Bad Debt Recovery Agent

Bad Debt Recovery Agent

Bad debt recovery is a payment received for a debt that was written off and considered uncollectible. The receivable may come in the form of a loan, credit line, or any other accounts receivable.

Because it generally generates a loss when it is written off, bad debt recovery usually produces income. In accounting, the bad debt recovery credits the allowance for bad debts or bad debt reserve categories and reduces the accounts receivable category in the books.

Creditors faced with delinquents account receivable should not be bogged down, putting money pursuing the debtors but engage Debt Recovery Experts. Ours is an International Debt Recovery Company that works on a succees-fee based arrangement. Pay us only when we recover your past due debts.

Matog Consulting believes that its people get the results. We focus on strict, firm and professional approach to debt recovery. We also boast of a network of attorneys, debt collectors, suppliers that help us to get job done.

Bad Debt Recovery Services

We offer Bad Debt Recovery Services to our Clients across the globe. Julian Kagan wrote” Bad debt recovery is a payment received for a debt that was written off and considered uncollectible. The receivable may come in the form of a loan, credit line, or any other accounts receivable.

Because it generally generates a loss when it is written off, bad debt recovery usually produces income. In accounting, the bad debt recovery credits the allowance for bad debts or bad debt reserve categories and reduces the accounts receivable category in the books” in www. investopedia.com

Do you have Bad Debts?

We help you receive money for a debts you have written off and never believed you could collect. Therefore, bad debt recovery will be your receiving payments for a debt you have written off.

Let’s grow your income as  we recover the bad debts you have written off in recent years with our expert debt recovery agents.

With our debt recovery efforts, collection of the debt can still happen. We don’t foreclose legal actions to recover.

We can get the debtor to enter into installment payments agreements, garnishee their assets in banks and thirdparties.

We can also obtain judgement and obtain writ of Fieri Facias to seize their collateral and sell them off to repay the debts. We could also negotiate equity stakes and generates additional income

Additional fees such as bailiff charges and attorney fees may be added to the debt.

In normal bad debt recovery situations involving litigations, additional costs of bailiffs charges, attorney fees, court fees may occur.

Bad Debt Recovery Services

We welcome you to a Debt Recovery and Collection Agency, Matog Consulting. At Matog Consulting, we are experienced Debt Recovery Agents and have helped Creditors recover bad debts or accounts receivable classified as unrecoverable by them.

Our  Bad Debt Recovery Service

Debtors/Account Receiving Outsourcing/Pre-collection Service: We help our clients with following up on the accounts receivable portfolio before it becomes delinquent. We can help them with the basic phone calls, emails and letters in a most professional and ethical manner. We save them monies as their staff will not bill them costs in travels, benefits etc.

Debt Recovery Litigation: Where the debtor fails to settle the debt, we engage our affiliate law firms to institute a debt recovery action at no cost to the Creditor save for the statutory costs of filing the case. Our work, remains, no recovery, no fees. We will appear during the trials till judgment without charging court appearance fees as we are firm in getting judgment, enforcing same and receiving our fees.

Matog Consulting have been delivering on a Debt Recovery Assignments for over 18years with Clients scattered all over the globe.

We serve clients from Nigerian, UK, African, European, Australian, Asian Markets and International Markets.

Debt Negotiation:

We also help our Clients in debt negotiation deploying experts debt recovery tactics. We maintain close contacts with them.

Attorneys, collection agents, and consultants in place. We can offer you complete debt recovery solutions where our team will handle each operation from post to pillar.

International Debt Recovery

We offer International Debt Recovery for our International Creditors whose past due portfolio is required management. Our teams capacity is world-class and in 60 Countries across the globe. The team at www.matogconsulting.com include Ex-bankers, Debt Recovery Experts, Communication experts and backed with an ample team of Affiliate Law Firm.

Commercial Debt Recovery

We offer Commercial Debt Recovery to our Clients, support their business with needed cashflow and power their growth. We get the job done. Our coverage in Nigeria covers Lagos, Port Harcourt, Abuja, Asaba, Warri, Yola, Damaturu, Owerri, Enugu, Yenagoa, etc

Frequently Asked Questions

Why should we engage Matog Consulting?

We are Professional, Result-driven, ethical, dependable, client-focused, experienced, knowledgeable in Law, Commerce and Relationship Management.

What does it cost to engage us?

No upfront fees. We work on the principle of No Recovery, No fees. Our Client only bear Cost of Filing a Matter in Court. No Court appearance fees. We believe in recovering the debt. You don’t bear unnecessary legal cost should litigation recommended as an option to recover is accepted by you.

What is the minimum no of account do you accept?

We have no minimum no of account receivable for us to recover

What is the minimum debt size?

₦1,000,000 or USD Equivalent

What type of debt do you accept?

We accept all types of debt.

How long will your pre-legal recovery efforts take?

It depends on the case and situation of the debtor. The extent to which he is willing to settle the debt, admittance of the debt, disagree with the amounts owed, the financial situation of the debtor.

What is your Debt Recovery Process?

Demand Letters, Reminders, Phone Calls, and Personal Visit on schedule, Memorandum of Settlement, Litigation & Enforcement of Judgments.

What is the Age of Debts you accept?

We accept debts not older than 6years.

Do you provide Field Services?

We hold schedule meetings at times convenient with the Debtors. No field agents.

Is Documentation needed?

Yes. We require documentation to be able to know how to negotiate with the debtor, the nature of the debt, be put in position to get the debtor to admit the debt

What type of Documentation do I need?

