Overview
CreditorWatch offers practical tools to help you manage debt recovery before engaging a legal representative. By using CreditorWatch, you can assess a debtor’s financial position, communicate professionally, and demonstrate reasonable collection efforts before legal escalation.
Review the Debtor’s Credit Profile
If a debtor is slow to pay, start by reviewing their credit profile to understand their financial history.
Check for payment defaults, court actions, or adverse information.
Add the entity to your Customer List for continuous monitoring.
Receive 24/7 alerts when new events or changes occur.
Use CreditorWatch Letter Templates
CreditorWatch provides letter templates featuring our logo to assist through every stage of the collection process. These can help formalise your communication and prompt payment.
Letter templates are located in the Debtor Management section.
If payment remains outstanding, you can notify the debtor that you intend to register a payment default.
Explain that a registered payment default will remain on their profile for five years.
For more information on how to register a payment default, see the related article: Registering a Payment Default.
Demonstrate Recovery Efforts
If the debtor still fails to pay, you can use your CreditorWatch activity as evidence of your recovery attempts when engaging a debt collector or pursuing court action.
This may include:
Monitoring alerts and correspondence records
Registered payment default confirmation
Copies of CreditorWatch letter templates sent to the debtor
Learn More
Discover how CreditorWatch’s monitoring, communication, and payment default tools can support your debt collection process before seeking legal action.
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Not a member? Join CreditorWatch today to access monitoring tools, communication templates, and debtor insights that help you recover debts efficiently.