UHTCL Debt Recovery Department

Introduction to the Debt Recovery

The debt recovery team of UHTCL act and work as consultants for our clients, championing their lawful right to recover money which is legally and rightfully theirs. You should not have to pay to recover debts that have not been paid on time, that is what the Law says and that is why we use relevant laws to its full effect by charging our recovery fees to the debtor.

We are dedicated and professional but we are also approachable and friendly. The whole team at the company take great pride in the outstanding results we achieve and the strong long-term working relationships we build with our clients. And when it comes to debt recovery you will find we do things differently.

 Debt collection with a difference

Unlike traditional debt collection formulas, we have embraced advances in methodology and technology, utilising real time financial, intelligence and tracing systems. Our focus is to settle every issue amicably rather than taking any hostile attitude. What sets us apart from traditional debt collection agencies is the ethical approach we adopt and the fully compliant methods and disciplines we practice. Once you add our wealth of knowledge and experience in debt recovery and litigation and our expert execution of laws, it is clear to see how we produce results which are unrivalled in our industry. We merge a use of lawyers as well as law enforcement agencies, if necessary, to ensure positive results in recovery of debts.

Commercial Debt Recovery

Most businesses will at some stage be faced with customers who do not pay on time and as a result may experience cash flow problems. There is usually a reason why businesses that are supplied with goods or services do not pay on time, and often it is because they are in financial difficulty or because they are using credit to fund their own business, taking on extra staff and investing in new equipment while avoiding paying their creditors.

In either case there is a high risk that late payers will become bad debtors if the situation is not managed effectively and quickly. Why should your business suffer because of another business’s poor administration or financial problems, and why should money that is rightfully yours be used to fund someone else’s business when it could be used to grow your own business.

Commercial Debt Recovery Solution of UHTCL

Recovering debt is a challenging situation for any business, it is stressful, time consuming and usually ends in frustration with the debtor simply ignoring all requests for payment or offering one excuse after another. UHTCL offers an alternative to this situation, a professional, effective and cost free debt recovery solution. We understand the pressures of the debt recovery process and use our extensive knowledge and experience to achieve outstanding results.

Debt Recovery Process

Experience has taught us that recovering debt successfully requires an individual approach, no two cases will be the same, each debtor will have their own unique circumstances and recovering each debt will have its own unique challenges.

We use expert negotiation, determination, bespoke case management and when necessary the correct use of appropriate litigation to deliver an ethical and fully compliant service that achieves outstanding results.

The most important factor in a successful recovery is to take action quickly. If the debtor will not pay or cannot pay, there will no doubt be other debts they will not or cannot pay. You must let them know that you are serious and get to the front of the queue for payment.

UHTCL’s Debt Recovery Methodology

Appoint Us:

You have to formally appoint us as your consultant giving us the authorization to deal with your debts. As for appointment, you have to pay us an initial fees of BDT 15,000/- (Taka Fifteen Thousand only) which is non-refundable. After the recovery of any amount, we shall charge 10% of the amount and this initial fees shall be deducted from therein. The costs of engaging personnel including law firm, security enforcement agencies and other miscellaneous costs shall be at actual and shall not go beyond an additional 10%. The miscellaneous costs are payable at providing invoices during the process of collection and the 10% fees of UHTCL within 7 (seven) days of recovery.

 Phase 1: Identify the debt

• Check documentation of the basis of the debt
• Check financial report and obtain updated outstanding amount of debt

 Phase 2: Amicable negotiation

• Talk over phone regarding the debt
• Official visit and meeting with the defaulter
• If shown interest of payment, get a schedule of payment (a plan of payment) in their office pad, or if possible in 300/- Taka Non-Judicial Stamp.

 Phase 3: Action

• If not shown interest, using our personnel try to convince to make payment.
• Even if does not work, using security enforcement agency to make payment.

Phase 4: Legal Action

• Engage Law Firm
• Send Legal Notice
• File criminal case/civil suit as applicable for the recovery

Please note that any 2 phases could be used simultaneously considering the situation.