Showing posts with label Debt Collection Processes. Show all posts
Showing posts with label Debt Collection Processes. Show all posts

Thursday, 31 January 2013

ICE PACC Software

Recently, we have had an increase in the demand for our ICE PACC computer software and so, due to this influx of interest, we have decided to give an overview of this innovative system which so far has had a 100% success rate.

The International credit enforcement pro-active credit control system, or ICE PACC as it is better known as, has been designed to reduce costs that are associated with the maintenance of a large credit control and recovery department; this is achieved through allowing a single user to maintain hundreds of accounts while having the benefits of external debt recovery through I-Credit Enforcement if they so wish. The ICE PACC is fully automated once a company, invoice and the payment terms have been added to the account.

The features of the ICE PACC are:-

  • To credit check and monitor the credit file of your client or potential client, to assure that the credit given by the company does not exceed the maximum amount of credit recommended for the client. This reduces the risk of bad debt for the company and it also ensures that the client is able to contain his debt.
  • To monitor your payment history with the client and affect the credit status on ICE PACC accordingly. 
  • Free pre-legal recovery: This is included in the ICE PACC programme along with the 7 and 14 day late payment reminders on I-Credit Enforcement header paper
  • To allow you to note your interactions with customers, clients and sales prospects.
  • To allow you to uphold the integrity of your business whilst helping to recover from bad debt.
  • To alert you by email when a payment is due or overdue.
  • To provide access anytime and anywhere as long as you have internet access.
  • Basic updated terms and conditions that can be customised to your requirements and customer satisfaction forms.
  • Lists of all open and overdue orders.
  • Working with a traffic light system that shows both current credit file status and current dealings with the client's status i.e. awaiting satisfaction form, new terms not signed, review date etc.
If the need does arise, I-Credit Enforcement will be able to take over the debt recovery process on an ad-hoc basis. As all of the accounts are loaded onto our online system, passing the account or accounts for recovery to I-Credit Enforcement is quick and simple as we can receive the data straight from the system. You can request individual actions on an account, for example, we can make a single telephone call, visit the debtor in person, take legal action, send out a severe letter or instigate a 28 day recovery. 

All of this, including the 100% success rate, makes this service extremely cost effective. Unlike many other credit management and debt recovery packages, the ICE PACC does not require a large capital outlay. Set up, which includes loading the account into ICE PACC is £295 + VAT and £25.00 for any additional credits. These credits are valid for one year once used.

Our subscription based model is designed to ensure that we can tailor the package to suit all of the customers needs and all sizes of budget.

If you require any more information take a look at the following video that takes you through the software system http://www.credit-control-software.com/video.php?product=000. If you have any questions regarding ICE PACC or are interested in using this system in your business please call us on 0118 3240 338 or email us at info@icreditenforcement.com. 

Thursday, 9 August 2012

Your Debt Recovery Questions Answered

Firstly, we would like to thank you for all of your questions regarding credit management and debt. Your response has been overwhelming and so we will continue to post questions and answers for the next few weeks. If there are any questions that we have not answered on debt recovery or credit management then please don't hesitate to tweet, facebook or email us.

Q. What are the different stages of the debt recovery?

A. There are three stages of the debt recovery process which are pre-legal, legal and enforcement.

Q. What do each of these stages involve?

A. The first stage is pre-legal which takes 28 days to complete. If the creditor is owed money and the payment is overdue, a first letter is issued stating payment is required within the next 7 days. After those 7 days, if no payment has been received, a second letter is sent giving a further 7 days to make payment. After this 14 day period, if the debtor still has not made payment, a letter before action is issued giving the debtor 14 days to pay before legal action is pursued.

The second stage of this process is legal action. This is where a judgement is sort against the debtor through the courts. If it is successful and judgement is granted, then enforcement can occur. However, if it is disputed by the debtor, the case is passed to a legal team for appraisal and assistance in gaining the judgement.

The final stage is enforcement which occurs if judgement from the legal process is granted. This consists of a number of options such as enforcement through the courts via attachment of earnings or third party debt orders to name a few. The most favourable option is for the judgment to be transferred up to high court for enforcement by High Court Enforcement Officers.

Q. Why is your company different to all the others in regards to debt recovery?

A. By having our own sheriff and in house legal team, we can pride ourselves on being the only company who complete the pre-legal, legal and enforcement stages all under one roof. By offering this service, it allows the client feel confident and secure in the notion that from initial take on to enforcement, one company will be involved in the recovery of their debt.

If you have anymore questions or any experiences that you would like to share with us, contact us on any of the addresses below:-

Twitter: @icepacc
Facebook: http://facebook.com/ICreditEnforcement
Email: info@icreditenforcement.com