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GLOSSARY

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.

  • (a) The age of the debt. The older it is the more difficult it is to collect
  • (b) the quality of the contact data supplied. Is there a phone number, an email, a work telephone number, the full address available etc? The less the amount of contact data available the more the Member has to do to find it.
  • (c) The level of dispute around the debts. Are people refusing to pay because services haven’t been carried out or information hasn’t been supplied?
  • (d) Amount of work already processed to try and collect the debts. How many letters, emails and calls have been sent/made and have the debts been placed with another agency prior to placing on Metwork?

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.

How it works

HOW DOES IT WORK?

When it comes to late or unpaid debts there might be 3 parties involved:

  1. Individuals, businesses or organisations that are owed money
  2. the RMAs(Receivables Management Agencies) and
  3. Individuals/businesses/organisations that are in debt.

Metwork has  dedicated itself to assisting debt placers (those who are owed money ) to get in contact with the best debt collection agencies (RMAs) – that in turn will be able to properly assist at the highest professional level with the needs of the individuals, businesses and organisations  struggling with debt.

Therefore – we will focus on explaining how the process works from 2 different perspectives:

  1. The individuals, businesses or organisations that have amounts that they wish to recover(known as the Debt Placer or Metwork User)
  2. The debt collection agencies that can bid for collecting or buying the debt accounts (known as RMAs or Metwork Members)

How does it works for a debt placer as a Metwork User ?

If you are an individual, a business or an organisation that is owed money all you have to do is  Sign Up  AS A METWORK USER / DEBT PLACER, place the accounts you cannot collect on the platform and then choose from the bids placed which one is best for you. There is no charge to you for this. It is important to understand that you want to benefit from a relationship with a Member Collection Agency (RMA) so if you only have 1 or 2 accounts to place you will not be successful in attracting bids. You should really be using Metwork when you have a collection of difficult accounts that you need assistance with now (and perhaps on an ongoing basis)    


  • EASY STEPS:
  1. PLACE THE DEBT ACCOUNTS!
  2. WATCH THE COLLECTION AGENCIES PLACE THEIR BIDS.
  3. CHOOSE THE OFFER YOU LIKE BEST, and we will put you in touch.
The only time a commission is paid by the debt placer to Metwork is if the entire portfolio of debt accounts is sold to an agency.

Metwork receives commission from our network of member   debt collection agencies that we connect our users with, but this does not influence the way we present you with options, nor does it affect the price you pay. All the agencies we work with are free to compete for getting your business to the best of their abilities – making it entirely your choice when choosing.

Metwork gives you access to pre-screened quality-assured professional agencies instantly.

How does it works for a RMA as a Metwork Member ?

If you are an RMA that wants to bid for buying or working on a “commission on collection basis” on an account portfolio you have to make sure your compliance and quality control is at the highest standard. If so, SIGN UP  as a MEMBER.

Joining Metwork is FREE for both Placers users and Members.

As a Debt Placer/ Metwork USER:

As a user – debt placer – Metwork is completely free. The only time a commission is paid by the debt placer is if the entire portfolio of receivables has been sold (when the debt collection agency is buying the entire portfolio). Once the sale has been agreed, Metwork receives a commission via bank transfer, before putting both parties in contact with each other.

Metwork receives commission from our member debt collection agencies that we connect our users with.

To give you an example:

You have placed several debts worth £100,000 and you have accepted an offer from one of the Metwork members to work the debts on a “commission on collection basis”. Let’s say you have agreed on a commission of 10% and that in week 1, the collection agency recovers £10,000. Their commission will be £1,000 – from which they will be responsible for commission paid to Metwork.

As a RMA/Metwork Member:

RMAs (Receivables Management Agencies) collecting accounts on a commission basis, pay monthly commission to Metwork based on their commission invoiced to clients.

