The TCM group was established in the year 1987. The TCM group stands tall in the debt collection market, with approximately twenty years of experience. This group is represented in almost 143 countries. The TCM group provides services related to debt collection under one roof. It basically, takes care of litigation, debt recovery and court orders.
The group carries out its debt recovery and debt collection process by working in unison with the creditors as well as the various law firms specializing in the same.
Obstacles faced by TCM group:
Common obstacles faced by the TCM group may include, dealing with legal procedures, which differ in other countries. Differing time zones, linguistic barriers, exchange rates are some of the obstacles, which a TCM group representative may encounter. However, the network of TCM group is so strong, that these obstacles may just be ignored.
Since, TCM group has representatives in 143 different countries, the local representative of a particular country, may be informed about the borrower’s whereabouts. Thereafter, the consumer may be contacted for debt recovery and collection.
TCM group rates:
The group charges fees, which are competitive and may be paid up after the process of debt recovery is carried to completion.
Litigation for International debt recovery:
In the event, when taking a legal step against the consumer is the only way of debt recovery, the TCM group suggests ways of expediting the process, which is at the same time cost effective. The cost of litigation is decided as per the standard cost of the local court. The TCM group, makes the consumers aware of the likely expenses, which may have to be incurred for responding to the court action till the dispute is settled. This prepares the consumers or the clients in staying abreast with the expenditure and the actions likely to follow. Other services offered by the TCM group also includes, detecting debtors, who have been missing for long spells.
Process of debt recovery of TCM group:
The process mentioned below is the general method for debt recovery. However, this may differ from one country to another owing to difference in the legal system prevailing in that country.
The following information is handed over to the TCM group representative by the individual or organization hiring the services of the group:
Debtor’s contact as well as identification details
Interest rate likely to be charged along with the date from when the rate of interest is effective.
The agreement between the lender and the borrower.
The TCM group representative acknowledges the receipt of the above furnished credit account details.
Inform the debtor.
Initiate appropriate debt recovery process.
Thereafter, the developments are reported to the lending institution.