Student Accommodation Debt

Combination-7

Overview

Sigma Connected has a history of collecting student debt dating back to 2018.

This client worked on the debtor’s book using excel as a system to collect the debt, Sigma was able to provide a full debt collections service. It included the use of a well-known South African off-the-shelf Debt Collections system. This system comes with all the advanced tools to analyse data, issue bulk SMS, email campaigns etc. and can also trace uncontactable debtors.

Today we manage the client’s entire debtors’ book for any debt that has fallen at least 10 days behind.

The challenge

Initially, the client only has one employee working on all the student debt. After discussions with the clients to understand their needs, we were given a 3-month trial and in just two days, we launched the student debt recovery through the use of Sigma’s collection system including the dialler and other tracing tools. Delivered through Sigma South Africa’s debt collectors’ brand, we also employed the use of the Credit Bureau Listing to blacklist those whose debts were still unpaid.

The solution

Sigma managed to get 18% of outstanding debts sorted as students paid up their arrears in just one month. In month two this had increased to 20 % of the cases.

Due to Sigma’s strategic changes in the way the debt was collected, the team received an excellent quality score of 100% each month across a total of 9378 calls, 1783 SMSs and 828 Emails.

The result

Sigma managed to get 18% of outstanding debts sorted as students paid up their arrears in just one month. In month two this had increased to 20 % of the cases.

Due to Sigma’s strategic changes in the way the debt was collected, the team received an excellent quality score of 100% each month across a total of 9378 calls, 1783 SMSs and 828 Emails.

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