Collecting Debt
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Ormita offers a unique programme which allows business members to trade bad debts / monies owed to them for products or services which are needed to reduce their current cash costs. This helps to eliminate the problems of overdue cash, costly collection fees, interest charges and risky debtors.
Help Your Customer to Reduce Their Existing Cash Outlay So They Can Pay you in a More Timely Manner
By encouraging your customers to become part of the Ormita Commerce Network you are assisting them to reduce their existing cash outlay so they can pay you the cash they owe in a more timely manner. By offsetting a minimum of $2,000 of their cash costs every month your customer frees up their existing cash and can divert it to pay off their debt to you.
You to retain an existing cash-paying customer and they grow their business with your help.
Taking Product in Lieu of Cash
By taking product in lieu of cash from a cash-poor or bankrupt customer, Ormita members can virtually eliminate a business loss that would otherwise be unavoidable.
The merchandise or product obtained can on-sold via Ormita, leaving your organization with credit to spend on items or services that would normally have been paid for with cash.
Working with Ormita to Collect the Debt
In some instances Ormita may accept products directly from your debtor and pay you the full value of these in credits without the need for any product handling or onward sales.
In these instances, Ormita will collect the product and resell it through our network of merchants while crediting you at 100% of the retail market value of the items collected.
for those difficult situations
Ormita has lawyers, debt collection services and paralegals within its membership who can help business members recover their receivables.
