Yashjyoti Debt Consultancy Pvt. Ltd.

Our Services

We offer a gamut of services related to debt collection activities, i.e., from the amicable settlement method stage to the litigation stage. Mostly, we do the basic activity of telecalling. Our teams of telecallers rely on persuasion, polite but assertive language, and persistent efforts. We also have a large number of field-level operatives who personally call on the defaulting borrower, reason with them, and persuade them to start repayment. We have specialists who trace the addresses of missing and absconding borrowers by using sophisticated techniques and tools, no matter where the debtor is located across the globe. Whenever it becomes imperative that the charged assets be taken into possession, we do give "seizure" service to our clients by tracing these assets, taking them into possession, keeping them secured and safe, and eventually disposing of them at an optimum price. We are also accredited by some banks to take action under the "SARFAESI" act.

It gives us immense pleasure to introduce ourselves as a service provider in the financial and corporate sectors. We provide the following services:

DEBT RECOVERY/COLLECTION SERVICES

Our main objective is to act as an extension of your credit department, to enhance your collection process, and to achieve the highest possible return on each account you place. We provide both first-party recovery and collection services and third-party recovery and collection services. All Our Debt Recovery specialists are DRA trained with PCC and possess good skills and knowledge to understand both the financial and legal aspects of commercial transactions and clients businesses. We maintain continuous communication with our clients and work to resolve receivable concerns while preserving the positive relationships you have with them.

We can effectively handle accounts of any size and in any stage of delinquency, from a few days to many months, across Maharashtra.

Recovery Methods

1. Pre-litigation Method
2. Litigation Method

Benefits

Our debt recovery and collection clients benefit from:

Expert account handling by experienced Attorney averaging 20 years of commercial recovery /collection agency experience
Strong internal audit mechanism and alignment with all banks' and NBF’s audit requisites.
Understand collection dynamics and tune accordingly as per the bank's requirements in termsof risk and debt management.

Dedicated Teams

We assign dedicated teams of recovery specialist attorneys or Commerce graduates to our clients. Our Recovery Specialists assigned to a particular client account will work exclusively on their portfolio. This level of dedication ensures that claims are given customized attention based on the standards set forth with our clients to assure world-class service.

Our Global Third Party Collections Process, along with the management rules and treatment plans set with our client, will determine the collection strategy put into practice. We deploy our Recovery specialists based upon country location, time zone, balance threshold, and follow up date.

Our Alignment to RBI guidelines:

We are strongly aligned with the Model Policy on Collection of dues and Repossession of security devised under RBI Guidelines.

Introduction

Since the entire debt collection policy of the bank is built around dignity and respect for customers, we will not follow policies that are unduly coercive in the collection of dues.
We understand that the policy is built on courtesy, fair treatment and persuasion. Therefore, we also believe in following fair practices regarding the collection of dues and repossession of security, fostering customer confidence and long-term relationships. Since the repayment schedule for any loan sanctioned by the bank will be fixed, taking into account the paying capacity and Cash flow pattern of the borrower, we also explain to the customer upfront the method of interest calculation and how the Equated Monthly Installments (EMI) or payments through any other mode of repayment will be allocated towards interest and principal due.
We educate customers to adhere to the agreed-upon repayment schedule and encourage them to approach the bank for assistance and guidance in case of genuine difficulty in meeting repayment obligations. We reiterate to the customer that the Bank's Security Repossession Policy aims to recover dues in the event of default and is not intended to whimsically deprive the customer of their property.
We also inform the customer that the set policy recognizes fairness and transparency in repossession, evaluation and realization of security. All the practices adopted by us for follow-up and recovery of dues and repossession of security will be in accordance with the law.

