Version 1.0
Prepared by: @Lorraine Sebata
Approved by: @Lashanda Mackey
Reviewed date: 2025-09-04
Next review date: 2026-09-04
This policy applies to all employees, agents, contractors, and third parties acting on behalf of Easyterms involved in credit and collections activities concerning retired clients with outstanding debts.
This Policy is for the Management of Retired Delinquent Clients and outlines Easyterms' commitment to effectively recovering outstanding debts from retired clients while ensuring professional, respectful, and compliant interactions. It establishes the overarching principles and responsibilities for managing such accounts.
This policy applies to all employees, agents, contractors, and third parties acting on behalf of Easyterms involved in credit and collections activities concerning retired clients with outstanding debts. It covers all stages of the debt recovery process, from identification to potential legal action or write-off.
Easyterms is committed to treating all retired delinquent clients with dignity, respect, and empathy throughout the debt recovery process, recognizing their unique circumstances.
All debt collection activities related to retired clients shall fully comply with all applicable national and local laws, regulations, and guidelines governing debt collection practices, consumer protection, and privacy.
The Credit & Collections Department shall establish and maintain robust procedures for the timely identification of retired delinquent clients and the prompt dispatch of clear, concise notification letters detailing the outstanding debt and available payment options.
The company shall prioritize proactive and consistent communication with retired delinquent clients, offering various repayment options and, where appropriate, exploring flexible settlement plans or payment arrangements tailored to their financial situation.
Comprehensive and accurate records of all communications, negotiations, and actions taken regarding retired delinquent client accounts shall be maintained for audit and compliance purposes.
While prioritizing amicable resolutions, the company reserves the right to pursue legal action to recover outstanding debts from retired delinquent clients if all other attempts are unsuccessful, strictly adhering to legal requirements and internal protocols.
All employees involved in managing retired delinquent clients shall receive adequate training on this policy, relevant procedures, ethical collection practices, and applicable legal requirements.
Senior Management / Credit & Collections Department Head: Overall responsibility for approving and overseeing the policy and ensuring its effective implementation.
Credit & Collections Department: Responsible for developing, implementing, and maintaining the procedures outlined in this policy, managing client communications, negotiating settlements, and ensuring compliance.
All Employees Involved in Collections: Responsible for understanding and adhering to this policy and related procedures, conducting interactions professionally, and documenting all actions accurately.
This policy will be reviewed at least annually, or more frequently if there are significant changes in laws, regulations, business operations, or identified risks related to debt collection from retired clients.