DEBT COLLECTION SERVICES

In 2006 HFS Corporate Services Inc. established its debt collection department in response to the requests of several of its clients and those of Hughes Fields & Stoby.

The department comprises four team members dedicated solely to the provision of debt collection services and asset recovery.

The company employs the best industry practices and the company’s collection protocol includes:

1. Repeated agent calls.
2. Agent visits.
3. Agent interventions.
4. Final demand letters.
5. Legal proceedings.
6. Enforcement proceedings including levy proceedings, garnishee proceedings against debtor’s income stream and the issuance of judgment summons.
7. Bankruptcy proceedings

HFS Corporate Services Inc. provides its clients with monthly reports of all activities undertaken by the company in relation to recovery of outstanding debts and the management of their portfolios.

The company is in the process of upgrading its collection capacity by the acquisition of state of the art electronic software, which in addition to improving the efficiency of the collection services already provided, facilitates twenty four hour updated web access by the client to their portfolios.

The features of the software include:

1. Automation and integration of all collection functions
2. Electronic storage of all and any documentation
3. Client web access
4. Automated work flow
5. Portfolio management
6. 100 % web enabled
7. Promised payments
8. Broken promise alerts
9. Letter generators
10. Agent call scripts

Technical support

HFS Corporate Services Inc. has its own internal electronic network which uses the latest law firm administration software available in the legal industry internationally ( Amicus Attorney V Server edition) as well as recent editions of firm accounting software PC law.

The Company maintains software support and maintenance contracts with professional software providers in Guyana.

Amicus sever edition has provided the company with a competitive advantage in the legal market place.

Professional Indemnity Insurance

HFS Corporate Services Inc. is one of the few companies in Guyana which maintains superior professional indemnity insurance to provide its clients with an additional level of security and comfort.

We believe that we are unchallenged in this area in Guyana.

International Associations. American Lawyers Quarterly ( ALQ)

HFS Corporate Services Inc. is a member of and is listed on the American Lawyers Quarterly.

The American Lawyers Quarterly is a directory of law firms which specialize in collections, creditors’ rights and bankruptcy. The ALQ directory has been the definitive source for attorney representation in the collection industry since 1899 (over 106 years). Collections are generally handled by ALQ’s listed counsel on a contingent fee basis. There are law firm referrals for all cities, county seats, and sizable towns in the United States, Canada, and most commercial centers throughout the world. American Lawyers Company standards have been maintained in accord with all published American Bar Association Rules and Standards for law lists.

ALQ’s website: www.alqlist.com

State Capital Global Law Firm group

Hughes Fields & Stoby, with whom the company is closely allied and associated, is a member of the State Capital Global Law Firm group.

The State Capital Global Law Firm Group (the "State Capital Group") is an association of independent law firms. State Capital Group member firms are located in all 50 U.S. state capitals and in capital cities, business markets and financial centers around the world. Member firm attorneys bring a broad range of skills and experience to your business. Those based in U.S. state capitals offer a unique knowledge of state legislatures and regulatory agencies. Those based outside the United States offer similar perspectives and abilities in their jurisdictions.

The State Capital Group assists members in sharing information about the practice of law and various business industries. Through continuing legal education and networking opportunities, attorneys develop relationships with other attorneys from around the world that ultimately benefits their individual clients. Member firm attorneys are confident in knowing the "go to" lawyer in other state capitals, commercial cities, provinces, and countries. " Member law firms practice independently and not in a relationship for joint practice of law."

The Future

HFS Corporate Services Inc. intends to play an active and significant role in the development of the credit and debt markets in Guyana, particularly the establishment of a credit bureau and the trade in and sale of debt.

We intend to provide our clients with enhanced opportunities for the sale of their portfolios so that they no longer have to be burdened with challenge of “running behind difficult debtors” but can convert these portfolios previously classified as challenged into a saleable asset.