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A New Year – Do You Need a New Beginning?

Conveying Debt Collection from a Debt Collector – a Personal Perspective

By Jamila Mohammed
Al-Nabaa Commercial Services – (NCS MENA) 
International Collection Department

Four years ago I started my career with Al-Nabaa Commercial Services (NCS MENA) as an International Debt Collector. Before stepping into action, my assumptions about debt collection were that it’s all about chasing debtors and assisting them to settle their debts. Little did I know then that this small step was merely a big jump into the credit and collection industry.

Debt Collection is a world of knowledge and experience on its own. It’s a gateway into the business world, requiring intellect and professionalism. In its own blissful way, working in the international collection department of NCS MENA has allowed me to build outstanding relationships with hundreds of credit and collection stakeholders worldwide.

In connecting and working with these stakeholders, the level of commitment, trust and confidentiality we deliver must always be consistent and versatile.

Outsourcing Your Delinquent Accounts

The often asked question among many businesses, which can also be a distinctive point of confusion, has to do with whether or not bad debts need to be outsourced third party collection.

As the worldwide collection industry has evolved and become more sophisticated, the end result is that outsourcing to a third party collection agency has non only become an integral part of contributing to the bottom line of our stakeholders, but to supporting the global economy as well.

What many businesses don’t realize is that most of their efforts and time are unnecessarily spent on chasing bad debts when a simple and yet reliable resource specializing in the field of debt collection, skip tracing, investigations, etc., with integrity is available in almost all countries worldwide.

Leveraging its advantages in the Middle East and North Africa, NCS MENA’s workforce is professionally and culturally educated to effectively interact with credit and collection stakeholders worldwide. With an excellent multi-language base, extensive knowledge in credit risk management, collections, and a wide range of legal issues, NCS MENA is a leading worldwide debt collection agency.

A Customized and Personalized Approach

The Debt Collection Process is a well-defined approach, which needs to also integrate various innovative techniques. Each phase of the collection process brings new experiences and challenges to many collectors, including myself, from which new collection strategies are learned and refined.

Unfortunately, many articles and the media have often only portrayed debt collectors as being uncaring and arrogant agents who are out to collect debts without any ethical considerations. Fortunately, this is an entirely different view from the reality of how we at NCS MENA operate. One of our key steps is to always give a very thorough evaluation to each debtor’s personal financial situation.

Right from the beginning when we at NCS MENA receive new cases, the claim documents are studied and analyzed thoroughly before proceeding with any collection efforts.

As per the commitment to our clients, we ensure that regular reports are submitted in a timely manner and that any urgent concerns or requests by either the debtor or NCS MENA are always communicated to our stakeholder expeditiously.

NCS MENA is committed to maintaining confidentiality and goodwill. In addition, the trust we commit to our stakeholders at all times, by ensuring compliance of our Code of Ethics and Code of Conduct, is always in line with upholding our client’s reputation. Furthermore, we have aligned ourselves with other debt collection and legal bodies around the world that maintain the same level of care and consideration.

Keeping Yourself Prepared

As I come across new and different types of cases every day, I would like to recommend a few important points to be kept in mind before doing business with any company:

  • Know your customer; through the credit application process, identify and preserve the full identification of your customer.
  • Maintain a written record of all your transactions, all the supporting documents such as invoices, officially signed contracts, shipping documents and any written communications, especially any emails or faxes that indicate a promise to pay.
  • Tighten the credit period given to customers, particularly those in foreign countries.
  • Keep a constant level of follow-up.
  • Resolve any dispute may arises within specific time frame.

Bear in mind that the above points will not only strengthen your company’s risk management system but will tremendously assist your collection partner, should your account proceed in that direction.

Being a debt collector has opened a world of knowledge to me and hopefully I have been able to convey how vast the field of debt collection is and how local and international organizations nowadays should give careful attention to managing their credit risk that in turn will help to minimize future collection concerns.

Published on Sunday, 19th January 2014