What is Debt Collection?
Debt collection is the process of pursuing payments of money or other agreed-upon value owed to a creditor. The debtors may be individuals or businesses. An organization that specializes in debt collection is known as a collection agency or debt collector.
Top Debt Collection Companies In South Africa
Below are some of the Top Debt Collection Companies.
Snyman & Partners
Address: 1114 Park St, Hatfield, Pretoria, 0028, South Africa
Kredcor Khuluma
Address: 68 Van Riebeeck Ave, Alberton, 1450, South Africa
Phone: +27 11 907 4406
CREDIT INTEL
Address: 139 Augrabies Rd, Vorna Valley, Midrand, 1686, South Africa
Phone: +27 87 806 2800
Are debt collectors successful?
According to recent statistics, the average success rate for debt collection agencies in the United States is around 20-30%.
How do I find a good debt collector?
Ask how they handle delinquent accounts, what their success rate is, and how they deal with an angry or stubborn client who refuses to pay. You also want to know what tactics the agency employs to recover debt. Get references and check them.
How do I collect debt in South Africa?
The court can make an order that the employer deducts an amount from the debtor’s salary (emoluments attachment order) and pay it towards his debt. If the debtor has money in a savings or investment account, an application can be made whereby the bank is ordered to pay the amount directly over to the creditor.