| Question: |
What kind
of debts does Datapool collect? |
| Answer: |
In general, we accept all kinds
of claims provided the following conditions are met:
- Proper documentation to support the claim, e.g. Invoices, bills,
purchase delivery orders, contracts, etc.
- client and debtor not in the midst
of (any court proceedings) litigation.
- There is no dispute between both parties.
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| Question: |
What are
the collection procedure like? |
| Answer: |
We do not have a fixed procedure. Usually
our collection process will include a thorough investigation of
the debtor's background and financial and litigation status, calling and
sending of letters by our credit control officers, house visits by our
field collection officers and if necessary, legal letters of demand.
We
sit down with our client to explore how best to tailor one that fits
our client's requirements. For example, some clients may not have
done very much on the cases before assigning them to us. We would propose
then that reminders are sent, calls and house visits (if necessary) made
and even legal letters of demand sent. Others may have done all they
could, including calling and sending reminders, before giving the
case to us. In that event, we may propose more pro-active steps like
house visits and legal letters. The whole point of the discussion with
the client is to create a customised procedure that we believe will
yield more effective results for our client.
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| Question: |
Does Datapool have
an operating procedure? |
| Answer: |
Collection is the ultimate aim in
our business. However, we also strongly believe in upholding the corporate
image of our clients and will not compromise our operating procedures.
Besides having our own code of conduct and business ethics,
we have set in place certain procedures to help keep us on track.
- regular meetings with our clients to obtain
their feedback and upgrade our services accordingly.
- provide regular reports to clients to ensure
that our clients are kept informed of collection results and information
gathered in the course of investigation and collection by our
officers. We believe that the information gathered can also help
our clients improve our services to their customers and incorporate
these feedback into their own operating procedure.
- provide a value-added service of advising
our client on the next best course of action where we fail to
collect, e.g. giving our client sufficient information on the
debtor's financial and litigation history to enable our client
to decide whether it is worth taking up legal proceedings against
the debtor.
Within the organisation itself, employees are carefully screened before
we engage their services and we also conduct continuous education
and upgrading programmes for our existing staff.
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| Question: |
Besides
collecting bad debts, what other kinds of services does Datapool offer? |
| Answer: |
Collecting bad debts for individual
and corporate clients is only one part of Datapool's business. We
also offer legal consultancy, field collection, credit and debt management
consultancy and comprehensive accounts receivable and accounts payable
management and collection services to clients.
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| Question: |
What are
the success rate like? |
| Answer: |
There is no standard answer. It
all depends on the age of the debt, the nature of the debt, debtor
profile and whether they are disputed cases. In some cases, we can
achieve almost 90% recovery.
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| Question: |
What is Datapool's
fee? |
| Answer |
We work on a "No Collection, No
Charge" basis. A commission is levied on successful collection only.
We have a standard collection rate but depending on the volume and
nature of the debts, preferential rates may be given to clients.
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| Question: |
How long is
the turnaround time for collection? |
| Answer: |
We would ask our clients to let us
work on the cases for a minimum of twelve weeks. This allows us to
perform all the necessary searches and investigation, to contact and initiate
negotiations with the debtors and also to conduct all the necessary follow-up
action.
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| Question |
How do I assign
my cases to Datapool? |
| Answer |
Give us a call and let us find out more about
the nature of the debt. Or email us your contact and we will call
you. If necessary, arrangements can be made for us to visit you.
You may also wish to go to our Online Placement to submit your debt.
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| Question: |
What are the
Benefits of being a Subscriber? |
| Answer: |
Being a subscriber, you can assign
Datapool to manage your accounts receivables under our no collect
no charges scheme. You can also benefit from our new on-line Credit
Bureau service at no or minimal costs. In addition, take advantage
of our over 20 years experience in the debt management business by
printing our company logo on your invoices; this is however subject
to written approval by Datapool.
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| Question: |
What does Datapool
Payment Check have to offer? |
| Answer: |
Datapool Payment Check
gathers valuable information that helps compile and profile past payment
habits pertaining to an individual. It is instantaneous, and provides
information on your customers, past and present, and on what type
of payment history. You can then use the useful information that is
summarized in a simple report to make better credit decision.
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| Question: |
How different
is it from the current market credit searches? |
| Answer: |
Datapool is the 1st company in
Singapore to compile and profile consumers payment habits and produce
a credit report at no or minimal costs. Whereas the current credit
searches offered in the market only indicate if the person has any
legal suits.
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| Question: |
Does it offer
Overseas Search? |
| Answer: |
At this moment our Datapool Payment Check only includes information within Singapore.
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| Question: |
Who can access or obtain a copy of the reports? |
| Answer: |
This service is exclusive only
to our subscribers and valued customers. For those who wish to access
our Datapool Payment Check you simply need to submit your application
and become our member.
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| Question: |
How credible
are the information contained in the Datapool Payment Check? |
| Answer: |
We assure our subscribers that
we offer nothing more than facts. Our primary objective is to provide
value add information for making credit decisions. To avoid mistakes,
we require you to submit the NRIC, Passport or FIN number of the searched
person.
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| Question: |
How much does
each report cost? |
| Answer: |
Subscribers are given free searches
in our Datapool Payment Check equivalent to the number of cases assigned
to Datapool, otherwise S$1.00 per search is charged. This excludes
any search made via Quest Line.
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