commission or omission is the proximate cause of
all delinquent, distressed and bad accounts
Bad accounts receivable may either be any of the following kinds of receivables; secured or unsecured money claims, unsatisfied money judgments or simple debts which creditors/lenders may have no adequate manpower and/or time to collect, aggravated by ambivalent, inexperienced, under trained collectors, sales personnel.
The reasons for
uncollectibility or frustrations in collecting out
of court or through the courts ranges from;
unknown whereabouts, no apparent properties of
debtors, absence, lack of actionable documents,
failure to notarized and/or register legal
documents, closure of business operations,
apparent lack of financial means, incapability to
pay or absconding debtors, dishonored or bounced
checks, unpaid surety or performance bond and
aggravating reasons for increasing delinquency and
bad accounts receivable, commerce and industry
must make critical, pragmatic credit decisions
whether or not to continue extending credit. There
is no choice for credit grantors and sellers but
to continue granting and extending credit;
expeditiously, cautiously if they want to compete
not lose market survive, compete and grow. The
business world go round and grow via the grant or
extension of credit; which must always be
accompanied by no-nonsense collection efforts.
BAGCO CREDIT continues to operate successfully,
profitably and consistently grow within its market
niche by always being the no-nonsense credit and
collection company that it was and is, more than
four decades ago in good or bad times.
In the continuing education, training of the men and women in the acquisition of the much needed skills, art of credit and collection discipline, BAGCO CREDIT blazes and leads the way, not a follower or copycoat within its industry. It is one of the acknowledged institutions from where to acquire non-nonsense skills and art of collection.
For almost five decades, since 1963 when it began business as a credit bureau, BAGCO CREDIT metamorphosized into a no-nonsense credit and collection professional company that it is today. This is due principally to its lean and mean, no-nonsense operations, the faithful, unstinting support and patronage of its clientele locally and abroad and most especially its rank and file.
No Collection, No Charge Plan
BAGCO CREDIT’s more than four decades, trail blazing collection plan for any and all kinds of bad, distressed, delinquent accounts receivable pursued out of or through the courts. It is the model, envy of the collection agency industry.
single centavo is paid by the creditor as
collection fee if no money, property, service or
combination thereof as acceptable payment of a
creditor’s (client’s) money claim is made;
provided that, the suggested strategy, tactic of
collection is implemented.
That, the account endorsed to be
collected is not frustrated, withdrawn or
cancelled by the client for no valid, logical
and legal reason, particularly on fully or
partially secured collectible account
Inclusive of this plan is the collection through court of account(s) receivable where no acceptance, retainer and/or appearance fees are generally charge against a creditor/ client; except for the fees and expenses necessary, needed to file and pursue the case legally in court.
applicable cases, the transportation, board
lodging and necessary expenses of the attorney
or assigned counsel of record shall be for
creditor’s / client’s account if the venue of
the case is not within the Greater Metro Manila
For service fee and/or attorney’s fee to be charged against a creditor/ client for a favorable decision must be obtained in creditor’s or client’s favor said decision must be satisfied /collected against the debtor/ defendant; otherwise, no fee shall be paid to BAGCO CREDIT and/or its assigned attorney on the legal case.
This No Collection, No Charge Plan is available throughout the Philippines, if your venue of a legal action is under any of the courts in Metro Manila.
At present, our rates of fees for collection are as follows:
1. Collection Out of Court in Metro Manila and Central Luzon
For collecting any kind and age of accounts within Metro Manila, Central Luzon area the service fee for the Collection Company shall be 25% of the amount collected;
2. Collection Out of Court in Other Parts of Luzon, Visayas and Mindanao
For collecting any kind and age of account in other places outside of Metro Manila, and Central Luzon area the service fee for the Collection Company shall be 30% of the amount collected;
3. Attorney's fee agreed to be paid and/or obtained from the debtor, extra-judicially shall inure to the Collection Company's retained counsels to be deducted proportionately from any collection made;
4. Collection Service Fee for Collection through Court Action
The Collection Company shall charge 35% on any and all amount(s) collected and /or paid directly to the Client after the endorsement of the account. Any and all attorney's fees collected prior to a court action or those awarded by the court and collected shall inure exclusively to the account of the Collection Company's retained counsels, to be paid proportionally from any partial or full payment or collection made;
5. The service fee of the Collection Company to be paid out of any partial or full collection shall be the balance after deducting; court costs and attorney's fee; In the payment of the attorney's fee, the percentage prayed for in the complaint or the percentage agreed to be paid by the defendant/debtor and/or the one adjudged by the court and actually collected shall be used;
6. Service Fee for Extrajudicial Foreclosure of Mortgage or Replevin or Pledge
For extrajudicial foreclosure of mortgage or replevin or pledge, the Collection Company shall be paid out of the attorney's fees charged against the Mortgagor or in no case lower than 10% on the bid price whichever is higher.
