Praesidio Group Debt Recovery Services attempts to recover the debt for you without compromise or delay.
Using Praesidio Group goes one step further than sending a letter of demand. It signals to the person who owes you money that you have decided to hand the matter over to professionals.
This could further strain your business relationship, however sometimes it may be more important to get the money you are owed.
The Debt Recovery Services (DRS) are designed to help you legally recover legitimately owed and unpaid debts, in a way that is efficient, cost effective and with minimal risk.
Our services include:
The typical Praesidio Group Debt Recovery Service works on a series of steps to ensure we maximise your financial investment with us to open the opportunity at recovering the debt owed to you.
Traditionally, our debt recovery service will start with a ‘letter of demand’ to your debtor on our letterhead, demanding that the debt is paid by a particular date or legal action may be taken.
If necessary, Praesidio Group will then issue a second, ‘final’ letter of demand or follow up with a ‘phone demand’.
If unsuccessful, you can engage Praesidio Group to further conduct one or several “field visits to make face-to-face contact with debtors” to take legal action on your behalf.
The fee you will pay is negotiated prior to any service agreed upon and or commenced.
Usually commission rates for our debt recovery services vary between 5% and 30% of the value of the debt.
Our team of expert staff rapidly assess your situation and may buy individual debts or small portfolios.
In some cases, you can sell the debt to us for a small percentage of the debt amount.
Praesidio Group will then pursue the debtor to recover part or all of the money owed. You are not entitled to any of the money we recover.
You may wish to consider this option when you have written off a debt.
Benefits of selling a debt
Debt purchasing offers many benefits, with the overriding benefits to a creditor being:
Before Praesidio Group agrees to pursue or purchase debts, we:
Qualifying debts
The types of debt include but are not limited to:
