How does the Debtor Settlement and Creditor Billing work?

When a debt is due from the debtor, they are offered the option to settle it through two channels. Success-based recovery fees are applicable, and the billing method depends on the recovery or collection channel.

1. The debtor settles the debt directly with the creditor :

The amount collected is paid in full to the creditor. An invoice for collection costs is generated and sent to the creditor by email. Collection fees are debited automatically.

2. The debtor settles the debt via Respaid:

The amount collected is paid to the creditor, and deducted from the recovery or collection fees.

All details of the recovery or collection fees, as well as the available options, are displayed and communicated to the creditor when they implement a receivable table for recovery. There are no hidden fees. The creditor accepts the mandate before the collection of the A/R file is transmitted. The creditor accepts the mandate before collection of the submitted receivable table.