Late Stage Collections

At VeriCred Collections, we’ve built much of our success out of our industry-leading Post Charge-off recovery strategy that continues to set the bar for how debt collection should be carried out. With more than 100 years of cumulative experience in the accounts receivable management (ARM) industry behind our executive team, we provide all of our clients with outstanding levels of service, transparency and insight that make the Business Process Outsourcing of Late Stage Collections to VeriCred truly world-class.

After 90 or more days of non-payment on arrear accounts, we reform our collections strategy to emphasise a more deliberate collections approach. As a consumer has shown a prolonged pattern of defaulting on payment, a more rigorous recovery procedure will take over where our trained consultants will noticeably shift their tone and utilise specific negotiation techniques in order to extract payment from the defaulting consumers.

A great deal of our success in collecting on Late-Stage accounts stems from the use of our prestigious debt collection software VeriNet. VeriNet ensures that our collection professionals operate through an innovative workload manager that is built-in to our software. This enables our collections professionals to timeously follow up on all manner of accounts in a meticulous and effective way. The use of our powerful dialer, with its “click-to-call” functionality, ensures that accounts are rapidly worked whilst minimising human error. VeriNet manages all aspects of Late-stage debt collection, and empowers all of our trained consultants to operate as efficiently and thoroughly as possible, which results in a considerable increase in the amount recovered.

Our incredible success with Late Stage collections comes from our combination of experience, the best industry-specific call centre coverage in South Africa, Namibia, and Botswana, and our tenacious attitude to work every single account. We ensure that each account is investigated for its potential to pay by manually working on it, rather than relying on Propensity-to-Pay scores, and other measures which fail to accurately distinguish between paying and non-paying accounts. Our systematic approach to working accounts, supported by our software platform, ensures that each account can be worked methodically and precisely to ensure optimal collection results.

If all attempts to collect a debt have been exhausted, then additional legal action may be taken at the clients request, according to our agreement. Our VeriNet software suite streamlines the legal handover process and ensures that the transition of account data is as seamless and secure as possible.

Call Centres

We have the most extensive debt collection call centre network in South Africa, and additional call centres in Botswana and Namibia.