Turbodebt does not offer loans, nor is it a marketplace. It is a debt settlement company that offers third-party services to help people negotiate debts with their creditors and debtors. In this section, we will look at the terms and requirements needed when working with Turbodebt.
Loan Requirements
Turbodebt recovery deploys effective and straightforward collection strategies that help people and organizations recover debts from their creditors. The company focuses on treating their clients with respect and understanding while aiming to provide debt relief. Here are some of the steps that Turbodebt engages in achieving loan relief:
- Skip Tracing
Immediately after placing your documents in Turbodebt’s office, they have seasoned professionals who start skip tracing your account. They locate any assets the debtor owns and evaluate the company’s principles to get relevant information where the account can go to litigation. This helps in determining the ability to repay based on your assets vs liabilities.
- Standard Collection
Here, Turbodebt will listen to both sides to strategize on how to resolve the matter. The company states that their strategies are tried, true, and effective. They have an old-school approach where their representatives contact every account to aim at getting your account paid. In addition, you have a choice to customize your talk-off to your preference or leave it to the company to handle it by themselves.
Loan Terms
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- Monthly reporting is very necessary when working with Turbodebt as it helps you feel connected to the company. Turbodebt sends monthly reports and a report of a client’s business which shows the total inventory and amount that is open to collect. This also helps one to discuss the liquidity rates, what to do with specific accounts and how you can improve your internal collection processes. Monthly reporting also ensures that there is utmost transparency and the company is doing its best to boost your debt relief.
- Correct internal processes help in reviewing in-office collections to check on the progress and what’s not working. It also helps n determining how much debt has been written off, the contemporary liquidity rate, and areas that require improvements in your system. Turbodebt will then derive rules, procedures, and deadlines for your account’s consistency. This is vital in reducing the number of outstanding loans and minimizing long-term waits.
- Client coordinator helps you to have a person-to-person relationship to facilitate every step of the process. Turbodebt sends a digital client services manual that outlines the policies and procedures of the processes involved. You will also get assistance on fixing reporting errors, uploading accounts, and many more. Nonetheless, the client relationship is still present despite all these additional services.
When you call Turbodebt offices, you will be handled by a human voice rather than answering machines, as witnessed in some companies. That’s why a client coordinator is imperative, as it aids in seamless communication for better results.
Repayment Terms
- Collection Litigation
After trying all pre-judgment collection efforts, now it’s time for Turbodebt to check whether litigation makes sense. However, they will advise you first whether it is worth taking the matter into legal proceedings. Turbodebt has an in-house law firm and thousands of attorneys who will ensure that you are in the best hands.
- Collecting on Liens
After getting a judgment, Turbodebt can collect it for you. They have years of expertise which helps them have vast knowledge of legal collecting in a cost-effective manner. Turbodebt uses the best strategy that will bring the best for your debt collection. They dwell on numerous options such as bank attachment, judgment debtor examination, cash box execution, wage garnishment, and non-wage garnishment, to name a few.
