and debtors with an ultimate goal of successful collection qualify to be termed as efficient. In Uganda collections are done by lawyers, auctioneers, money lenders and employees of those involved in the lending industry and only a few third party firms are engaged in recovery alone.
Are debt collection agencies allowed to take bribes or kickbacks from debtors?
Any professional collection agency is not allowed to take any form of bribe or kick backs and no employee should is supposed to do that. THIRD PARTY COLLECTORS ARE ONLY ENTITLED TO THEIR AGREED COMMISSION FEE OR COLLECTION PERCENTAGE PAYABLE BY THE CLIENT. The owed or if agreed upon the fees owing for that collection of stipulated.