Copyright © 2013 Tower Associates International Ltd
-
Since 2011, Tower has embarked upon “International Debt Mediation Projects” at the request of several key clients.
We see this as a major c change in the overall debt recovery market, but existing only at the top end of the value proposition.
In essence clients who previously sent all external collections to a DCA will in future be more selective and engage debt mediation for high value out standings involving negotiation, resolution and dispute, and if necessary validation of the agreed repayment program.
We are also obligated to conduct customer visits in order to facilitate the mediation, where the client thinks appropriate.
It is appreciated that the threshold level for debt mediation will vary for client to client, and that mediation can occur on a case by case basis or via annual contract and we have successfully operated with both options.
It is not anticipated that DCA work will be appropriate in the event of debt mediation failure but clear channels have already been established going through to legal recovery and potential insolvency.
Debt Mediation