A "debt" is a right owned, on the basis of a contract, by a person called "creditor", towards another person called "debtor", who owns some money or service to the "creditor". Debt collectors are companies who collect unpaid debts for others ("creditor"). Collection software, like iMX, facilitates the claim process. A debt collection is a type of financial account thats been sent to a third-party debt collector. A debt collection is a process which can be either amicable, or following a legal actions and iMX is a debt collection software solution covering all actions of this process.
- All the amicable and legal procedures, as well as the situation and actions of the various involved parties of the case are documented in different parts of iMX.
- All this information is processed and analyzed by the Expert System procedures.
- Depending on the situations and events, different Expert system procedures are starting, progressing, freezing or ending.
- The expert system procedures give indications to the case manager what actions to undertake or trigger automatically actions generating important output from iMX, e.g. letter, fax, sms, e_mail, phone call to different involved parties of the case, addition of involved parties, interfaces, etc.