Debt Collection Services
Magellan Solutions is the best debt collection agency that prevents bad debts. Our bill collector improves your cash flow and completes your AR collections by streamlining your debt collection process. Furthermore, we want to maintain a positive and healthy relationship with your customers by integrating customer service best practices into your debt collection.
As one of the top BPO providers, we comply with ISO 27001 to ensure the security and protection of your sensitive data with our debt management outsourced service.
Pay On Time!
What Is A Variation Of Credit Collection Services?
Collection agencies work closely with credit bureaus and lenders to try to retrieve delinquent funds.
We are one of the most reputable collection agencies. Our trained collectors use letters and phone calls to contact delinquent borrowers. Even as a small debt collection agency, we strive to convince your debtors to repay what they owe. If a debt recovery collection agency, can’t reach the debtor with the contact information provided by the original creditor, they may turn to other options. One is using computer software and private investigators. As part of the legal collection services, they can also conduct searches for a debtor’s assets, such as bank and brokerage accounts, to determine a debtor’s ability to repay. Through debt collection companies like us, collectors may report delinquent debts to credit bureaus to encourage consumers to pay since delinquent debts can do serious damage to a consumer’s credit score. Our debt recovery services rely on the debtor to pay. We cannot seize a paycheck or reach into a bank account, even if the routing and account numbers are known unless a judgment is obtained.
This simply means that the court orders a debtor to repay a certain amount to a particular creditor. To achieve this, we, as legal collection services providers, must take the debtor to court before the statute of limitations runs out and win a judgment.
We don't want to see you getting stressed over inevitable money matters.
Let Magellan Solutions help you back up your feet as you grow your business into an even bigger industry. We will make sure that you pay your dues in time . By the end of the day, you don't have to worry whether you have a loan that could break what you have made. Furthermore, we will also make sure that you take what you should take from your debtors. We know how important money is for businesses that are still growing. So of course gaining back what you lent shall be returned fully. You can also rest assured that everything we do is abiding by the law. We will never want to taint your name or ours by collecting in unprofessional ways.
Our Current Benchmarks For Debt Collection Services
Top 7 Services We Help With
Credit card, Medical, Automobile loans, Personal loans, Business, Student loans, and unpaid bills.
Core Market Focus
United States, Australia, Europe, and Asia
Flexible Pricing Option for SMEs
We accept packaged, results-based, and other business models
Skip-tracing Services
Sometimes the debtor might be difficult to find, either because of an address change or because a false one has been given. As the first step of the debt collection process is considered the track & trace method.
Multichannel Communication
These methods are proceeded by legal and ethical means, as debt collection agencies strive to preserve creditor’s reputation and good name. This includes but is not limited to phone, email, fax, and letter contact.
Online Portal Access
You can submit new delinquent accounts, check the status of accounts in collections and run reports to analyze the effectiveness of the collection agency's strategies.
Our Core Markets
United States
Australia
Europe
Asia
What Is Credit Management Services?
We are one of the reputable collection agencies that help lenders or creditors to recover funds that are past due, or from accounts that are in default. Often, we get clients who made many failed attempts to collect their receivables. Here at Magellan Solutions, even as a small debt collection agency, we have had enough knowledge and training for the past 17 years in the industry. We will work closely with the credit bureaus and lenders to try to retrieve delinquent funds and become your most trusted debt collection agency in the Philippines.
Our hired bill collector can only call between certain hours. They're allowed to call several times a day but are forbidden from calling repeatedly to annoy, abuse, or harass. If we are able to obtain a work phone number, they may call you at your workplace unless the employer doesn't approve of those calls. Collectors may show up at a house to collect and that is considered legal. Furthermore, we may even call your personal number if you gave the number to your creditor to contact you.
The Consumer Financial Protection Bureau’s latest rules allow debt collectors to text or email consumers as long as clear opt-out instructions are included.
The following are the common debt management tasks we have been known for:
- Researching and evaluating clients' creditworthiness.
- Creating credit scoring models to predict risks.
- Approving or rejecting loan requests, based on credibility and potential revenues and losses.
What Debt Collecting Service
There are different variations of debts that we might owe. One of it is personal debts or loans used for personal consumption rather than those incurred by businesses or through government activities. Credit card debt, student loans, auto loans, mortgages, and payday loans are all examples of consumer debt. Its two kinds are revolving debt, which is paid monthly and may have a variable rate. The second is the non-revolving debt, paid at a fixed rate.
Can You Collect A Debt When Services Were Not Rendered?
Yes, debt collection is still possible.
We can reconstruct an agreement in a way to show that the contract binds the parties and that they wanted a binding contract. Except for a signature or written agreement, the parties have agreed on all of the terms necessary for a valid contract. The facts state there is an agreement and supports the existence of a valid contract. That is a contract implied in fact.
Does Credit Collection Services Own Their Debt?
Debt buyers in general keep everything they collect. Because they took the risk of purchasing the debt from the original creditor and even paying in advance to the original creditor, this debt becomes their own and any amounts collected are theirs.
This is also true for our debt collectors to some extent. They get paid when they recover a delinquent debt. The more they recover, the more they earn.
Can A Private Citizen Use A Debt Collecting Service?
Yes. B2B and B2C clients are welcome to avail of our debt collection services. We will adjust to your needs according to the contract signed between your party and ours. Furthermore, the security level for any database gathered while in partnership is the same level as those of our business partners. For us, everyone is a business partner.
Secure Your Money And Outsource Your Debt Collecting Services With Us
We know money is of the essence. It is the main reason why you have a top contending business amongst SMEs. And with money assured under your name, the growth of your business is sure to fall into place.
1. Let's talk about your need to collect fees.
Business is business. Whether your partners are long-time friends, it is still a must to get paid. With our collectors, we can help you to smoothly process collecting from those indept to you.
2. Tell us of your existing loans and debts.
It's part of a start up and growing business to take out loans. Expanding is not an easy feat. It takes time, effort, and a bunch of cash. Even then, the preferred increase is not always sure. There is definitely an increase business-wise, but it is not always what you expect. Thus you might take out a loan to meet the outcome you want. As a business ourselves, we understand that it is important to keep track of these records so as not to see what you have built be sold off to someone else.
3. We will help in securing the money in the bag.
As an end-to-end full-service call center service and bpo outsourcing firm, we keep our clients by ensuring them that they take and receive what is due. Following the laws, we maintain our professional approach and avoid any illegal activities that may put any of the included parties to face each other in court.
