Respaid

When a debt is due from the debtor, they are offered the possibility to settle it through three channels.

Regardless of the collection channel selected by the debtor, Respaid keeps the creditor informed in real time. 

A notification is sent by email with details of the collection.

This is sent to the e-mail address of the user who created the account, and to team members if they are affiliated with Respaid.

The email notification specifies the payment method (installment plan, full recovery or collection, etc.), the amount, the debtor's identity, and the destination of the funds (to the creditor or via Respaid).

 after the notification to send any observations to Respaid by simply replying to the email or contacting their account manager.

After this period, the case will be archived. This means that it is no longer possible to contact the debtor and obtain any proof of payment or other evidence. The debt collection or recovery fees will then become due, and the automatic collection of these fees will take place.

For settled debts with Respaid through payment links or installment plans.

In addition to the collection notification, a weekly interim balance in excel format is sent by email.

Recovered case, Notification, Details of the recovery, Archived case, Collection or recovery fees due

How is the creditor notified of a recovered case?

The fees associated with the Standard plan (which does not include monthly fees) are clearly stated and communicated to the customer before the amicable recovery process.

Success-based collection or recovery fees are calculated based on the age of the debt as follows, plus fixed lawyer fees :

- 45 days to 3 months: 15.9% of amount collected

- 3 months to 6 months: 20.7% of amount recovered

- 6 months to 12 months: 25.8% of amount recovered

-12 months to 18 months: 27.6% of amount collected

- more than 18 months: 29.3% of amount collected

Lawyer's fixed fee: Standard plan rate 31,67 $ excluding VAT)

The option of Lawyer Notification via SMS/Voice Message is offered during the implementation of each debt table.

👉 Standard Plan Rate: 3,5% of the amount collected.

The Email Verification option is offered during the implementation of each debt table.

👉 Standard Plan Rate: 1,5% of the amount collected.

 If the debtor pays by credit card, the rate is 2.26% of the amount paid

The Payment Installment option is offered to the debtor for any debt exceeding $199.

Standard Plan Rate: 10% of the amount collected

excluding taxes for debts < $1000 and 2.17% excluding taxes of the remaining amount beyond that.

In the event of cancellation of an amicable debt collection case for reasons directly related to the creditor (e.g., ineligible debt), lawyers' fees will be due for each case in respect of costs and time incurred.

For each start of amicable collection or recovery , the creditor certifies :

Inform Respaid immediately if the debt has been paid directly to Respaid, so that collection costs can be deducted automatically. Otherwise, the lawyer procedure will take its course with your debtor.

That personal information such as invoice(s), identity and contact details of debtors be used for amicable communication (emails, SMS and voice messages | depending on the options chosen) conducted by the lawyer.

Success-based collection, Collection or recovery fees, Fixed fees, Age of the debt, Options, Other fees

How are success-based collection fees calculated?

All your collaborators can be notified of a successful collection, provided you 

Once all the steps have been completed, an email containing a password will be sent to each of your collaborators so that they can log on to the interface in question.

As a result, you'll receive the same notifications and have access to the same information, including the status of a collection.

Collaborator notification, Successful recovery, Collection status, Log on to the interface

Which member of my team is notified in the case of a successful recovery?

When a debt is due from the debtor, they are offered the option to settle it through 

 Success-based recovery fees are applicable, and the billing method depends on the recovery or collection channel.

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.

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. 

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. 

Debtor settlement, Creditor billing, Retrocession slip, Collection or recovery fees, Automatic debiting of fees

How does the Debtor Settlement and Creditor Billing work?

When a debt is owed by the debtor, the latter is offered the possibility to settle it through 

In the event of a successful collection, collection or recovery fees are charged to the creditor. These fees are success-based and depend on the age of the invoice.

All the details of these fees are displayed and made known to the creditor when they submit a single or multiple cases containing debts to be collected. There are no hidden fees or charges that are not disclosed to the creditor before initiating the collection or the recovery process for these cases.

Regardless of the collection channel chosen by the debtor to settle their debt, Respaid informs the creditor in real-time. It is useful to explain the various options available to the debtor to settle their debt :

The debtor settles the debt through the secure unique payment link provided

The collected amount is transferred to the creditor, deducted from the Respaid fees.

An email notification details the nature of the upcoming transfer, mentioning the lines and amounts recovered, along with an Excel export useful for the creditor's payouts. The lawyer procedures are automatically closed.

The amount recovered is paid in full to the creditor, and the lawyer procedures are closed.

In this case, an invoice is generated for the creditor to proceed with the payment of collection or recovery fees. The payment method is a direct deduction at the source.

