If desired, a notice of default is sent first (via email and in the post); your debtor then has five days to pay the outstanding amount to you or to WIS. Notice is given of collection costs and interest, should payment not be made within those five days.

Should payment not be made within the stated period, then an amicable settlement is initiated. A warning is sent first, with the outstanding amount increased by collection costs and interest. Your debtor has three workdays to pay the outstanding amount to you or to WIS. Then, if payment remains outstanding, your debtor is contacted by phone.

As a credit rating agency we know what the chances of success are for a collection procedure. All business debtors (B2B) are immediately checked for creditworthiness by means of a credit report, so that we know within 15 days what the prospects of success are for an amicable settlement. The advantage of this for you is that we are often the first to contact your debtor, maximising the chance that something can still be recovered. After all, until bankruptcy takes place the rule is: first come, first served.

WIS has an extra means of exerting pressure

Most collection agencies only have one means of exerting pressure when payment is outstanding: the legal collection process. WIS has an extra means at its disposal, namely the threat of lowering your debtor’s credit rating. That is often very effective with business debtors.

No chance of recovery, no costs for you!

Should your debtor become bankrupt, or if there is no chance of recovery, then we close the file free of cost for you.

How B2B collection works

  1. WIS receives the relevant documents from you and sends a warning or notice of default within one workday.
  2. WIS assesses the financial status of your debtor and the chance of success.
  3. If necessary WIS contacts your debtor by phone.
  4. If appropriate, WIS agrees a payment scheme with your debtor (always in consultation with you).
  5. WIS monitors payment, or the payments in the case of a payment scheme. If a payment is not received on time WIS immediately sends another warning, and may contact the debtor by phone to find out why payment was not made.
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