As recovery agents, we work for a bank or a financial institution, engaged in recovering debts from defaulting customers across different kinds of loans, credit cards, auto loans, mortgages, etc.
We don’t work for banks or loan companies alone, any business or service where customers are required to make payments for goods or services received and fail to do so, in spite of several reminders or notices. For example, hospitals, retail stores, utility companies, etc are all services which use us to collect money on long-overdue payments. Other responsibilities we undertake are:
- Trace customers who’ve moved away from recorded locations, without any forwarding address or trace left behind. This activity is known as “skip-tracing”.
- For customers who are unable to make payments, we are authorized to offer some amount of waivers or easy debt repayment plans.
- Maintaining detailed records of calls/visits made, payments or promises to make payments, new contact details, etc.