Calculation of collection or recovery fees, Fees details, Payment to the creditor, Collection or recovery fees, Payment methods

How are collection or recovery fees calculated ? How is the payment of these fees organized ?

In addition to the real-time information shared, a performance report is sent at the end of the amicable phase, detailing the statuses of the collections :

 : The lawyers' procedures are stopped. The debt has been settled. The collection or the recovery fees agreed when implementing the debt table are due. Details of where the funds will be used are given.

Promise of payment: The debtor proposes a payment date. Notifications are suspended and resumed after the payment promise date if the debtor has not yet paid.

 : Funds are paid monthly to the lawyer and retroceded to the creditor accordingly. The "Down payment" column represents the total amount of debtor payments, while the "Balance" column represents the funds to be collected before the procedures are definitively closed with the debtor. The line automatically changes to collected status.

 : Reasons include incorrect identity, insolvency, a request for supporting documents from the creditor left unanswered, debtor not recognizing or disputing the debt, death of the debtor, discrepancy between the amount to be collected and the amount owed by the debtor.

In the case of a dispute by the debtor and notification sent to the user-customer, the user-customer is requested to respond. If there is no response from the user-customer within 4 working days, the case is cancelled and the case fees are due to the lawyer's office.

 : For example, the debt is not eligible at the time of collection or recovery , the debt is already being handled by a third-party collection agency authorized by the creditor, a written request from the creditor to halt the collection of a case, a written proof from the debtor of the non-eligibility of the debt. The lawyer's fees are due.

 : After the automatic 20-day phase, a home visit can be conducted with the debtor. From D-50 onwards, we keep the cases open for one working month, but no further actions are taken against them as the amicable phase is concluded.

However, we have the option to manually follow up on the cases by phone. Additionally, we also handle incoming calls in case of a payment.

You can see the opportunities for the creditor in case of failure of the amicable collection or recovery

Notes can be added for each debt line supplied by the lawyer in charge of the case or Respaid collection agent.

From the "Recovery" page of your dashboard, you can download an advanced report of our operations at any time to facilitate lettering. We will send you the following information as soon as possible :

A retrocession slip as soon as the debts are settled by the lawyer.

An invoice for collection or recovery fees when cases are collected directly from your entity.

In addition to all this information, a statistical report is provided, including the amounts recovered, those in progress, and the distribution in terms of both amount and percentage for all labels.

Collections statuses, End of the amicable phase, Collection or recovery report, Dashboard

Excel Recovery Report - Updated receivables table

The follow-up of amicable collection cases can be consulted via the Respaid interface.

At the end of the collection period, a performance table is sent to the creditor, and we provide you with a detailed email report of our collection actions.

In case of failure of the amicable recourse, when a case cannot be fully settled, Respaid may propose an option to the creditor.

We're here to support you in any legal case that may arise. Our services cover the entire spectrum of the judicial debt collection or recovery process, starting with crafting the initial claim and continuing through to the forceful enforcement of court decisions.

By choosing our specialized judicial recovery service, you can rest assured that we will do everything in our power to increase your chances of a successful outcome. Our main goal is to recover your debt swiftly and effectively, all while maintaining and safeguarding your important business relationships.

Failure amicable recovery, Judicial debt collection or recovery process, Successful recovery

What opportunity does the creditor have in case of failure with the amicable collection?

An open collection or recovery case has an active payment link available as long as the debt is not settled, and 

Any ongoing collection or recovery case can be cancelled upon a simple request from the creditor. After cancellation, the payment link will no longer be accessible, but the case will remain in the creditor's dashboard for archiving purposes and the possibility of subsequent lettering.

How long are payment links active for?

The technologies developed by Respaid and made available to the debtor, with the purpose of settling their debt, are designed to optimize collection or recovery rates and protect the creditor from any disputes.

Whether it's a one-time payment of the debt or setting up a payment plan, Respaid adds a 3D Secure authentication step to help distinguish legitimate customers from fraudsters without compromising the user experience.

The settlement of the debt (subject to sufficient funds on the debtor's credit card) will generate a real-time notification to the creditor.

Dispute of a settled claim, Protect from any disputes, Authentication step

Can a debtor dispute a claim that was settled with Respaid's recovery?

Notifications regarding recovered files and status updates are sent daily to the email address of the user who created the account and the members of his team if affiliated with Respaid.

It mentions the amount and the channel of payment.

Invoicing and lettering are structured as follows :

1. Receivables recovered through the payment link are processed with "source debit" billing. A table of newly recovered invoices is sent weekly.

2. Invoices settled with your entity lead to third-party billing. The payment is automatic through direct debit.

Amicable collection operates on a success-based model, where the fee is a percentage of the amount successfully recovered, depending on the age of the debt, with additional fixed lawyer fees.

