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1) Why choose GALA TRACK SDN BHD instead of other collection agencies?
Most collection agencies will mail a demand letter to your debtor's last known address and then use "telemarketer-collectors" to call your debtor. Where else GALA TRACK SDN BHD will do a thorough comprehensive "skiptracing" and background search to find a lot more information on your debtor that you have. We then use the information to make contact with your debtor directly from the location and employment information we may obtain from the debtor's family, relatives, associates, and others. We make a strong demand for full payment by experienced and professional's recovery officers, not "telemarketer-collectors".
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| 2) What is "skiptracing"?
Skiptracing is the process of getting information on your debtor, such as a current and an alternate address and telephone number, and can include obtaining a person's place of employment, names and addresses of family members, friends, or ex-spouses that may have information about the debtor, as well as locating assets such as property, bank accounts, or automobiles, and much more. This term evolved from "tracing" for "skip" debtors.
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| 3) Why GALA TRACK SDN BHD is good in skiptracing and debt collection?
The directors of GALA TRACK SDN BHD have more than 20 years of experience in debt collection and agency management experience. We know how to motivate your debtors to pay you. Our skiptracing track record is a remarkable 60% positive on developing good contact information on your debtors and with our powerful collection service method will assist our clients to recover their unpaid receivables within 30 to 90 days from assignment.
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| 4) What is the usual approach that other collection agencies use?
Most collection agencies will simply mail a generic "fill-in-the-blank" collection letters to your debtor's last known address, followed by telephone calls to your debtors that are typically generated by a computer-dialer staffed with low-paid and inexperienced "telemarketer-collectors". These agencies will spend little or no time in skiptracing to locate the debtor, assets, telephone numbers, business affiliations, etc. Their skiptracing efforts are typically limited to merely obtaining a credit report, and their phone calls usually result in weak agreements for small installment payments.
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| 5) How can I determine how my current collection agency is performing?
If you are currently using the services of a debt collection agency, compile a list of the accounts they have not recovered in the past 6 months and let GALA TRACK SDN BHD recover for you. Let us show you just how "collectable" they really are! If we recover from those debtors, than you should seriously consider assigning all your accounts to GALA TRACK SDN BHD.
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| 6) When should you use our professional collection agency services?
Accounts that are delinquent when they have not been paid in accordance with your terms. Early contacts will give you the maximum chance of return. The most effective efforts take place during the period between 30-90 days past due. Beyond 90 days, recovery percentages start dropping dramatically. If an account is delinquent, you are probably not the only creditor demanding payment. Usually the creditor that acts promptly gets paid and those that wait, hoping to save the agency fee, wind up filing a claim in the Court. Turn over the accounts to GALA TRACK SDN BHD once you feel your own reasonable collection efforts are not productive.
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| 7) What are the chances of success once the agency starts the collection process?
The chances of collection are fairly good at an early stage, but drop dramatically with the age of the account. The sooner an account is placed, the greater the likelihood of collection.
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| 8) Can a creditor collect interest on the unpaid claim?
Any agreed interest rate should be added to the account at the time of submission. If it is necessary to file suit, interest will be part of the legal demand.
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| 9) Is there any advance payment for collections?
No, there are no up front fees to collect your delinquent accounts. We work exclusively on a fixed commission on successful collection. If we don't collect we don't get paid.
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| 10) How old of a debt can you collect on?
No, there are no up front fees to collect your delinquent accounts. We work exclusively on a fixed commission on successful collection. If we don't collect we don't get paid.
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11) What is your success rate?
Whilst each individual debt is different most debts are resolved with our initial approaches by letter and phone. If the following do not apply we will usually ensure you will be paid.
• The debt is disputed
• The debtor absconds or goes into Receivership/Liquidation/Administration/Bankruptcy
• The debtor actually has no money.
• The correct identity cannot be established
In our experience it pays to take action as soon as possible, otherwise you may find that you were too late. If a debtor has only RM2,000 to pay RM20, 000 worth of bills or debt, they will usually pay the people that employ the Debt Collectors first. Don't wait until the money runs out. Very often the reason you have not been paid is because your debtor has cash flow problems and will not admit to it. They may also be waiting to see what steps you are going to take. Once you employ our services they should realize that it is in their own interest to resolve the matter and also that you are serious about recovering your money.
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