19/05/2016
Al Noor Debt Collection Profile
Why should you outsource your debt collection?
Every company must establish a specific policy for management of their accounts receivable from the day it falls due. It is imperative that a collection plan is in place to ensure smooth cash flow to your company thus ensure stronger working capital and liquidity position and allowing you to plan future expansion of your business with ease.
In today’s economic condition, time is of essence in an effective collection process. The older the debt becomes, the lower the chances of recovery. It becomes critical to take proactive steps once a receivable age 30 to 90 days past its due date.
Uncollected debt cost businesses millions of dirham every year. Another key aspect to consider is the reputation you create in the market through a lackadaisical attitude towards your debt collection. Bad debtors are attracted towards your business and then the portfolio gets corrupted and that’s where your problem starts.
Al Noor Debt Collection
Introduction:
A professional Debt Recovery Agency specializing in ‘skip tracing’ and recovery of bad debts. We collect both consumer and commercial debts and are licensed by the government as ‘Debt Collectors’. Our highly qualified and experienced team operates at the highest standards to provide our customers with prompt and proactive service. As debt collectors, we are also mindful of future customer relationships and request payment in a way that won't offend or alienate your customers. All of our tracing and debt recovery / collection activities are undertaken in full compliance with the relevant local legislation.
Debt recovery agents put cash back into businesses thus improving the cash flow & profitability. Statistics reveal that third party debt recovery agents can prompt a debtor to settle an unpaid account, than in-house personnel.
Objective:
To provide prudent and consistent assistance to our clients to recover "Bad Debts" as quickly as possible and minimize client losses professionally and ethically.
Our Services:
• Bank / Company Products
Personal loans, credit cards, car loan, home loan,
corporate Loan
Commercial finance outstanding.
• Commercial Claims
• Business information and credit reports
• In-house Litigations
• Outsourcing collectors / Field collectors.
Recovery methods/strategies:
Skip tracing
Local Tracing
Tele-calling
Mailers
Field visits
Legal action
Immigration Check
Sending Legal Notice
Sending Legal SMS
Infrastructure:
We have state-of-the art technology systems which help us immensely in delivering our commitments .The system has an in-built follow-up module which can generate the following reports, which enhances collector productivity.
a. Daily & hourly call reports
b. Daily PTPs (Promise to pay)
c. Intensity / Coverage call report.
Our collectors are equipped with individual telephone lines and computers and currently we are handling approximately 4000/- customers with varied vintage and product range and nationalities. We are using Panasonic telephone system with the latest technological up gradations.
We have currently two offices with total manpower of 39 staff.
Our software system has the capacity to identify and maintain records for different products which are currently being handled by us – Credit cards, Personnel loans, Business Loans, Auto loans and Mortgages.
Confidentiality:
Our industry understanding ensures that security features are designed into each new development to protect sensitive data. All information and material relating to cases referred to us is confidential information and will be kept as confidential. We will provide a high standard of care and integrity protecting the confidential information to prevent any disclosure.
We will follow a code of ethics and high standard of quality while handling delinquent customers. We guarantee you an ethical and professional service.
Trained Staffs:
We use internal training programs to our dedicated team to understand the needs of this particular market.
Our clients can be sure of the pedigree of the people who will be handling and maintaining relationships with the Debtors.
Every member of our team will understand and works to our high standard of customer's service in a lawsuit, assuring continuity in approach and consistent communication. We will be using the latest technology, best people and up to date strategies to provide any solution you seek, we will make sure our people are well motivated which will help them motivate Debtors to repay.
Our goal is to achieve the highest possible return on each Dirham placed.
Litigation:
Our aim is to recover without restoring to litigation, we prefer to recover through direct contact and recommend filing legal action only when we exhaust our collection effort and when available assets can be legally attached or when there is a good chance of recovering outstanding dues owed to our clients.
As an experienced debt collection firm, we will keep our legal consultants and services up to support in recovering overdue Debts and this will be initiated if necessary, upon providing full justification of the use and the return of initiating and with your written authorization.
We are able to give you the best of both worlds: The personalized service and litigation expertise of a debt collection firm confined with the mass volume of Debt recovery techniques of a recovery unit bound by local rules and regulations.
Our Philosophy for effective collections
• Value and Speed of collections.
We place great emphasis on the value of collections, and thus spend time planning out our strategy to ensure maximum collections within a short period of time .We understand that different sectors of business has different characteristics , seasonal variations etc. And plan our strategy taking these unique features into account.
• Reports
We believe that communication is the key to a successful client/ legal firm relationship.
a) Regular Review meetings on performance in client's
premises / our office.
b) Internet access to our clients to view progress on each case.
c) Monthly status reports.
d) Consistent & regular day to day verbal contacts and e-mail
or fax
• Honesty , Integrity & Transparency
This is critical in any relationship and we believe more so in a collection agreement. Systems and processes are in place to make ensure that there is no room for manipulation or fraud. All monies collected on your behalf will be remitted to customers account with the bank within 24 hours.
• Flexibility
Today the key word in the business world in “flexibility”. Whilst an agreement will need to be signed to formalize the collection process, we are always open to suggestions and new ideas which would be mutually beneficial to both parties and bring in improved performance.
General Terms and Conditions:
The appointment hereunder is on a non-exclusive basis. Al Noor hereby expressly reserves its rights to act in recovery for other Banks / Companies and Third Parties and the Bank / Company hereby expressly reserve its right to appoint others to assist it in the recovery of any Debts not referred to Al Noor.
Al Noor may, in its discretion appoint any Third Party to assist it in its recovery activities.
Obligation of Bank / Company:
The Bank / Company shall ensure that any Debts referred to Al Noor shall be actually due and owing all records, dated and other information in respect of such Debts shall be true and accurate.
The Bank / Company shall not deal with any Debtor of any Debt referred to Al Noor.
Obligation of Al Noor:
Maintain proper systems and records to enable the Bank / Company tracking referred Debts.
Provide consistent reports to the Bank / Company in respect of referred Debts.
Fees & Charges
We work on “No Collection – No Commission” policy.
Our debt collection charges will be most competitive and is flexible based on the portfolio given for collection follow-up.
We are looking to work together to enhance your competitiveness and increase our profits and to have a bright future together.
So why should you choose Al Noor as your collection agency?
a) Al Noor will enable your organization to recover the bad debts in the most efficient manner.
b) Give you the ability to focus on your core business.
c) It gives you the convenience and cost effectiveness for collection and litigation through a single window.
d) Dedicated team provided for each bank will ensure that our shop is just an extension of your business.
e) Flexible working terms with personalized service.
Get in touch with us……….
We trust the forgoing has given an insight on what should you look for when choosing your debt collection partner. We also hope that it has convinced you to decide why Al Noor should be the best choice you could make on this regard.
Should you require any further clarification, please feel free to call
Shiekh Ahmed Abdel Rahman
Chairman
Tel :+971-6-5759666/5976555
Mobile :+971-505960390
Direct : +971-6-5759666 EXT.117
Fax :+971-6-5759993
ENG. Saad Al Dulaimy
General Manager
Tel :+971-6-5759666
Mobile : +971-552975583
Direct : +971-6-5759666 EXT.114
Fax :+971-6-5759993
Thanking You
Yours sincerely,
ENG. Saad Al Dulaimy
Chairman
