Created by User cb50e, last modified on Nov 10, 2022

If all means to collect was initiated by means of pre-legal collections. Launching a step toward recovery by means of court proceeding is initiated.

The strategy is only to be used on certain type of account due to the following concern;

  • Reputational risk involve

  • Collections cost

  • Documentary requirements needed for filing.

Mandatory requirements

  1. Account should be terminated

  2. Account has to have a debt of a minimum of 25K

  3. The debtor has been identified as located.

    1. Field verified (Address found and the debtor is a residence)

    2. Employer verified. (The customer is employed)

  4. The Debtor has been identified as having the means to make payments.

Process Flow

Attachments:

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Untitled Diagram.drawio (application/vnd.jgraph.mxfile)
Untitled Diagram.drawio.png (image/png)
~drawio~62f5ed9f432ef494c8ccb50e~Legal.tmp (application/vnd.jgraph.mxfile)
~drawio~62f5ed9f432ef494c8ccb50e~Legal.tmp (application/vnd.jgraph.mxfile)
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~drawio~62f5ed9f432ef494c8ccb50e~Legal.tmp (application/vnd.jgraph.mxfile)
~drawio~62f5ed9f432ef494c8ccb50e~Legal.tmp (application/vnd.jgraph.mxfile)
~drawio~62f5ed9f432ef494c8ccb50e~Legal.tmp (application/vnd.jgraph.mxfile)
~drawio~62f5ed9f432ef494c8ccb50e~Legal.tmp (application/vnd.jgraph.mxfile)
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~drawio~62f5ed9f432ef494c8ccb50e~Legal.tmp (application/vnd.jgraph.mxfile)
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~drawio~62f5ed9f432ef494c8ccb50e~Legal.tmp (application/vnd.jgraph.mxfile)
~drawio~62f5ed9f432ef494c8ccb50e~Legal.tmp (application/vnd.jgraph.mxfile)
~drawio~62f5ed9f432ef494c8ccb50e~Legal.tmp (application/vnd.jgraph.mxfile)
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Legal (application/vnd.jgraph.mxfile)
~drawio~62f5ed9f432ef494c8ccb50e~Legal.tmp (application/vnd.jgraph.mxfile)
Legal.png (image/png)