General Guidelines

All members of the staff or any person authorized to represent the bank in collection and/or security repossession have been instructed to follow the guidelines mentioned below:

The customer will be contacted at their chosen place, and if no place is specific, at their residence. If the customer is unavailable at their residence, contact will be made at their place of business /occupation.
We will always respect the privacy of our clients' borrowers.
We are committed to ensuring that all written and verbal communication with borrowers will be in simple business language, and we will adopt civil manners when interacting with borrowers, as directed by the client.
Normally, our authorized bank representatives will contact the borrower between 8:00 a.m. and 7:00 p.m., unless the special circumstances of their business or occupation require us to contact them at a different time.
Borrowers’ requests to avoid calls at a particular time or place will be honored as far as possible.
We will document the efforts made for the recovery of dues, and copies of communications sent to customers, if any, will be kept on record.
We will provide all assistance to resolve disputes or differences regarding dues in a mutually acceptable and orderly manner.
Inappropriate occasions such as bereavement in the family or other calamitous occasions will be avoided for making calls/visits to collect dues.

Giving notice to borrowers

While telephonic reminders or visits by the bank's representatives to the borrowers' place of residence will be used as loan follow-up measures, we will not initiate any legal or other recovery measures, including repossession of security, unless authorized by the bank with proper legal notice. We will follow all procedures required by law for recovery/repossession of security.

Repossession of security

Repossession of security, if any, will be done in a fair and transparent manner, keeping in mind that our aim is only the recovery of dues and not to deprive the borrower of the property. The recovery process through repossession of security will involve repossession, evaluation of security, and maintenance of security through appropriate means. All these will be carried out according to the set guidelines by the bank.
Repossession will only be done after issuing the notice as detailed above. Due process of law will be followed when taking retention of the property. We take all reasonable care to ensure the safety and security of the property after taking custody, in the ordinary course of business.

Valuation and Sale of property

Valuation and sale of repossessed property will be in accordance with the bank's policy and will be carried out as per the law and in a fair and transparent manner. We will facilitate the bank to recover the balance due, if any, after the sale of the property. Any excess amount obtained from the sale of the property will be returned to the borrower after meeting all related expenses, provided the bank does not have any other claims against the customer.

Opportunity for the Borrower to Take Back the Security

As indicated earlier in the policy document, we will facilitate the bank in repossession of security only for the purpose of realizing its dues as a last resort and not with the intention of depriving the borrower of the property. We also educate the customer by informing them that the bank will be willing to consider handing over possession of the property to the borrower at any time after repossession and before concluding the sale transaction of the property, provided the bank dues are cleared in full.

Recovery Methods :

AMICABLE SETTLEMENT METHODS

This method includes all recovery efforts that are required before reaching the stage of the amicable settlement method through negotiation and mediation.
Initially, a friendly approach is used, gradually transitioning to a legal approach if necessary. The goal is to pressure and instill fear in defaulting debtors, encouraging them to engage in a positive settlement. This method is implemented when debtors do not respond amicably.

The recovery activities involved in this process include:

Regular Email Escalation: Sending escalated emails in a specific format with the client's consent
Regular Telephonic Follow-Up: Consistently contacting debtors via phone
Personal Visit: physically visiting the debtor's location
Regular Follow-Up through Letters and Legal Notices: Employing letters and legal notices shared by the client to maintain communication
Liaising with the Local Police Station: cooperating with the local police using legal documentation provided by the client

DELINQUENCY PREVENTION SOLUTION

Our Delinquency Prevention Solution focuses on assisting clients with proactive strategies to prevent debts from becoming delinquent. Traditionally, collections have been reactive, waiting for customers to miss payment due dates before taking action. However, forward-thinking creditors are transitioning to a proactive approach that identifies customers at risk of delinquency and targets actions accordingly.

Our Delinquency Prevention Services includes the following steps :

Skip Tracing and Verification Process

Dedicated skip-tracing specialists help locate customers who have changed addresses or contact information.
Activities include verifying business and residential addresses, retrieving customer application forms, conducting personal interviews and field verifications, verifying business licenses and registrations, evaluating financial statements, checking trade and personal references, reviewing credit bureau reports, conducting net searches, and reviewing financial and general profiles.

Benefits for clients using our delinquency prevention services include:

Encouraging Payments ahead of potential delinquency
Timely payments lead to improved cash flow and profits.
Better customer relationships.
Lower cost of collection.
Significant reduction of bad debts.
Proactive management of high-risk debt.
Improved regulatory compliance.

By implementing these preventive measures, clients can avoid delinquency, enhance their financial performance, and maintain positive relationships with their customers.

Services