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.