Debt Management business expansion
In the last two years ToTal Risk has been developing a debt management strategy based on the needs of some utility companies who have historically had ongoing issues with a particular group of debtors. The outcome was that some $24M in historic debt was allocated to ToTal Risk and we have now established successful processes around the location of debtors and the collection of monies owed. A key to our success is a structured field visit program utilising staff with high interpersonal skills that can take control of any situation and lead the consumer to a payment solution that will work for their circumstances.
We are now using these processes for retail, financial and insurance sector clients.
In particular we find we are dealing with a group of people who only respond to face to face communications for the following reasons:
- Habitual avoidance
- Mental health issues
- A range of addiction issues
- Literacy issues
- English is the second language
- Culturally prefer face to face contact – Pacific and Maori
- Lack competency to ‘manage their life’
We believe this group represents 18 to 20 % of the population.
The collection of debt is noticeably enhanced by the use of our debt management processes.
ToTal Risk operates throughout New Zealand
Level 2, 202 Thorndon Quay, Wellington
Call Us on 0800 876 477
Email ToTal Risk