Types of collections according to the collection channel
Posted: Mon Dec 23, 2024 6:54 am
What are the types of collections ? There are different ways to classify the types of collections, for example, one of them is based on whether the payment is made before or after acquiring the good or service. Thus, when this payment is made before, we find an advance collection , also called preventive collection ; on the other hand, when it is made after, it is a financing. In this last case, it is the person or entity that provides the financing that is responsible for establishing the term and the other conditions of the payment, for example, if there are interests, charges for late payment, etc.
In this post, we tell you more about what portfolio collection is and what the collection classification is .
What will you find in this text?
Collections according to the management method
Formal collection
Judicial collection
Extrajudicial collection
According to collection stages
Preventive collection
Administrative collection
Extrajudicial collection
Judicial collection
According to customer contact
Direct collection
Indirect collection
According to the type of collection channel
Telephone collections
By text message
By e-mail
By WhatsApp
By traditional messaging
Types of portfolio collection , according to management
Among the types of debt collection that exist there are also formal, judicial buy whatsapp mobile number list extrajudicial debt collections. They are differentiated by the way they are managed :
1. Formal collection
In this case, it is a matter of executing a collection strategy internally , that is, by the collection department of the creditor company itself. In this sense, the company uses its own resources and means.
5-Collect more and improve your collection management
2. Judicial collection
Judicial collection , sometimes also called legal collection , occurs when the collection stage has passed 90 days of delay. In this situation, the creditor can go to the Judiciary to have the debtor settle the debt. In this case, it is not the collection staff who handles judicial collection, but it is necessary to have a legal team.
As expected, legal collection channels cover more complex areas. Even the way in which judicial collection messages are prepared must be carefully reviewed by specialized lawyers, since they must comply with the specific legal regulations for this type of process.
3. Extrajudicial collection
In this case, the debtor is expected to settle the debt without resorting to legal means. For this purpose, one can choose, for example, to hire a debt collection company . In this process, the aim is to reach an agreement with the debtor, using means of collection that are legal in the country.
Extrajudicial collection, example :
An example of extrajudicial debt collection in Peru could be an agreement in which the creditor company offers the debtor repayment plans. In this way, the company that lent the money can recover it, although it grants the client a deferral for the payment of the outstanding installments.
According to collection stages
In addition to the above, there may also be types of collection depending on the time of delay in payment of the debt. Thus, for example, there are the following 4 phases of collection :
1. Preventive collection
This is also known as early collection and is carried out before the portfolio falls into arrears with its payments. In this case, we could even say that we carry out preventive collection if we send reminders to clients on the day of the deadline when they can do so.
2. Administrative collection
As for administrative collection , in relation to the delay time of a debt, it is required for the collection process to begin when the debt has expired. However, it has not yet reached a critical point.
In this post, we tell you more about what portfolio collection is and what the collection classification is .
What will you find in this text?
Collections according to the management method
Formal collection
Judicial collection
Extrajudicial collection
According to collection stages
Preventive collection
Administrative collection
Extrajudicial collection
Judicial collection
According to customer contact
Direct collection
Indirect collection
According to the type of collection channel
Telephone collections
By text message
By e-mail
By WhatsApp
By traditional messaging
Types of portfolio collection , according to management
Among the types of debt collection that exist there are also formal, judicial buy whatsapp mobile number list extrajudicial debt collections. They are differentiated by the way they are managed :
1. Formal collection
In this case, it is a matter of executing a collection strategy internally , that is, by the collection department of the creditor company itself. In this sense, the company uses its own resources and means.
5-Collect more and improve your collection management
2. Judicial collection
Judicial collection , sometimes also called legal collection , occurs when the collection stage has passed 90 days of delay. In this situation, the creditor can go to the Judiciary to have the debtor settle the debt. In this case, it is not the collection staff who handles judicial collection, but it is necessary to have a legal team.
As expected, legal collection channels cover more complex areas. Even the way in which judicial collection messages are prepared must be carefully reviewed by specialized lawyers, since they must comply with the specific legal regulations for this type of process.
3. Extrajudicial collection
In this case, the debtor is expected to settle the debt without resorting to legal means. For this purpose, one can choose, for example, to hire a debt collection company . In this process, the aim is to reach an agreement with the debtor, using means of collection that are legal in the country.
Extrajudicial collection, example :
An example of extrajudicial debt collection in Peru could be an agreement in which the creditor company offers the debtor repayment plans. In this way, the company that lent the money can recover it, although it grants the client a deferral for the payment of the outstanding installments.
According to collection stages
In addition to the above, there may also be types of collection depending on the time of delay in payment of the debt. Thus, for example, there are the following 4 phases of collection :
1. Preventive collection
This is also known as early collection and is carried out before the portfolio falls into arrears with its payments. In this case, we could even say that we carry out preventive collection if we send reminders to clients on the day of the deadline when they can do so.
2. Administrative collection
As for administrative collection , in relation to the delay time of a debt, it is required for the collection process to begin when the debt has expired. However, it has not yet reached a critical point.