A principled approach to Debt Recovery

We never forget that we are representing your organisation and that there is a very fine line between Customer & Debtor.

All of our debt collection agents, at all levels in the organisation have been subjected to pre-employment screening for their fitness & probity, and they have all undertaken extensive training on every aspect of the collection process; from business ethics to statutory requirements. All staff that deal with debtors are required to complete a comprehensive consumer and commercial debt recovery training program and demonstrate that they understand the key principles; are competent and totally familiar with the IICM Code of Conduct (of which StubbsGazette were the founding subscriber). In the course of our work, we frequently come across debt collection agencies that don't subscribe to the code: we take the time to try and convince them of the merits of the code and bring them in to line for the good of the industry.

We also respectfully suggest that the first question you ask a DCA tendering for your business is whether they have signed up to the IICM code of conduct and that you disregard and agency that is not a member of the IICM and signatory to the code.StubbsGazette also employ a dedicated Collections Operations Manager Merci Kinahan, whose primary role is to maintain standards through regular one to one coaching sessions; plus team business briefings covering legislative changes and or revisions to the code of conduct.Placing Collections in the hands of a third party collection agency does mean that you are dependent on individuals outside of your organisation to do the work but at StubbsGazette, you can rest assured that:- the work will always be done by specialists;- who are experienced professionals, - that have been properly checked for fitness and probity, - who are constantly monitored to ensure adherence to core Stubbs standards, - trained and given firm instructions to stick to.The current economic downturn is resulting in many more consumers and commercial entities getting into debt and, or accumulating arrears. For most credit granting organisations, there is a very fine red moveable line between customer and debtor. We all know how hard it can be to acquire new customers, so it’s understandable that no organisation would want to fracture a relationship with a customer who is only experiencing temporary cash flow problems.

This is where StubbsGazette can make a real difference with the insight provided by the unrivalled consumer and corporate information databases, giving us the ability to better understanding how to deal with debtors. Using the unique StubbsGazette data, in tandem with our powerful predictive scoring models, we can distinguish between the debtors/customers that are going through a temporary period of delinquency that can easily be rehabilitated and the debtors that are simply heading for insolvency. We can use a light and amicable touch when you want to maintain future relationships with your customer, we can more vigorously pursue the debtors that are heading for insolvency and complete the debt recovery before it is too late. And when called upon, we can be more conciliatory and compassionate when it is clear that the debtor is in hopeless situation.Customers/debtors who looked to be collectable just six months ago can very quickly become delinquent and irrecoverable: In the consumer sector, this can quickly occur through the combination of negative equity and redundancy; in the commercial sector, through bad debt, lack of finance, poor liquidity or over reliance on interest bearing from of capital.

When you engage StubbsGazette as your Debt Collection Partner, you are tapping into the knowledge of a combined consumer and commercial credit bureau, which can provide you with early warnings, which can help prevent you increasing your debt exposure to an individual or a business that is already hopelessly over indebted, thereby helping to prevent over indebtedness and at the same time, increase the efficient of the collection process and drive up yields.We use technology to help guide us over the best Course of action for each debt.It's difficult for most Debt Collection Agencies to respond to the challenge of providing the personal treatment that each debt requires but at Stubbs, even before we begin the collections process, the debt will have been scanned through our proprietary software to create a Stubbs Recover Index (SRI) score, which helps predict the recoverability of the debt and the most appropriate collections process.

The Stubbs Approach is based on a multi-point process that involves gaining a clear understanding of the debts being recovered and adapting the process to maximise recovery rates for a specific portfolio of debts, all underpinned by our proprietary state of the art automated recovery and collection system.We also have on screen helps and guides for our collectors that help them guarantee adherence to legislative requirements such as mortgage lenders binding code of conduct on contact frequency, or any other specific requirement of our customers.

For more information, contact us on + 3531 672 5939 or email info@stubbsgazette.ie