Until recently, a real boom in lending reigned in the domestic market. So, according to statistics, more than 80 percent of the able-bodied citizens of our country at least once took a consumer loan for one or another need.
However, today, as a result of the economic crisis, many, for one reason or another, are in no hurry to pay debt to banks and other financial institutions. The return of such overdue loans can build a very successful collection business.
Moreover, starting a similar business in our country today is not at all difficult. So, we suggest today to learn about how to open a collection agency. We will consider the main aspects of the launch and operation of this business.
How to open a collection agency: basic
Today, for many holders of loan portfolios, the problem of non-repayment of debts by borrowers is more than relevant. And the last hope for them is turning to a collection agency for help. These firms specialize in the recovery of financial debts from both private and legal entities.
Moreover, all activities of a collection agency should be carried out exclusively on legal grounds. This point needs to be paid increased attention, since most people are confident that such organizations are involved in, as they say, “knocking out” money from debtors, resorting to blackmail, threats and even physical impact.
How do collection agencies work?
The first stage of work is the study of the credit history of the debtor. Then, detailed information about the deadbeat is collected. Then, on the basis of the data obtained, a set of measures is put in place to put pressure on the debtor, the purpose of which is to repay the loan.
Collection companies organize their work in several ways. One of them is repayment from credit organizations for a small percentage (as a rule, it is 5-10%) of outstanding debts. This is drawn up by an agreement on the transfer of debt. Collection agencies can also work in collaboration with a financial institution. In this case, the amount of remuneration is about 25-30% of the amount of debt repaid.
Thinking about how to open a collection company, we will first of all be concerned about the question of who will be our potential customers. So, most often both large and small financial organizations, trading and insurance companies, housing and communal services enterprises and mobile communication operators resort to such services.
Prospects for the development of a collection company
Thinking about how to open a collection agency, it will be useful to think about the prospects of this business. So, over time, on the basis of a company of this kind, you can begin to provide the following additional services:
- increasing the financial and legal literacy of the population of our country;
- Representation of the interests of the creditor related to issues of overdue debts in judicial, law enforcement and executive instances and bodies;
- consultation of specialists in debt collection;
- training and seminars in this area.
Legal Aspects of Activities
Thinking about starting a business in this area, you should clearly understand the rights and obligations of a collection agency. Indeed, as already mentioned, firms of this kind should work exclusively in accordance with the legislation in force in our country.So, we offer a detailed discussion of these points.
What rights does a collection agency have?
- Collect all available information, request the necessary information about the borrower from authorities, various public organizations, as well as conduct conversations with third parties (employers, neighbors, etc.).
- Organize tenders for the sale of property of the debtor, which is in the pledge.
- Take custody of the borrowed property for safekeeping. Also, the rights of collection agencies include representing the interests of the debtor on the basis of his power of attorney when concluding transactions with the disposal of items that are pledged.
- Refuse to perform work if there are violations in the terms of the contract with a credit institution or when providing it with incomplete information about the borrower.
- Assessment of solvency of individuals and legal entities in order to prevent the occurrence of debt.
- As agreed with the creditor, a collection agency can carry out debt restructuring, as well as writing off part or even all of the debt.
Responsibilities of a collection company
- Work exclusively in accordance with the current legislation of the Russian Federation.
- Providing all information held by a collection agency with a credit bureau.
Registration of a collection agency
So, if you find out all the legal aspects of doing business in this area, you can proceed to register it. However, it should be remembered that for this you must be a citizen of the Russian Federation, as well as have an economic or legal higher education. As for the legal form, LLC is best suited. When registering a company in the field of "collection activities", the OKVED should be chosen under the number 74.11 - "Activities in the field of law".
Then you will need to open a bank account into which you will need to make the authorized capital. In order to be able to do business in this area, you need to become a member self-regulatory organizations collectors, or SRO. This will give you the opportunity to become a subject of collection activity, which will be confirmed by appropriate evidence.
Staff recruitment
According to Russian law, the staff of a collection agency must consist of at least three people. When selecting personnel, be sure to remember that the success of your work will primarily depend on the professionalism of employees. The collection agency staff often includes former law enforcement officers. After all, they have rich experience in conducting operational-search measures, which is a very important factor in working with debtors.
Also, without fail, the staff of your company must include highly qualified lawyers. Specialists in this field will be able to competently understand all the nuances of property relations that arise in the course of work to return debts.
In addition, when thinking about how to open a collection agency, consider including professional psychologists in the staff. Indeed, part of the work of your company is direct communication with debtors. And if an employee can choose the right approach to a particular person and competently build relationships with him, this will only help the process of paying off debt.
Working methods
Now we offer a more detailed understanding of how collection agencies work. So, companies in this field, as a rule, use three methods: Soft-, Hard- and Legal-collection. Let us dwell on each of them.
Soft collection
This method is the first step in the work of a collection agency. After receiving the order, he enters the so-called call center. Here, the employees establish contact by all the phones of the debtor and his guarantor at their disposal.If it is not possible to establish contact, then attempts are made to communicate through work colleagues, relatives or neighbors.
At this stage, employees of the collection company often resort to mass mailing of SMS messages and letters demanding to pay off the debt. Most often this gives positive results in cases with individuals who have debts for payment of housing and communal services, telecommunications services or consumer loans for small amounts.
Hard-collection
If the first stage of debt collection attempts has not yielded positive results, as a rule, former law enforcement officers begin to work. They travel to the place of residence or work of the borrower for personal contact with him. At this stage, employees have at their disposal a fairly wide range of tools used, but all of them are legal and do not imply forceful methods of influence.
Legal- collection
This stage is a classic method of debt collection. To begin with, a claim is sent to the debtor by registered mail. At the same time, a lawsuit is being prepared. The property of the borrower, which is being seized, is also determined.
