Debt Collectors Cape Town Services
Kredcor – Complimentary Services:
CREDIT APPLICATION SERVICES
- The foundation of credit control, are you sure yours is rock-solid?
- New legislation and requirements should be covered in any application
- We will streamline yours or supply you with a totally new design if necessary
- Customized to suit your needs
FORMS AND LETTERS FOR COLLECTORS
- We will assist you with the compilation of other forms and letters used in your credit management function
- E.g. acknowledgement of debt, deed of surety, letters of demand etc.
LEGAL COLLECTION SERVICES
- On your request only. We work in Association with a Panel of Attorneys.
- Please contact us for more detail.
DEBT COLLECTORS SUPPORT SERVICES
- trace alerts
- default listings
- default cheque listings
- Account monitoring (Flagging)
- Debtor Ranking Models
Credit bureau – a Definition
In the U.S., credit bureaus collect and aggregate personal information, financial data, and alternative data on individuals from a variety of sources called data furnishers with which the bureaus have a relationship. Data furnishers are typically creditors, lenders, utilities, debt collection agencies and the courts (i.e. public records) that a consumer has had a relationship or experience with. Data furnishers report their payment experience with the consumer to the credit bureaus. The data provided by the furnishers as well as collected by the bureaus are then aggregated into the credit bureau’s data repository or files. The resulting information is made available on request to customers of the credit bureau for the purposes of credit risk assessment, credit scoring or for other purposes such as employment consideration or leasing an apartment. Given the large number of consumer borrowers, these credit scores tend to be mechanistic. To simplify the analytical process for their customers, the different credit bureaus can apply a mathematicalalgorithm to provide a score the customer can use to more rapidly assess the likelihood that an individual will repay a particular debt given the frequency that other individuals in similar situations have defaulted. Most consumer welfare advocates advise individuals to review their credit reports at least once a year to ensure they are accurate.
Commercial Credit Reporting
In addition to providing credit information, these services have become authoritative sources of identity information against which people can be verified using an identity verification service and knowledge-based authentication.
Commercial credit reporting and scoring bureaus also exist, and can be used to evaluate the likelihood of a business paying creditors. Examples of commercial credit reports are the Paydex score from Dun & Bradstreet, the Experian Intelliscore, the CPR Score from Cortera, and the CIC Score and NACM National Trade Credit Report from the National Association of Credit Management. TransUnion and Equifax are also examples of commercial credit bureaus. Debt Collectors Cape Town Services