Loan Collection System is an innovative solution designed at Neorithm by considering importance of loan recovery process for banking and financial services industry.
With Loan Collection System it is easy to manage delinquencies and to gain control over recovery process.
A debt/loan collection is a type of financial account that's been sent to a third-party debt collector. Debt collectors are companies who collect unpaid debts for others. The original company with which you created the debt most likely assigned or sold the account to the collection agency after you missed several payments and it was unable to get you to pay. It's usually more cost-effective for companies to hire debt collectors than to continue to spend their own resources pursuing payment on delinquent accounts.