Cash Flow Management

This system is ideal for managing the collection of smaller debts (of usually under $500.00), where legal action is not considered a viable alternative.

It is a low cost and effective way of communicating with your slow paying debtors and prompting them to bring their accounts up to date.

All debts are easily provided for collection via our Debt Collection Instruction Sheet, which allows you to directly input your debtor information on screen and to return the completed form to our office as an attachment to your email, or by fax, so that we may immediately initiate recovery action on your behalf.

All debt collection activity is undertaken at the highest professional standards in accordance with privacy legislation and industry codes of conduct.

You can also lodge your multiple debts via a downloaded spreadsheet, where this is arranged in advance with our office.

As part of ensuring you obtain the optimum level of service, upon receipt of your first instructions, we provide you with your own secure client log-in code and password, to give you 24 hour secure internet access on-line via our website, to view the real time progress of your accounts.

How We Operate:

The collection process is as follows:

Day 1 - