At SLB we do not regard ourselves as being debt collectors, but will work in partnership with a business and its partners to provide a solution to debt of 90 days plus.
Our approach is to use credit reference data to monitor clients that reach 60 days plus as well as those clients that may be in a high risk category.
For commercial collections the following will be monitored:
Profiling large ledgers is also available as and when required and can assist your collections team in differentiating between ‘can’t pay’ and ‘won’t pay’ customers. For customers with a credit rating that would indicate they are likely to enter into an insolvency process in the next three to six months, the account/s would be passed to our funding team to establish whether funding could be provided to assist in trading out of their current situation, thus retaining the customer and possible future sales revenue.
As with commercial collections, SLB uses the latest technology and public information to profile a consumer portfolio and establish:
Using the above information has a proven track record in assisting collection teams to successfully collect outstanding debt.
During the process of both commercial and consumer debt collection, SLB can work in partnership with Debt Collection agencies who operate on a ‘no win no fee’ basis. Assistance can be provided to ensure you select the right agency for your business.
If every avenue has been explored to work with the debtor and they have still failed to pay, SLB will provide recommendations on accounts that could be commercially viable to litigate against, using the assets research already completed. In this instance, we would again work in partnership with lawyers that would fund the disbursements of the action and then acquire their fee either from the estate, if an order is made, or from the debtor themselves if they pay the debt at statutory demand and petition stages.