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Fast Debt Managers wants to make a positive and long lasting contribution to the communities in which we operate by encouraging giving back to the communities. This supports our core values and is reflected in the actions. We encourage and support a proactive and caring tradition of assisting those in need primarily through volunteering and assisted ventures.

As part of our Corporate Social Responsibility, FAST-DEBT offers Debt Management Training / Education or Awareness programmes to assist society from falling into the debt burden. Under this service, we offer various solutions on how one can come out of debt, provide counselling services especially for those that may be under trauma as a result
of their debt status.

We offer a specialized service tailor-made to help individuals learn from other people’s experiences by offering debt clinics / workshops, round table discussions and counselling. FAST-DEBT may provide any of the services pro-bono,terms and conditions apply.

We offer debt management awareness training for both financial institutions and ordinary citizens and prepare them on how to manage their debt. FAST-DEBT is looking for interested corporates, NGOs and any other interested social agencies to partner with under this noble cause.

 

FAST-DEBT has an IN-HOUSE Legal Office and is being supported by EXTERNAL Legal firms who are ready to take up cases. Difficult debtors are taken through the legal procedures with the full knowledge of the Client. With this legal support and back-up, we offer a full-proof Debt Management Service to our Clients ready to take the full process of the law.

 

We outsource pre-debt approval checks service (Know Your Customer {KYC}) offering timely, accurate and valid information which will enable our clients to make informed lending decisions. This is a due-diligence service that gives you speed to process applications and approval loans or any other facilities the Client offers to customers.

 

This is a new service offering that gives the Client impetus to be flexible in terms of offering their products in order to increase sales and market share. Under this offering, our Clients consciously take more calculated risk with a piece of mind given that FAST-DEBT underwrites the debt thereby providing assurance to the Client that the debt will be collected and settled in full within the agreed period.

How it works

The Debtor pays a minimum of 50% of the product upfront plus other administrative fees and takes position of the product immediately. The other 50% is paid in equal of installments within 3 months to 12 months depending on what has been agreed with the Client. By underwriting, FAST-DEBT guarantees that the balance will be collected and settled in full within the agreed period. This service offers businesses flexibility and drives product sales by over 60%.

This is suitable for, but not limited to the following;

  • Motor Vehicles finance / Sales
  • Furniture Sales
  • Any other product or service

 

Through our specialized and highly trained investigations team we offer pre-debt checks, debt investigation and skip and trace services. We carry out forensic investigations to track debtors that have disappeared including fraud prevention and fraudulently obtained debt. This service is open for outsourcing.

 

Debt Recovery, on the other hand, is the recovery of a debt after it has been written-off from the company’s / Client’s books after unsuccessful internal debt collection process. Our debt Recovery process is a step by step procedure that escalates from less aggressive to a more intense and rigorous recovery process depending on the level of delinquency and difficult-to-pay debtors. This may lead to legal action. This service is suitable for all types of debt gone bad.

 

This is a unique service offering that assists Clients who are in distress or over indebted and don’t know what to do. We provide a number of personalized solutions to move such individuals from an over-indebtedness position to a debt free / manageable and / or less stressful position. Under this service, our unique offering include the following services;

Debt Consolidation

This is where one has more than one debt with one or more lending institutions and is literally drowning and failing to service the loans sitting various lending institutions. FAST-DEBT will approach lending institutions on behalf of the debtor to negotiate the possibility of consolidating the various debt into one easy repayment now sitting with only one institution thereby reducing the repayment amounts per month. Once a debtor is on this programme, the Debtor is not allowed to accumulate any further debts until the consolidated debt is settled in full.

Debt Restructuring

This is one of our flexible services which enables the Debtor to service the debt without putting a strain on their finances. FAST-DEBT will investigate the causes that led the Debtor to arrive at this position and recommend a suitable restructuring programme. A Debtor is limited to only one (1) restructuring in every six (6) months and subject to him paying off the previous restructured debt in full. Once a Debtor is placed under a restructured programme is not allowed to incur any further debt until the previous debt is paid in full. If a Debtor has undergone restructuring before, he / she will not be eligible for the service.

Debt Review Services

This is a personalized service offering Clients who may be questioning their Debt Statement / status with the Lender. FAST-DEBT critically analyses the Debtor’s Account Statement to ascertain the correct debt status. Using the aim of review and verify the debt status of the client visa-vie the process that led to the Client’s possible bad loan status. Where it is found that the Lender was in the wrong, we recommend ways to rectify the debt position.

 

Landlords who are either busy or want to have a piece of mind can outsource rental collections service to minimize the challenges involved during rental collections. FAST-DEBT will send out reminders and engage tenants to ensure that rental payments are made immediately when they are due. This ensures that difficult tenants comply with their terms of the contract, failure to which a surcharge or a more intense procedure may be used to collect rentals due. Landlords can now concentrate on other pressing matters whilst  we collect on their behalf.

Others are;

  • Insurance Premium Collection
  • In-store Account Collection
  • Loan / mortgage Installment Collection
  • Credit Card Collection
  • Tom Card Collection
  • etc.

 

This is a unique service, offering Lenders to out-rightly buy the debt at a discounted amount hence giving FASTDEBT an opportunity to settle the debt immediately. We offer partial and full debt buying. Partial debt buying is where we buy the debt with the Client having a right to buy back the loan. We primarily purchase delinquent debt arising from non-performing mortgages or any secured loans.

 

Debt Collection and Debt Recovery sound like they have the same meaning, but there is a subtle difference. Debt Collection involves general measures taken to collect money owed by late payers. These are live debtors. Clients may opt to engage FAST-DEBT to manage their live debt-book to ensure prompt payment of bills / invoices as they fall due. A rigorous reminder system has been put in place by FAST-DEBT to avoid invoice payments from becoming overdue. FAST-DEBT follows-up, monitor and track all invoices raised in that period and ensures that these are paid before or by the due date.

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