TORY CREDIT REPORTS AND COLLECTIONS LTD. TORY CREDIT REPORTS AND COLLECTIONS LTD.
Tory Credit Telephone Number  +88 - 02 -
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FAQ


Why Tory
- In Tory, we think globally and act locally.

Why should I use your company’s service? What makes your company better than other collectors I am talking to?
- Our Company is led and operated by professionals who are experienced in global accounts, blue chip clients, government-linked organizations and banks. Clients in Asia Pacific have tested and are satisfied with our standard of service for about 10 years.

Are your commission rates negotiable?
- depends on the no of cases.
- depends on the dollar value.
- depends on the aging.

What is your success rate so far?
- from 30% to 80%
- depends on the type of cases ie: still in ops, contactable & aging
- economic situation

If the settlement amount is less that the debt amount that was assigned, how will you charge?
- Only on collected amount despite the amount assigned.
Every collection agency claimed to be respectable, how different are you?
- been in business since 2001
- Global collection company
- Tory partners in about 100 countries
- Directors background
- Clientele list
- Testimonial

What is the difference between using you and the lawyers?
- Lawyers will just be sending letters and doing paperwork.
- Lawyers may not be more expensive but they charge even if there is no payment – Might not get desire results
- We send DL, call, fax, email, sms and visit.
- No collection no commission
- Recovery period shorter

Give me some good reasons why your annual fee cannot be waived. Other agents do not need such fee to get started.


- 1) We do not want to comment on other agents’ fee structure but what we know is that some charge higher than us and some lower and yet some who do not charge a fee. We charge a fee as we are not merely a postman or telephonist. We do not merely just send a letter and conduct 1 or 2 calls. We invest heavily in skip-tracing processes, site visitations, and other conclusive processes to cover all corners.

- 2) In the event that the debt cannot be collected, a closing report will be provided detailing the process and the reasons. Our clients find these independent reports especially useful to convince their management to write off the debt and also to prove to their auditors and the tax authority to get back some tax credit for the bad debt.

 

What can your company do for me which other debt collectors cannot do. What make you different from others.
- We will continue to emphasize the clients list that we have and tell them that these MNCs have dedicated collection dept. staffed by highly qualified personnel. Yet there are some steps that they either cannot or do not wish to undertake. Steps like after office hour visits to directors’ residential addresses, skip tracing processes that are not available to the public, etc. We are providing a service that is used successfully for a decade by Client satisfaction is our highest priority. We pride ourselves on maintaining a close working relationship with our clients. If you have any concerns about the service received you may contact your Client Relations Manager or your Client Service Manager.

Remittance or holdover periods, the time between collection of the debt and submission of the payment to the creditor, widely vary. Although the standard period in the industry is 30 days, Caine & Weiner’s weekly remittance period is 10 days.

We are mindful that you are in business to sell product, not to re-purchase it from your customer. Every attempt will be made to recover the amount owed to you. If the debtor is having severe financial problems and wishes to return merchandise, we let you make the decision and convey it to the debtor.

If your product is returned, our collection fee is reduced to 50% the normal fee.

No action is pursued without your authorization. If you choose not to move ahead, the file is closed and confirmation is sent to you.

Once all in-house collection measures have been exhausted, and if the debtor continues to conduct business, not having filed bankruptcy, a lawsuit may be prudent. Such activity involves the services of an outside collection attorney and additional contingent costs will apply.

Debtors placed for collection are immediately contacted by our Account Resolution Specialists. Sometimes they resent having been placed for collection and send their payment to the creditor, hoping the agency will not be compensated.

In such cases, please let us know if payment was received so that collection activity will cease. An invoice will be sent to you to cover the contingent collection fee.

Debtors sometimes do this to delay payment or to avoid contact by the agency. Once the account is placed for collection it is best to distance yourself. Please refer them immediately to our office.

Yes. We are an active partner of Tory (TCRCL), with a world-wide network of partners, with 3000 credit, collection and investigative professionals in 80+ offices globally.

We work with and without written contracts. We handle debt recovery on a contingent collection basis, no recovery, no fee. You are not obligated to place a minimum number of accounts.

have strict credit policies to farm out only the most difficult and uncollectable debts.

Companies like HP, Honeywell, Fedex, banks, etc. And these companies have strict credit policies to farm out only the most difficult and uncollectable debts.

 

Must I sign a contract to use your service?

 

We work with and without written contracts. We handle debt recovery on a contingent collection basis, no recovery, no fee. You are not obligated to place a minimum number of accounts.

 

Some of my customers are located in other countries. Do you provide international collection service?

 

Yes. We are an active partner of Tory (TCRCL), with a world-wide network of partners, with 3000 credit, collection and investigative professionals in 80+ offices globally.

 

What happens if the debtor I placed for collection contacts me and wants to work out a settlement arrangement?

 

Debtors sometimes do this to delay payment or to avoid contact by the agency. Once the account is placed for collection it is best to distance yourself. Please refer them immediately to our office.

 

Is there a collection fee if the debtor sends their payment after I’ve placed them for collection?

 

Debtors placed for collection are immediately contacted by our Account Resolution Specialists. Sometimes they resent having been placed for collection and send their payment to the creditor, hoping the agency will not be compensated.

In such cases, please let us know if payment was received so that collection activity will cease. An invoice will be sent to you to cover the contingent collection fee.

 

If you are unable to collect the account I placed, then what?

 

Once all in-house collection measures have been exhausted, and if the debtor continues to conduct business, not having filed bankruptcy, a lawsuit may be prudent. Such activity involves the services of an outside collection attorney and additional contingent costs will apply.

No action is pursued without your authorization. If you choose not to move ahead, the file is closed and confirmation is sent to you.

 

What happens if the debtor placed for collection wants to return the product I shipped, rather than remit payment?

 

We are mindful that you are in business to sell product, not to re-purchase it from your customer. Every attempt will be made to recover the amount owed to you. If the debtor is having severe financial problems and wishes to return merchandise, we let you make the decision and convey it to the debtor.

If your product is returned, our collection fee is reduced to 50% the normal fee.

 

How soon can I expect my money once the debtor remits payment to you?

 

Remittance or holdover periods, the time between collection of the debt and submission of the payment to the creditor, widely vary. Although the standard period in the industry is 30 days, Caine & Weiner’s weekly remittance period is 10 days.

 

If I am not pleased with your service what recourse do I have?

 

Client satisfaction is our highest priority. We pride ourselves on maintaining a close working relationship with our clients. If you have any concerns about the service received you may contact your Client Relations Manager or your Client Service Manager.

News
Tory credit Reports & Collections Ltd with Local commercial Banks
06 Mar 2012

Tory Credit Reports & Collections Ltd recently working with Bangladeshi local Commercial Banks. Local banks are very much helpful to get credit report from local company which is world best companies local representative.
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Tory Received Recognition
21 Feb 2010

Recently tory Credit Reports reports & Collections Ltd received country partner certificate from Global CIS ....
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