We address this letter to you with a view of introducing our firm and the services that we render. We are a well established and reputable firm, practicing as such in Brooklyn, Pretoria. As a highly motivated firm, delivering our work with diligence, honesty and integrity, we understand the importance of finalizing a matter without delay and give high regard to feedback and speedy service delivery
. We specialize in debt collection and are we therefore of the opinion that our suggested manner of proceedings will be beneficial to you as well as to our firm. We suggest that the collection of your outstanding accounts be as follows:
1. You hand over an account for collection within 3 months from the debt being incurred. The longer a debt is outstanding, the more unwilling the debtor becomes to pay and the more difficult it becomes to trace a debtor, if need be.
2. In the instances where collection of the outstanding debt has been successfulor partially successfulwe will deduct 30% of the payments received. This amount is deducted from the full amount due to you and is not collected from the debtor.
3. In instances where we are unable to collect the outstanding debt from the debtor, no account will be rendered to you.
4. The 30% fee will be deducted from the payment to be made to you and a net amount will be paid over to you.
5. When payments are received a “capital, interest first and fees last” approach will be adopted. This means that moneys received will firstly be utilized towards the reduction of the capital amount and interest. If the capital and interest have been settled and paid to you, we will then debit further payments towards our fees.
6. Any other outstanding fees which we may be entitled to and for which the debtor is liable will be collected by ourselves from the debtor after we have reconciled to you.
7. Should the debtor make a payment directly to you, we will then also be entitled to 30% of the total payment made to you as well as our collection commission. You are requested to inform our offices immediately should the debtor make a direct payment at your offices.
8. When collecting an outstanding account from a debtor and it becomes clear that same will not be successful, we will notify you upon which we will then close our file. Our aim is to collect the total capital and interest due to you and this cannot be achieved if time is wasted and disbursements are incurred on a matter where it appears that we will be unsuccessful.
9. Reports will be forwarded to you on a monthly basis in the form of a spreadsheet.
10. Payments will be made on a monthly basis at the end of each month. We trust that the above will be acceptable to you and that our firm can assist you in collecting your outstanding accounts and bad debts and that a long business relationship will develop between our practices.
