Early collections
- Reminder calls on overdue instalments
- Follow-up before an account turns NPA
- Updating borrower contact details
- Recording promises to pay
Services
Loan recovery and collections for banks and financial institutions across Bihar and Jharkhand, from the first missed payment to the final settlement. Possession of vehicles and property is carried out only as the loan agreement, the SARFAESI Act and RBI rules allow.
Field recovery
- Visits to borrowers at home or at work
- Collection against the bank's receipt
- Address and residence verification
- Meetings with guarantors
Borrower tracing
- Locating borrowers who have moved
- Re-establishing contact on unreachable accounts
- Verifying current address and employment
- Tracing guarantors
Vehicle repossession
- Only on the lender's written instruction
- Only after the notice the loan agreement requires
- In daylight, without force or threat
- Possession memo and vehicle inventory signed on the spot
- Vehicle handed to the lender's approved yard
- Borrower told where the vehicle is and how to get it released
Property possession under SARFAESI
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002
- Delivering and affixing notices issued by the bank
- Support to the bank's Authorised Officer at symbolic and physical possession
- Inventory of the property and its contents
- Securing the property on the bank's instructions
- Coordination with local authorities when a Magistrate's order applies
- Site reports and photographs for the bank's records
Settlement and reporting
- Repayment plans within the bank's limits
- One-time settlement proposals for the bank's approval
- Regular reports on every assigned account
- Visit and call records for the bank's audit