September 11, 2024

How to upload a debt

How to upload a debt
Step 1: Login to Kaizen Pay.
Step 1.5 (For Business). Go to the settings tab, and under Account hit Business Information. Now your business info will appear in correspondence and communications.
Step 2: If you don't have a primary funding account setup, you won't be able to upload a bad debt without one. This account will need to be verified with micro-deposits or you won't be able to receive any funds. To add a funding source go to Settings > Billing > Primary AccountOn the left, you'll see a tab labeled Debt Collections. Click on it please.

Step 3: Hit the Upload New Button in the top right. It's time to upload the debt as you see below. Here's what will happen next:Please check kaizen-payments.com/pricing for updated pricing.You should select/fill in all applicable fields here such as if you have a judgement, if the debtor is a tenant, and if the case is within the statute of limitations. After this, you'll want to select a Bid Auto Complete Level. This part is important because this section is the total amount that you're willing to lose on the bad debt for an agency to take over your bad debt. The collection agency will bid based off of this rate as well - so it's important you put a proper number here, we recommend between 18-30%.

Step 4: After you have finished uploading, you will need to upload documents/evidence. Upload the documents by hitting the dropdown and selecting upload documents. This section only takes in pdfs, so make sure you have the pdfs all ready.

Step 5: You're all done, just sit back and let the money collect.

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