Invoices, Delivery Notes/Waybill, Statement of Account, Work Orders, Purchasing Order, Letters of Awards of Contracts, Agreements, Offer and Acceptance of Loans, Evidence of payments made, email correspondence, records of phone calls, SMS Chats, demand notices, admittance by the debtors of the debts , undertakings, promissory notes, dishonored cheques, etc. and also evidence that support the claim.

Do you offer Litigation Services if Pre-legal action fails to compel repayment of the debt?

Yes, we do in affiliation with a team of Legal Practitioners who work with us to deliver this service. Gainfully, no fees are paid for Court appearances.

Are collection fees legal to be added to the balance owed for both consumer and or commercial debt?

Yes, if same was incorporated in or contemplated by the Contract. Otherwise a victorious party in a litigation would be entitled only to Costs

Other Conditions?

We will be happy to accept recovery action for debtors in good financial standing and in a position to pay the debt or have assets that can be seized and auctioned in events we have to get them to pay through litigation and they failed to satisfy the judgment debt after mediation failed.

Our Engagement Process

Step 1

You contact our office either by mail, visit, phone call

Step 2

We negotiate and agree on our fees for the service

Step 3

You give us a letter of appointment as Debt Recovery Agents

Step 4

We sign the Debt Recovery Agreement

Step 5

We receive the portfolio of debtors, contacts details, phone nos, emails, addresses, statement of account, invoices, agreements Invoices, Delivery Notes/Waybill, Statement of Account, Work Orders, Purchasing Order, Letters of Awards of Contracts, Agreements, Offer and Acceptance of Loans, Evidence of payments made, email correspondence, records of phone calls, SMS Chats, demand notices, admittance by the debtors of the debts and also evidence that support the claim.

Step 6

We commence work

Step 7

We provide periodic reports, recover the debts. Debts are paid to your account.

Legal Approach to recover debts

  • Recovery through the Issuance of Writ of Summons
  • Recovery through application for Summary Judgment
  • Recovery through application for Mareva Injunction
  • Recovery through writ of execution

Our Demand Letters contain the following particulars

  • Circumstances leading to the Debt
  • The amount involved
  • The particulars of the Debtor
  • Particulars of the Client
  • Set time for payment of the debt, say 7days

 

Industry Served

  • Manufacturers
  • Service Providers
  • ICT
  • Mining
  • Oil & Gas
  • Health Care
  • Finance & Insurance
  • Real Estate
  • Professional & Technical Services
  • Utilities
  • Entertainment
  • Market
  • Construction
  • Power
  • Agriculture
  • Transport
  • Trade: Import & Exports

Nigeria Debt Recovery

Matog Consulting has helped companies and individuals in Nigeria to recover monies owed them by their customers, investments associates and the like. Ours has remained no recovery, no fees. We offer you peace of mind. Our Debt Recovery Officers will provide you optimum feedbacks on the debts and work towards your receiving the cashflows you require. Our approach can be mild, aggressive or bullish. It depends on the relationship and type of debtor we have had to contend with in the discharge of our work.

 

Work with Matog Consulting and enjoy:

Professionalism

Our fees for Bad Debt Recovery

Creditors who engages us to recover bad debts for them will need to pay fees from 15-30% depends on the nature of the debt. In some cases, where the single debt is over ₦50,000,000, we can also negotiate our fees with the Creditor because of the size of the amounts. This fees covers cost of Attorney, Court Action, Debt Recovery Specialist work but Statutory Litigation Costs payable to the State are borne by the Creditor.

Collection strategies of bad debt recovery

Bad debt recovery consists of various collecting tools. They include tracing and monitoring services, pre-legal and legal actions and court proceedings. Pre-legal methods comprise different communication actions, such as friendly reminder letters, emails, phone calls, even voicemails and fax messages.

Bad Debt Recovery Strategies deployed by Matog Consulting

Our tools include assets tracing and monitoring, pre-legal and legal actions in the Court, enforcements. At the Pre-legal stages, we write friendly letters, emails, and phone calls and hold meetings. Where our pre-legal actions fail, we proceed to the Legal Stage.

Legal Stage & Enforcement Stage:

We get our Affiliate Law Firms to pursue legal recovery options. For Corporate Debtors, we file basic legal action to recover, appointment of Receiver/Manager, Winding-Up Petition. For individuals , we file basic legal action, mareva injunction, bankruptcy.  The matter is filed at the Courts depending on the size of the debt. We approach either the Small Claims Court, Magistrate Courts, High Courts (State & Federal). We obtain judgment and follow up with enforcements: seizing debtor’s properties, auction same, garnishee proceeds, writ of possession, delivery of goods, writ of sequestration, accept installment payments etc

Ethics

We are committed to the highest levels of ethics in discharging our obligations to our clients. To achieve that level of ethics, we engage only personnel that belong to regulated professions.

Mission

We strive to maintain strong relationships with our clients through provision of topnotch debt recovery service. Our Clients includes creditors, businesses and top commercial outfits.

Feature of our Bad Debt Recovery Service

  • No recovery, no fees.
  • Litigation-Cost almost zero, only statutory filing fees
  • Professional & Ethical.
  • Periodic Reports
  • Dedicated Recovery Team/Attorney

Got a deal for us or debt requiring action upon, please call +234 8023200801 or email: enquiry@matogconsulting.com for initial discussion or send us a brief on:

 

 

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