Collect Worldwide, LLC provides a variety of professional commercial debt recovery-related services to companies worldwide. These services include:

PROFESSIONAL INTERNATIONAL DEBT RESOLUTION/RECOVERY

Through our network of highly qualified, trained and experienced collectors, Collect Worldwide is able to immediately make a positive impact on your debt recovery problems. Debtor companies that are placed with us for collections are contacted within 24 hours of the time of the placement, most of them within the same day depending on global time standard.

Every effort is made to match a collector with capabilities targeted to the specific account placed. This process takes into account such factors as the nationality and language of the debtor company, cultural factors that may be utilized by the collector to maximize chances that the account will be collected, and prior experience and success rate each collector has in that country and in and similar past assignments.

All collectors we employ are seasoned and experienced professionals in the international debt recovery collection field. Our veteran staff will be matched to your company’s collection demands, allowing for a “best fit” in order to maximize debt recovery.

For cases in which the specific language of the debtor company is not one spoken by our collectors, we employ professional translation services, rendering the “language barrier” that may handicap other agencies a non-factor. This allows for “real time” collections where other companies may grind to a halt.

Our collectors are trained to rapidly make contact with the person in the debtor company who has the authority to resolve the debt problem- the qualified “Decision-Maker”. The collector is trained to then probe for answers as to why the debt remains unpaid- whether it be a problem or dispute with the product/service, cash-flow issues being experienced by the debtor company, poor or incomplete internal records on the part of he debtor (or the Client, including Purchase Orders or Proofs of Delivery); or any other of myriad factors and complications causing the debt to remain outstanding.

Depending on the reason for the non-payment, the collector then works to remove or resolve that factor, and/or to secure a promise for payment that takes into consideration any contributing obstacles that may be involved. The collector checks the debtor’s stated reasons for non-payment for validity. Our collectors are trained to consistently work with the debtor to resolve the problem, secure a promise of timely payment, and ensure that the debtor company honors its obligations to you.


MEDIATION

Oftentimes, the client and the debtor have been speaking “PAST”, rather than “WITH” one another regarding the unpaid debt. Positions may have become hardened and sensitivities injured. Our collectors are trained to recognize this situation, and act as mediators in getting the parties to once again speak, via our services, to the specific issue of the unpaid debt and the reasons for it. Our collectors have access to legal counsel with the law firm, who can advise the collectors on any legal issues or questions that are impeding the recovery of the unpaid debt. The collector and the law firm act as a mediator in resolving both the legal and non-legal questions and issues affecting the payment of the debt, concentrated toward the goal of securing payment of that debt.

AUDIT (SOFT) APPROACH DEBT RECOVERY

Many times, the goal of the client will be not only to get the unpaid debt recovered, but to do so in a way that is as non-abrasive to the debtor company as is possible. This may arise because the Client still wants to do business with the debtor or because the Client and the debtor have mutual personal or business/industry contacts or affiliations that the Client does not want to disrupt. The “Audit” approach is the method by which 1) The unpaid money is recovered, while at the same time 2) The Debtor is presented with the least-aggressive debt recovery methods possible consistent with successfully collecting the debt.

The Law Firm’s collectors are trained in this soft approach. The collectors characterize their activities as a cameral audit function and not merely as a “collection” matter when speaking to the debtor. The debtor is informed that the Client company has retained us to 1) Find out if there are any problems with the product or service supplied, 2) Resolve any such problems, and 3) Secure from the debtor the date for payment of the unpaid invoice(s)- all done in a spirit of professionalism and cooperation.

The goal of this approach is to recover the unpaid debt, while at the same time preserving the relationship between the Client and the debtor. If it becomes clear that these twin goals cannot be simultaneously achieved, by reason of the debtor refusing to respond to a “soft” approach, the Client retains the option at any time to direct us to drop the “soft” approach and pursue a more-intensive strategy.

