Debt Management business expansion

On September 20, 2011

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.