Installments handled by the partnering lawyer's office are charged at a rate of 10% of the amount collected.

Optional features like SMS/Voice notifications and incorrect email filtering are offered during the implementation of the debt table. There are no hidden fees, and all elements are disclosed to the creditor before initiating the collection process for these debt lines.

-If the amicable recourse has not yet given rise to a recovery of the debt, please note that the steps are brought to be pursued by the lawyer. If you have recovered funds from your entity, we kindly request you to inform your account manager to stop any action against the debtor.

-If you wish to obtain a judicial recourse, we invite you to contact your account manager to do the necessary.

Billing, Collection or recovery report, Fees calculation, Lettering

How does the billing, reporting, and fees calculation process work?

plays an essential role in ensuring the transparency and traceability of returned funds. When payments are registered with a lawyer's office, this document is sent to the creditor to inform him of the return of funds.

Key aspects of a retrocession slip and its role in the debt collection process:

A document used by lawyers when they return funds to the creditor after making payments in the context of debt collection or recovery. It summarizes the details of the payments received, the corresponding debts and any applicable execution fees. This document serves as proof of the return of funds and guarantees transparency in the transactions carried out by the lawyer.

-Information included in a Retrocession Slip

A retrocession slip contains several key pieces of information, such as :

The references of the creditor : the contact information and identification details of the creditor.

Details of the payments: the received amounts, payment dates, and references for each payment made.

Corresponding debts: information about the debts for which the payments were made.

Execution fees: a breakdown of the fees incurred by the lawyer in the debt collection process.

Total amount retroceded: the overall amount of funds returned to the creditor.

The retrocession slip has several important functions :

Proof of fund restitution : It serves as tangible evidence of the funds returned to the creditor, providing clear and transparent traceability.

Transaction transparency : It allows the creditor to track the payments made and their corresponding debts, ensuring transparency in the debt collection or recovery process.

Verification of amounts : The creditor can verify that the restituted amounts align with the registered payments and the respective receivables.

Accounting documentation : The retrocession statement provides essential documentation for the creditor's accounting records, facilitating financial management.

-Importance of communication between the lawyer and the creditor

Transparent communication between the lawyer and the creditor is crucial during fund restitution. The lawyer must regularly provide updates on the payments made and debts recovered, enabling the creditor to ensure proper management of their case. Open communication also allows for quick resolution of any issues that may arise.

Transparency in the process of returning funds, Proof of return of funds, Accounting documentation, Verification of amounts

What is a retrocession slip?

 can be made to the debtor. Starting from D-50, we keep the cases open for one working month, but no further action is taken towards them until the amicable phase is completed.

. On the other hand, we also handle incoming calls in case of a payment.

The reasons that can lead to this status are :

Incorrect or unused contact information provided by the debtor during the collection or the recovery process.

Email or phone exchanges with the lawyer that did not result in formal disputes or fund recovery.

Completed status, Home visit, Incorrect or unused contact information, No response from the debtor

To mark as "Completed"? What are the reasons ?

 status, it means that all scheduled notifications have been sent to the debtor, such as emails, SMS and voicemails.

we will continue to contact the debtor by phone

 to reach out to him. It's just the scheduled notifications that these debtors will no longer receive.

How can I track the progress of my cases?

When a Batch is in “completed” status, what happens next?

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

The debtor settles the debt with the creditor:

The recovered amount is entirely transferred to the creditor. Invoicing for the collection fees is generated for the creditor and sent via email. Collection or recovery fees are debited automatically.

The recovered amount is transferred to the creditor, with the collection or the recovery fees deducted.

How does the Debtor settlement process work?

Via the Respaid through the Payment Link:

To facilitate collection and optimize the chances of recovering the total outstanding balance of a case under a payment plan, Respaid provides debtors with a secure payment link. This link enables the setup of automatic monthly withdrawals, allowing our team to monitor payments effectively.

Directly agreed between creditor and debtor: 

If the creditor chooses to establish a payment schedule through direct agreement with the debtor, the case will be immediately labeled as "Recovered."

The case will be closed within the Law Firm, and collection efforts will stop.

The case closure email will not be sent to the debtor, as the payment plan remains ongoing and the debt has not yet been fully settled.

If the debtor doesn't stick to the agreed payment schedule and misses payments, the creditor can get back in touch with Respaid. and potentially initiate collection proceedings for the remaining balance due.

An installment payment plan has been established

English

Initiating a Collection - Tracking Debts from Respaid - Features / Amicable Collection - Reports & Statistics - Remittance Statement - Invoicing - Collection Notification

Amicable Debt Collection by Bailiff Summary after 20 days