Debt Register has been created to support a business to business environment. We have no current intention to enter the consumer segment.
We are a cloud solution and as such, no software download is required. Our portal is accessed via any web browser.
Our platform enables you to charge slow paying debtors interest, compensation, and reasonable recovery charges by enforcing the EU adopted Directive 2011/7/EU on combating late payment in commercial transactions. This is referred to in the United Kingdom as ‘The Late Payment of Commercial Debts Act’, more details of which can be found here. https://ec.europa.eu/growth/smes/sme-strategy/late-payment_en Recovering these additional charges, enables you to offset against the charge for our service.
Debt Register creates intelligent leverage by empowering your team with a true deliverable consequence, getting you paid within 7 days of your data upload. If your debtor fails to address their arrears within this time, then we report notification of their default to our panel of leading Global Reporting Partners – a consequence rarely ignored by actively trading entities, who will not want their credit rating negatively affected.
Debt Register recognizes the time zone within which the debtor operates and issues the first communication accordingly, to ensure maximum debtor engagement. This first communication will therefore be immediate, or autonomously deferred to the most effective local time.
Having a deliverable consequence, swiftly enables your collections team to be efficient. By defining an upcoming deadline, we reduce over chasing of an account, and maximize the efficiency of your collections team.
Very little needs to change. Whilst not essential, we would recommend you replace your current threat of 3rd party escalation, with our highly effective pre-chase paragraph which will be provided to you post registration.
Yes. Debt Register empowers your team with a global reaching consequence, which removes any jurisdictional complications that may normally hinder the collection of your overseas debt. We also help with language communications, and currently facilitate French, Spanish, German Italian, and English communications.
Jurisdiction hiders a legal chase, as your jurisdiction clause determines where legal action should be initiated.
Normally this is set in your terms and would be your own countries legal system. If your debtor operates in a country which speaks a different language, you are obliged to professionally translate your legal claim into your debtor’s language, adding considerably to the cost of your claim. Additionally, depending on the county of your debtor, the judgment may be completely ineffective if no legal treaty exists between the two countries involved, in effect meaning that you will need to start your legal claim again. All resulting in considerable cost and time being expended.
Debt Register empowers your team with a Global reaching consequence unbound by jurisdiction, so no delays, at considerably less cost.
The dynamic forms which captures queries can only be completed once by any of the debtor contacts. Once completed this cannot be edited by any of the debtor contacts. Note that all client contacts privy to the account, are updated once the formal response is submitted by the debtor.
Yes. If the debtor makes payment, or you decide for commercial reasons to remove your notification of default, we can stop reporting the default to our credit reporting partners.
Our system issues smart emails, which know when a debtor reads an email. This process captures the device that they read the email on, and the associated IP address. This confirmation meets the requirement of our credit reporting partners, enabling us to report their debt. To avoid this reporting, the debtor needs to clear their arrears.
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We know your time is valuable, so we’ll keep it quick. Let us show you exactly how Debt Register gets you paid in 7 days.