Debts or receivables
The schedule of work a Member RMA processes in order to try and collect debts (also known as a Workflow)
On-going debts being collected
Profitable enough to warrant a cost investment
The levels of professionalism in approach an RMA can demonstrate e.g the training of its agents, how data is protected by the RMA, how secure are its payments process and client money, once debts have been collected etc
The arrangement whereby debt collection services are offered on a “commission on collection” basis
Criminal records bureau checks
A company, an organisation or individual who places debts for collection onto the Metwork platform
Group of debts/accounts/receivables
The layout of the debt information (usually on an excel file) that is transferred to the RMA.
RMAs based in the same country as the debt placer.
Formal checking process to establish the business credentials of a party
Secure online facility provided by RMAs (Metwork members) that supplies information and analysis to the debt placer on the progress of their accounts.
Laws and guidance governing the work of collection agencies
A formal procurement process where multiple bidders are invited to submit a detailed proposal
Materials and know-how that specifically are the creation of a particular party and as such are subject to ownership rights.
The debt collection system that the RMA( Metwork Member) works on.
A Receivables Management Agency or RMA, better known as a debt collection agency who may place bids to collect your accounts.
A company, an organisation or individual who places debts for collection onto the Metwork platform.
A rapid procurement process. Usually sent to “preferred potential bidders”
Amounts of debt that have been collected
If no debt has been collected in that reporting period the RMA must record a 0, as opposed to not recording a figure.
One payment based on a forecast of how much debt will be collected
Group of debts/accounts/receivables
Would be considered by all interested parties as a “fair proposal” based on the information supplied
Debts or accounts
The amount of debt that a member RMA predicts will be collected.
Receivables Management Agency/ Metwork member
A formal procurement process where multiple bidders are invited to submit a detailed proposal.
An amount an RMA will charge for finding someone who has disappeared from an address
Sending the debt amounts and personal information to the RMA so they can start collecting them
A legal action resulting in a court judgment awarded against the defendant
To cancel a placement of debts already on the Metwork platform
The difference it costs a Member to collect a debt and the commission they earn from collecting it.
If the debt you have to collect is abroad, Metwork is able to offer support there as well. Provided we have members in that country, any accounts you place will instantly be available for them to bid for, alongside the domestic collection agencies.
This way you can forge valuable partnerships with professional overseas agencies for free.
Regardless of country, Metwork will limit the number of member agencies to 12 – and they must be able to satisfy the financial and regulatory compliance criteria applicable to the collection industry in that country. Overseas Metwork members will be subject to the laws of England as they apply to the work they are introduced to from our platform.
If there are any agencies that you have engaged with in the past that you do not want to deal with you can let us know and we can exclude them from the bidding process. It is as easy as that.
The terms of membership compliance guidelines will be reviewed regularly, updated and notified to you as a member which you will deem to have accepted if you continue your membership. They are all detailed in the membership terms and conditions, which each applicant acknowledges that they have read and understood, before they can become a member.
Full details are provided in the terms and conditions of your membership but can be summarised as follows
Yes. If the member obtains legally binding permission from their client to place accounts
owned by the client that the member may or may not have already worked on, the member
can place the accounts as an opportunity for other members to bid to work.