Debtcare

A collections business with a verification arm

Debtcare is an Indian company that began in 2008 and now works in debt collection, corporate recovery and verification. Its clients are banks, non-banking finance companies, corporate companies and fintech companies, and it also checks the backgrounds of individuals. Its pitch is that modern problems need modern solutions, using technology and systematic process to help people protect their money.

Collection and recovery

For Indian and international banks and non-banking finance companies, it offers skilled debt collection using up-to-date technology and software. Corporate recovery means giving an early assessment of problems such as a sudden fall in cash flow or unpaid debts and suggesting solutions. The company also explains what debt collection is on its site, setting itself against the stereotype of the intimidating collector.

Verification services

• Background and identity checks: verification of employee claims, since the company notes that applicants sometimes invent credentials to win jobs or pay.
• Matrimonial verification: discreet pre-marriage checks on education, employment history and address.
• Discreet verification: confidential checks tailored to specific needs.
• Tenant verification: screening, including criminal background checks, for landlords who rent to strangers.
• Credit reputation reports: an analysis of whether a prospective business can obtain credit, on what terms and at what cost.

How the company grew

Debtcare was incorporated as a private limited company under the Ministry of Corporate Affairs in 2008. It won four banking portfolios by 2009 and added two more within a year, and it had a team of ten by the end of 2010. It describes receiving an award for best audit and compliance in the highest category, and it expanded to Karnataka with non-banking and loss-on-sale portfolios, then to Tamil Nadu, where it won a best first-half performance award. Residence-based field executives followed in smaller towns in the south.

Newer lines and people policy

After a decade it began credit-risk-unit work for banks and non-banking finance companies and took on fintech portfolios. The company says it added provident fund and state insurance benefits to employee payrolls and introduced young people to the banking collection industry.

Debtcare is an Indian firm that provides debt collection, corporate recovery and verification services. It works with banks, NBFCs, corporate companies and fintech companies.

Services

• Debt collection: collection services for Indian and international banks and NBFCs, using technology and software.
• Corporate recovery: early assessment of cash flow problems and unpaid debts, with suitable solutions.
• Background verification: checks on individuals, for example to catch false claims of education or employment.
• Tenant verification: tenant screening, including criminal background checks.
• Credit reputation reports: analysis of whether a business can get credit, the terms it would receive and the cost of borrowing.

Who it works with

Banks, NBFCs, corporate companies, fintech companies and individuals who need background checks.

Key facts

• Based in: India
• Founded: 2008, as a private limited company
• Team: 10 staff by the end of 2010