With the current recession and reportedly South Africa in billion’s rand of debt including major corporations and banks feeling the pinch it has left our economy in bad state of financial affairs, which business owners and government aren’t willing to admit. The solution XTI Recoveries a debt collection firm with a unique approach to debt collection believes that businesses and government need to use debt collection as a means of recovering debt.

After a recent survey XTI Recoveries has found speaking to accountants and ex directors how businesses are dealing with losses and the shocking response? They either write off debts or hand over matters to attorneys which take months to recover adding on thousands of rand’s to have the debt recovered which is leading to liquidations and insolvency indicators of unpaid debt. The number of voluntary business liquidations increased by 71 % in 2014‚ while compulsory liquidations increased by 20 % over this period. This left XTI Recoveries puzzled why, would a business that currently has debt, create more debt, and the answer?

Business owners aren’t educated about the benefits of debt collectors nor do they trust them with their “bad books”.In the USA the leading economy President Obama has included in legislation the grave need and financial benefits of debt collectors towards the economy. “U.S. debt collection agencies were estimated to directly create $495 million of federal tax, $289 million of state tax and $221 million of local tax, for a combined tax impact of more than $1 billion.”XTI Recoveries believe that their unique business model and approach to debt collection is the future to minimize debts for the economy.

South Africans especially SME’s and start ups need to be educated about the benefits of debt collection. As SME’s and start ups are crucial future economic contributors to the economy. SME’s currently contribute 70% towards job creation, XTI recoveries feels strongly about assisting SME’s in minimising debt. 

For queries contact XTI Recoveries on:
Notes for editor Christi will be available for interview or any further queries upon scheduling

Contact details:
Christi Du-Plooy (owner)
Tel: 011 794 9877
Mobile 082 073 0594
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