When necessary, we do a full out-of-court debt collection effort under the name of our in-house law firm at our same low contingency rates. There is no up-front cost for this effort and there is no change in our contingency rates. Our in house law office gets involved when we are not making the necessary progress while collecting under collection agency name. Often, just telling the debtor that their file will be sent to the attorney if a resolution is not reached is enough to motivate them. With some people, they just don’t take things seriously until they are contacted by an attorney. In either of these cases, our clients have the benefit of not having to experience higher costs to get an attorney involved. In addition, we don’t hesitate to escalate a file to the law office because our financial incentives are unchanged. Collection agencies that do not have an in house law office are hesitant to refer to outside attorneys because they will earn less and may have to charge their clients a higher contingency rate. Our in house law firm does not file lawsuits. Instead, we have developed a nationwide network of collection attorneys who specialize in litigation and judgment collection in their jurisdictions. Our attorneys manage these independent law firms throughout the litigation and judgment collection process. We solve over 97% of our successful cases without going to court. We never litigate without our client’s written permission.
Looking for a solution to manage debtors ?
Nordic Alliance’s Debt Recovery Process
1) Initial soft communication to assess the debtor’s willingness and ability to repay the debt
2) Send warning letter to debtor
3) Submission of debt in Infocredit Group’s unique database. This database allows our clients to screen their prospect and existing clients and suppliers in order to ensure they have as much information as possible in order to make informed decisions.
4) Alert database members, which are related to the debtor, about the negative incident. Through this process we create leverage by adding pressure to the debtor to repay the debt as it affects their creditworthiness, credit scoring and general profile as well as their related entities. It also helps in the prevention of bad debts.
5) Perform mediation procedures by our certified mediators
6) Recovery of debt via the legal route. Initial letter dispatch free of charge from a lawyer partner of our company
7) Send final legal notice of outstanding debt. Filing of court case with no additional charges except for the court fees