Debt Recovery

CreditorWatch provides a simple and cost-effective solution to managing debtors before lawyers and collection agents need to be engaged.
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​Managing slow paying customers
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If a debtor is slow to pay their invoice, arm yourself with information. Review their credit profile and add them to your monitoring list to receive email alerts of their activity. You'll receive an email to alert you when adverse information appears or simply a change of information on their credit file.
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​Managing overdue accounts
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When debtors have not paid their invoices once they are due, you can send reminder letters such as 30/60/90 days overdue reminders, or letter of demand notices to prompt for payment. In these letters, you can advise debtors that you will register a payment default against them and that the payment default will remain on their profile for 5 years.
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As a CreditorWatch customer, you can use Debtor Management to quickly download collection letters that are pre-populated with your debtor’s account details, your company logo and the ‘CreditorWatch Member’ logo. You’ll need to connect your accounting software to use this tool.
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​Register a payment default
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If the debtor still has not paid 60 days after the debt is due, you can register a payment default with CreditorWatch.
In addition, you can engage a debt collector or your lawyer and show how you've used CreditorWatch to assist your efforts in collecting debt.