How IMX software handles Debt Collection

The creditor rights are the legally established power that one person, the creditor, has over another, the debtor, to obtain something from the latter, usually a service or a sum of money.

Debt collectors, companies that collect unpaid debts, act as intermediaries to whom the creditor has given the mandate to recover a sum of money that it holds from a debtor. The activities of collection agencies are highly regulated and require compliance with specific rules of conduct and procedures. The iMX collection software facilitates and optimises the debt collection process for these professionals.

Collection procedures involve scrupulous compliance with procedures in multiple phases (amicable, legal) and iMX covers and adapts to all the stages of these procedures.

• All the amicable and legal procedures, as well as the situation and actions of the various involved parties of the case are documented in different parts of iMX.
• All this information is processed and analyzed by the Expert System procedures.
• Depending on the situations and events, different Expert system procedures are starting, progressing, freezing or ending.
• The expert system procedures give indications to the case manager what actions to undertake or trigger automatically actions generating important output from iMX, e.g. letter, fax, sms, e_mail, phone call to different involved parties of the case, addition of involved parties, interfaces, etc.

For a deeper dive into iMX Debt Collection Functionalities, please download our Debt Collection & Legal, Main Functionalities in iMX brochure and if you want to learn how iMX can help improving your Debt Collection business, request a demo.