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This workflow template illustrates the first party (no collection agency involvement) recovery and payment of loans (in default) to private clients. Purchase and download this template in PDF, Visio and PowerPoint formats, and customize it to fit your organization, or use it to better understand the Private Debt Recovery process.Download a Free Sample of this Workflow Template
What is Private Debt Recovery?
The private debt recovery process involves the first party (no collection agency involvement) recovery and payment of loans (in default) to private clients. This process includes the loan scorecard process (to determine accounts that will be easiest to collect) skip tracing and payment collection/verification. Should a collections agency be employed, ensure that the agency meets with the Service Level Agreement. Otherwise, be prepared to pull back from the agency.
Which KPIs, or metrics, are typically used to measure this process?
The following metrics are typically involved in the Private Debt Collections process:
Which employees and/or departments are involved in this process?
The following parties are typically involved in the Private Debt Collections process:
What is the purpose of these workflow templates?
Broken business processes pervade companies, large and small. Manual workarounds, downtime, errors and other waste is thought of as "the cost of doing business." Use our workflow templates as a starting point to document your own processes. Customize them to fit your business and add "call outs" for improvement opportunities.
How are these workflow templates created?
These workflow templates are the product of over 20 years of hands-on management consulting experience, as well as research performed by the OpsDog team. All of our workflows are mapped using the BPMN 2.0 specification.
How do I download a workflow template?
Simply click the "add to cart" button and follow the process to purchase and download this workflow template. You can use any major credit card, or a PayPal account, to pay. After you have completed the purchase, you will receive a link to immediately download the document in PDF, Visio and PowerPoint formats. If you aren't a registered OpsDog user yet, create a free account! New users get $20 off of their first purchase.