You are responsible for updating Metwork with the amount settled (collected), and the value of commission invoiced from that settled amount.  If you have not collected anything in the reporting period, you must report a nil return. Metwork does not need to know about trace or other fees, just commission on the settled (collected) amount.  

When you have successfully bid for some accounts to collect, Metwork may make you an offer for a one-off commission amount – based on the expectations of your future collections. If you think you can collect more, then it makes sense to pay us our offer amount.

When it comes to late or unpaid debts there might be 3 parties involved:

  • 1. Individuals, businesses or organisations that are owed money
  • 2. The RMAs (Receivables Management Agencies) and
  • 3. Individuals, businesses, organisations that are in debt.
Metwork has dedicated itself to assisting debt placers (those who are owed money ) to get in contact with the best debt collection agencies (RMAs) – that in turn can professionally assist organisations, businesses and individuals struggling with debt and most importantly, the timely collection of it.

We will focus on explaining how the process works from 2 different perspectives:

  • 1. The individuals, businesses or organisations that have amounts that they wish to recover (known as the debt placer or Metwork user)
  • 2. The debt collection agencies that can bid for collecting or buying the debt accounts (known as RMAs or Metwork members)

How does it work?

for a Metwork User

If you are a debt placer or an individual, a business or an organisation that is owed money all you have to do is

SIGN UP
place the accounts you cannot collect on the platform and then choose from the bids placed which one is best for you. There is no charge to you for this. It is important to understand that you want to benefit from a relationship with a Member debt collection agency (RMA) so if you only have 1 or 2 accounts to place you will not be successful in attracting bids. You should really be using Metwork when you have a collection of difficult accounts that you need assistance with now (and perhaps on an ongoing basis)    

3 EASY STEPS:

  • 1. PLACE THE DEBT ACCOUNTS!
  • 2. WATCH THE DEBT COLLECTION AGENCIES PLACE THEIR BIDS.
  • 3. CHOOSE THE OFFER YOU LIKE BEST, and we will put you in touch.

for a Metwork Member

If you are an RMA that wants to bid for buying or working on a “commission on collection basis” on an account portfolio you have to make sure your compliance and quality assurance is at the highest standard. If it is…
Apply for Membership

The only time a commission is paid by the debt placer to Metwork is if the entire portfolio of debt accounts is sold to an agency.

Metwork receives commission from our network of member debt collection agencies that we connect our users with, but this does not influence the way we present you with options, nor does it affect the price you pay. All the agencies we work with are free to compete for getting your business to the best of their abilities – making it entirely your choice when choosing.

Metwork gives you access to pre-screened, quality-assured professional agencies instantly.

COMMISSIONS

Joining Metwork is FREE for both users and members.


As a Debt Placer/ Metwork User:

As a user – debt placer – Metwork is completely free. The only time a commission is paid by the debt placer is if the entire portfolio of receivables has been sold (when the debt collection agency is buying the entire portfolio). Once the sale has been agreed, Metwork receives a commission via bank transfer, before putting both parties in contact with each other.

Metwork receives commission from our member debt collection agencies that we connect our users with.

To give you an example:

You have placed several debts worth £100,000 and you have accepted an offer from one of the Metwork members to work the debts on a “commission on collection basis”. Let’s say you have agreed on a commission of 10% and that in week 1, the collection agency recovers £10,000. Their commission will be £1,000 – from which they will be responsible for commission paid to Metwork.

As a RMA/Metwork Member:


 RMAs (Receivables Management Agencies) collecting accounts on a commission basis, pay monthly commission to Metwork based on their commission invoiced to clients.

You are responsible for updating Metwork with the amount settled (collected), and the value of commission invoiced from that settled amount. If you have not collected anything in the reporting period, you must report a nil return. Metwork does not need to know about trace or other fees, just commission on the settled (collected) amount.

When you have successfully bid for some accounts to collect, Metwork may make you an offer for a one-off commission amount – based on the expectations of your future collections. If you think you can collect more, then it makes sense to pay us our offer amount.

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