If, the foreclosure proceeding shall take place outside of Metro Manila, transportation, board and lodging, and necessary expenses for the officer and/or representative who will conduct the auction sale shall be for the account of the Client. When a foreclosure become or turn into a judicial foreclosure, it is deemed a collection through court & the service fee rate provided in paragraph 2.4 applies.
Time Collection Force
CREDIT is the only
collection company that offers the services of
trained, experienced, bonded, full time collectors
or force for any lack or need for no-nonsense
field collectors. The need for full time
collectors may be due to resignation, strikes,
personnel pirating by other employers or no hire
policy and the like.
in this service plan is apartment, condominium or
building administration or management.
The cost and expense for maintaining a collection force is burgeoning. There is no let up in the demand of labor for increase in their salaries / wages, benefits and perks.
It's about time that you out source or contract your day to day collection efforts to a competent, credible, positively experienced and bonded collection force - the FULL TIME COLLECTION FORCE.
Our Full Time Collection (Plan) Force is the practical-cost-effective-efficient collection effort you may use for daily collection needs. It's available for as long as you need it; there is no hidden or unexpected demand for increases or adjustment in the monthly retainer charge. Our collection force are rigidly screened and selected, educated, trained regularly and bonded.
Our present monthly retainer fee, for non-motorized collector retained, exclusive of actual transportation expense and vat is; Php 15,00.00. For motorized collector our monthly fee, exclusive of actual fuel allowance and vat is: Php 18,500.00. The area of our Full Time Collection Force is within the greater Metro Manila area. The minimum period of retainership shall not be less than six (6) months.
Generally, the supervision and control of retained collector(s) is left with the client.
Collection is turned over daily to the client.
The work schedule of a BAGCO CREDIT collector is Monday thru Friday, 8:00 a.m. to 5:00 p.m.; Saturdays at 8:00 a.m. to 12:00 p.m.
The fidelity bond we put up is the average monthly collections of a collector.
| Business Credit
business, credit investigation services
encompasses not only credit investigation, but
also special purpose reports on market
data-gathering, property inspection and
and Collection Retainership, Consultancy
BAGCO CREDIT’s expertise can be
retained by any company for a specified period
of time either; as its trainor or retained
collection department and/or to audit its credit
and collection operations.
arrangement could lead to the formulation /
review of policies and procedures on credit,
collection operations vis-à-vis sales-marketing
operations for positive symbiosis for more good
Assistance and Services
There are many services an attorney is needed to do in sale, credit and collection transactions but generally do not perform, because they are petty or minor tasks. These tasks are relegated to the minor members of their firm if at all, they have. The inattention and/or lack of understanding, know how of how these para-legal tasks are done expeditiously efficiently may spell the difference between the effectiveness, enforceability or collectibility of money claims or services against obligors/ debtors.
The para-legal aspects of law practice is a profession by itself in the developed countries like; the U.S. Europe and in some Asean countries. In the Philippines, this aspect of the practice of law is not given much attention and importance. Most law firms if at all, do so rely on their messengers or clerical staff to do the tasks for their firm. How many an effort of collections or legal work are frustrated, stymied, unenforced or lost due to the absence, lack or under implementation of the necessary and required para –legal services on the transaction by or against the parties to money claims, credit transactions, legal works.
BAGCO CREDIT has been doing this kind service the last 30 years and have the pool of qualified, experienced and reputable attorneys and professional staff to do, act, represent any party/ creditor/ debtor in any of the tasks that require effective-efficient para-legal assistance, services.
The fee(s) charge is by the actual man
hour(s) exerted, net of tax, exclusive of
transportation, lodging, food, expense in
This way unproductive, unnecessary man hours is
prevented and avoided by a client. Our
para-legal services are all warranted to be
within the bounds of law, moral, ethical and
new, innovative credit service that assist and
help in the resolution, correction, rebuilding
of credit facts, information
of a person, firm or business entity to
be able to get back into the financial main
stream of the credit market.
In the Philippines, Business Assistance, Credit Corp., (BAGCO CREDIT) is the first and pioneer in the business.
| Tele-Collection /
Credit Verification Services
cost effective mass credit facts, information
verification for credit cards, telephone,
paging, multi-level marketing and utility
companies, outsourcing this aspect of credit
task is much more effective, efficient.
service will provide you personalized and
customized telephone collection efforts,
generate debt / payment awareness among
customers, get expeditious response, feed back
on debtor’s whereabouts, desire, willingness to
pay or not their debts.
Collection and legal demand letter writing is another service we can offer for interested clients.