Strategy & Methodology
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Strategy & Methodology
How do we do it?
Lee Tan and Partners handle all debt consolidation and recovery through the proper financial and legal channels. One of our firm’s founding principles is to aid companies in the consolidation and recovery of their debts through official legal frameworks, no matter how complicated. Here is the outline of the method we take to resolve our client’s debt issues.
Efficient Recovery
Debt Recovery Process
- First, we will place a collection account, fill in the debtors' details, and ensure that the account is verified. Then people negotiate an agreeable boundary between our clients and the debtor regarding your payment or discounts on the standing balance.
- Our next step is to contact the debtor any way we can, whether by telephone, email, message, or even a face-to-face meeting. The reason for contacting the debtor is to establish a way to settle the debt without needing to go into legal negotiations. Most of the client's cases are resolved before legal proceedings begin. If contacting the debtor is not possible, our firm will do our best to assess the financial situation and negotiate any assets that can be used to settle the debt.
- However, legal action may need to occur if the debtor does not respond to any of our attempts to contact them. If the case does move into legal proceedings, we will advise you on the appropriate steps you must take and inform you of the overall cost of the proceedings. We will do this to inform our clients of the process and so they can understand the associated costs.
- We will create and deliver a report as needed, and the report will be created twice a month, every month, or every quarter.
- If the case does move into legal action, the legal costs that our clients will incur will be minimum at best since we are experienced in the financial sector of the legal system. Since we have many cases currently in process, we understand how to navigate the system and its customs and culture to improve the rate of debt recovery.
Account Placed
Negotiation Process
Authorization
Payments
Following elaborations
Most Effective and Efficient
in Debt Recovery:
Experienced Collectors
We have maintain a consistent high rate of recovery due to our highly experienced and well trained staffs. Our collectors will use various collection tactics to ensure account is recovered and convince your customer it is in their best interest to pay the outstanding amounts.
Comprehensive Reports
Detail reports will be emailed to you in an Excel format by each collector on a regular basis or at least in every thirty days. If you have more than one employee placing accounts, separate accounts can be established for each employee.
Quality Legal Services
Should an account is unable to recover through normal means, we will work closely with an Attorney/Legal Advisor who specializes in commercial and banking court laws. We will ensure you will get the best possible representation available and most importantly getting the account collected.
Flexible Approach
Lee Tan & Partners maintains a client profile that identifies the tenor of the collection tactics you want us to use on your accounts.
Our standard objective is to collect your accounts while maintaining your relationship with your customer. However, each contact becomes more forceful as circumstances warrant.
Personalised Services
A dedicated staff will be assigned to your account whom will follow up regularly with you from the beginning till the end of the whole recovery case.
