Debt Collection 101

What is Debt Collection

A debt collector is a registered professional who is hired to collect unpaid debt. They are governed by the National Debt Collection Act 114 of 1998 in South Africa. Debt collectors also need to be registered with the Debt Collectors Council.

What Does a Debt Collector Do?

Each debt collection company offers different services. Some of these services are:

  • Maintain Debtors
  • Maintain Clients
  • Debt transactions
  • Various reporting, at management level
  • Monthly clientele reports and payment audits
  • Databank support services

Legally, debt collectors may:

  • Repossess collateral i.e. a car or a house, in order to pay the debt if the money can’t be paid.
  • Sell these repossessed assets at a public auction, where the proceeds go to the outstanding debt amount.
  • Sue the person in debt to recover what they owe by serving them with a court summons.
  • Ask the court to garnish a salary (withhold it until the debt can be paid)
  • Blacklist people who haven’t paid their debts so that they may not incur more credit on anything

Finding a Debt Collection Company

Depending on what you need, there are many South African debt collection companies to choose from. One of the top of these is Malan, Pauley and Partners (Pty) Ltd.

Contact them today to enquire about advice on debt collecting and see whether they have the helping hands that you’re looking for.

For more quality services and products in South Africa, visit our directory.

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