SKIP TRACING

Frequently, a principal of the debtor company will have personally guaranteed the debt. If the debtor company is no longer in business, and there is no current information available from the Client as to the whereabouts of the principal/guarantor, it may be necessary for the law firm to perform a “skip trace”, in order to discover where the guarantor is located. This can be a challenging assignment, particularly in international debt recovery cases. This is a service that is provided by Collect Worldwide as part of the fee arrangement originally agreed to: there is no additional fee for this service. Results are on a best-efforts basis, and if successful, the collections efforts proceed against the guarantor and the guarantor’s personal assets.

ASSET/LIABILITY INVESTIGATIONS

Many times, debtors will cite or use cash-flow problems as their reason for non-payment of our Clients’ invoices. Sometimes these claims are legitimate- sometimes they are unsupportable. Our collectors are trained in a variety of methods to determine as accurately and as quickly as possible the validity of the debtor company’s claims of cash flow problems, and to tailor and predicate the subsequent debt recovery efforts according to the results of that determination. If a debtor company is still in business, but no longer purchasing goods or services from our client, the debtor company is undoubtedly purchasing the good and services from another supplier.

Information on the debtor company uncovered as a result of the Asset/Liability Investigation may include bank relationships, supplier relationships and other debtor company creditors, pendant contracts with private or governmental entities, actual operating results and financial statements for the debtor company, and additional types of information, some or all of which may ultimately prove to be the information which leads to the successful recovery of the unpaid debt.

LEGAL REFERRAL SERVICES

Not all accounts are collected without legal action. Where the legal issues remain in dispute, and the parties cannot arrive at a resolution themselves, it may be necessary to involve a court of law. This is NOT a desired result, particularly in international debt recovery situations, where the particulars and costs of bringing a lawsuit in a foreign country may be somewhat of an unknown. We make every effort to collect each account WITHOUT having to resort to legal action.

If legal action becomes necessary, Collect Worldwide, in conjunction with David A. Hays, PLC will explain to you the inherent reasons for this action. Generally it is because the debtor has refused to “come to the table” with any type of reasonable proposal or resolution of the problem. In such case, we will make an internal assessment of the likelihood of a resolution of a lawsuit in our Clients’ favor. If we feel legal action is justified, we will make that recommendation to our client, along with an estimate of what the out-of-pocket costs would be to pursue such a lawsuit. If the client wishes to proceed with a lawsuit, we will make a best-efforts attempt to find an attorney within the local jurisdiction who will take the lawsuit on a contingency basis.

In all cases, the client has the last and final decision on whether a lawsuit is initiated, and is required to do so in writing.

DOMESTIC (USA) COMMERCIAL ACCOUNTS RECEIVABLES RECOVERY

While Collect World Wide has unequalled qualifications and successful experience in the arena of INTERNATIONAL debt recovery, those same qualifications and experience are likewise well-suited to the successful recovery of delinquent debt domestically in the United States - and we consistently recover domestic commercial debt for our clients nation-wide and with enviable success.

PROCESS/PROCEDURE CONSULTATIONS

Sometimes a company’s internal procedures or processes operate to contribute to higher-than-desired debt write-offs, or to situations where the debts become delinquent in the first place. Examples of this are credit-granting policies or procedures that may not have been reviewed in some time, and which may not be optimal in today’s market and business environment. Our representatives have the ability to 1) Consult with our Clients’ credit department and personnel, 2) Make positive recommendations on how these internal processes and procedures might be revisited and amended to reduce credit risk, 3) Optimize the potential for successful recovery of accounts that do become delinquent, and 4) Maximize the number of dollars and percentage of dollars that our clients recover from the debt recovery strategy.

OTHER

On occasion, Collect Worldwide, LLC will purchase a debt or portfolio of debts, and thereafter operate as principal to collect such debts. In other occasions, we will take an assignment of such debt, with the agreement that we will pursue litigation in a foreign country at our sole cost and expense, with the provision that if we are successful in such litigation we will pay a portion of the net proceeds of such litigation with the Assignor of the debt. These proposals will be considered on an individual basis.