Alan and Steiner is a debt collection company. Here are some effective tips from our collection and credit team on how to collect your money from your debtors.
These are steps you can take to get back your money;
Step 1 Contact the debtor and send them a gentle reminder. Your first contact should be in a gentle form. Preferably via WhatsApp. Say that you just wanted to remind him that the debt has not been paid. It is best to give them a date of when you would like to have the money return back. (Give at least 14 days period).
Here is a sample message you can use; Hey, Mr Tan, this is <mention your name here>. Remember the Loan of $5,000 you took from me 3 months ago on <date>? It has been sometime now. I would like to know when you will be paying me back. I hope you can pay me by this <mention the date you want your money back>.
This method acts as a documentation to the loan especially if he/she did not sign an IOU with you.
Step 2 If that didn't work, you can increase the pressure abit but avoid being hostile at this stage. Using the same whatsapp, Remind the person that the time is up from the previous date. You want to be paid immediately. And if he has problems in paying him, he can counter proposed an alternative payment.
Step 3 By now, you will have at least gotten some documentation/proof on your loan to the debtor. Hopefully he/she replies. But even if they did not replied, silence means they accepted the fact that they owe you the money.
In this whats app, tell him that you need the money back urgently. And you will be visiting him at his office or home to discuss about the debt. Also inform him that if this still doesn't work, you plan to take legal action. By constantly contacting him at different times of the day via Whats app, by phone, by letter, through e-mail, and maybe even by knocking on his door. Your persistence will pay off.
Collecting money is not fun, but you can be assertive without being threatening, and civil without being ineffective. Remember it is your money, so there is no reason to feel reluctant about using bold tactics to collect it.
Hire a Professional to help you Where the amount is much bigger, you will need more resources and professionals to help you. You may want to consider appointing a debt collection agency. Getting a debt collection agency to represent you shows that you are serious about collecting your debt. You debtor will immediately understand your seriousness about your intentions in getting your money back.
Alan & Steiner Debt Recovery Pte Ltd.
We are no 1 debt collection agency in Singapore.
We have a 99% success rate guaranteed
We have over 25 years experience in debt collection.