Since EFFRS is now elevated to the high-end SME, Commercial and Corporate Debt Remedial Portfolio’s of UAE Bank Partners, other Creditor Partners and Client Debtors either locally located or who exited the UAE a no of years ago and not just restricted to Retail (Private) Portfolio’s, it has enabled our Team to steer away from the historic reputation of ‘Collections & Recoveries Departments’, thus avoiding the victimization and bad habits metered out to Debtor Clients.
Operating in this new segment, means that we are not overburdened with thousands of Bank Allocations, as the no’s are greatly reduced, but we are able to work smarter, under less strain, pressure, anxiety to yield a target that takes a huge amount of effort to generate a minimal income, versus, operating in this new segment, where the income of one case resolved, far surpasses the outcome of Retail and therefore places the Company in a healthier position.
We have also then positively contributed to Bank and other Creditors Asset Recovery and Losses, so it is a Win-Win for all Parties, including the Debtor Client. There are however a ‘Soft-Skill Tools and Techniques’, that EFFRS implemented from inception, which is highly effective to serve the Remedial Segment, regardless of Portfolio Types.
Clients want to be treated with respect, humanely, feel that the Creditor is affording them the opportunity to repay their Debt, as per their current affordability, because everyone will make the effort to maintain a commitment, when treated well. There are exceptions, with Debtor Clients who are under-handed and manipulative to avoid repaying their debt, but there are far more of them willing, than unwilling. The perception that they are treated well, is the key to overcoming this problem. Still today, Debtor Clients are victimized, regardless of new ongoing Regulations, where those actions are not reported, due to Emotional Fear, but they should be highlighted to the Executive Management, who should really be aware of the activity on the ground, especially with Collection & Recovery Agencies, as we see this too often.
Once Teams are trained on Authentic Remedial processes and policies, they will not exist in the workplace with all forms of pressure that gives them anxiety and all other negative emotions, that actually blocks their performance, as there is no flow. Then they go home, transpose those emotions on their family, it worsens the situations and tomorrow morning, they arrive back at the office, with more negativity than what they left with the previous day. This is the reality, when you operate from a space of negativity, nothing can flow and they need to be trained and mentored on what methodologies work the best.
There is absolutely no great impression created to announce that ‘You are from the Remediation Department’, when you still meter out Collections & Recoveries negative treatment to Debtor Clients, how does that even make sense? Life operates on a key principle ‘Cause and Effect’, so if they are negative, that is what the output will be and so it should be logically understood, that the old historic methodologies are redundant, so much more Debts can be recovered, with the right attitude!
We are therefore available to facilitate this Training to all Remedial and Collections & Recovery Teams, because it is imperative to understand that your methods could be wrong and we can assist with our vast Debt Remedial experience.