Frequently Asked Questions
Q. An Insolvency Practioner has advised of a Creditors Meeting for one
of my Debtors. What should I do ?
A. We can complete the necessary paperwork (Proof of Debt & Proxy
Form) for you. We can also attend the meeting on your behalf (as your
Proxy) and report back in easy to understand terms on what occurred and our recommendations
on what further action is required.
Q. Can you help us improve our own internal Credit Management and Debt Collection
A. Yes, we have very experienced Credit Consultancy Managers, who are available
to visit your office/s and provide a number of Services. These include:
- review ATB Debtors ledger/s & billing system;
- reviewing your account application forms and terms and conditions;
- assessing and suggesting improvements to your paperwork (Bills, Letters, Statements etc);
- reviewing your follow up collection process and recommend adjustments;
- train your staff in successful telephone techniques;
- analyse and recommend improvements to your computer collection system;
- advising on your Staff capabilities;
- recommending KPI's for ongoing monitoring of performance.
- if you don't have the staff, we can help on a fortnightly basis, to do your
Collection process in your Office/s.
- we can also recommend a Specialist Personnel Agency for your Accounts Staff needs.
Q. How much does it cost to have my overdue account/s collected ?
A. Costs will vary from one client to the next. We will discuss them with you
and come to an agreement on the Commission % rate (+ GST) and other Expenses.
After considering the Volume and dollar Value of the overdue account/s to be placed for collection.
Q. How do we approach collecting your overdue account/s from your customer/s ?
A. Our staff are very experienced in Credit Management and Debt Collection techniques;
they use a balanced, polite but assertive approach to collecting your debts.
They are always conscious of the need to retain your existing relationship with your customer,
while reminding your customer of their obligations to pay for the goods and services you have provided,
in a timely manner.
Q. Who should I choose first to collect my overdue debts; a Lawyer or Debt
Collection Agency ?
A. We suggest you contact a Debt Collection Agency (e.g. Effective Recoveries), to be the 3rd Party involved in collecting
your overdue debts. There is often the need for a mediator / negotiator to resolve an unpaid account.
We understand the need to be very cost conscious whilst we are establishing whether the
outstanding accounts will be paid or not. Legal Action is used as a last resort, as it is quite
expensive and time consuming. If we are unable to collect your debt, we can organise our associate
Law Firm to handle these proceedings.
Q. Do we have to pay for Debt Collection services, if you are unsuccessful in
collecting my debt ?
A. There would be a small nominal fee charged, to cover some basis expenses,
which would also be discussed and agreed with you before commencing to act on your behalf.
Q. How long will it take to collect my debt/s ?
A. As each Debtor, the amount to be collected and the age of the debt/s differ - so
will the time it takes to collect . It may take only a couple of days or it could go on for
weeks before successful collection of your debt/s. The earlier our involvement the better the chance of collection.
We would suggest you contact us for assistance, after your own follow up collection procedure has not
been successful in collecting your debt (around 75 to 90 days from Date of the Invoice).