29
Nov

Gap cover and hospital cash plans here to stay

According to the new draft regulations, gap cover and hospital cash plans will continue to exist, but the selling of new primary healthcare insurance policies will probably be terminated with effect from April 1 2017 if the legislative process goes according to plan, and the final regulations become law. Read more

25
Oct

Managing Debt Collections in today’s currency

According to Harold Koontz, “Management is an art of getting things done through and with the people in formally organized groups. It is an art of creating an environment in which people can perform and individuals and can co-operate towards attainment of group goals”. Read more

23
Feb

Should you train a debt collector?

A theoretical survey and a literature review were undertaken to identify the elements involved in training debt collectors and how it benefits the industry. Firstly, as the content to be presented is debt collection and is not generic in nature, the purpose of this literature study includes the investigation and identification of the elements involved in debt collection services. This includes, inter alia, the study of computing technologies, identification of a design strategy for debt collection systems and identification of a model to define distributed objects as an object-oriented view of distributed systems. Read more

9
Feb

Benefits of Outsourcing to debt collectors

Free up your valuable time to generate more leads and revenue

Entrepreneurs from any part of the world no matter the size can get assistance from outsourced collectors.  Whether you are in the service industry or extend credit, there comes a time when your debtor that promised to make payments, do not honour that promise.  Check your balance sheets under the description bad debts and see for yourself, not the clock is ticking on your days outstanding. As soon as you realise your credit controller is not succeeding in her in house collections strategies, think of outsourcing to debt collectors. The longer the debt is unpaid, the less likely it is to ever collecting it, note that collection from hereon can be costly.  

  Read more

12
Jan

Increasing medical debt

Medical Debt Collection Agencies focus on collections of medical outstanding debt.  This is where the patients or insurance companies have dishonoured their agreement to settle their claim. Agencies such as OVAG Int. SA often serve as a last resort for medical practices to collect monies from their patients in an effort to maintain a positive cash flow. Read more

22
Oct

Ever growing debt

Debt is owed by companies, individuals and investors.  Of the many things that are worrying investors around the world, from tumbling oil prices to the spectre of recession and deflation in Europe, one of the most important and least understood is Chinas debt that has been on a borrowing binge.  Read more

10
Sep

Call Centre Collection Strategies Conference

OVAG Int SA will be speaking at the Call Centre Collection Strategies Conference at Emperors Palace in Kempton Park, Johannesburg. Read more

25
Jun

Interesting Trends

We have noticed some interesting trends in the market recently. Amongst these are the rise in food prices possibly causing an increase in inflation. South African consumers experience severe strain on their cash flow thereby falling into debt. Exposure to credit tempts the consumer to fall into this pitch. Read more

25
Jun

The National Credit Regulator – Credit Amnesty

According to the Citizen, 12 June 2014, The National Credit Regulator on Wednesday clarified the “credit amnesty”, a new regulation pertaining to the credit records of consumers which came into effect last month. Read more

28
May

Repaying Debt

Legal consequences of defaulting on debt obligations.

If a consumer has any problems repaying their debts, the first thing to do is to contact the creditors immediately. If they do not make an alternative payment arrangement with the creditor, the creditor can hand the matter over to a debt collector or lawyer who will take legal action against the consumer to recover the money owing. If this happens the consumer will end up paying much more for the debt, because of extra interest and legal charges, and will definitely be worse off than before. Read more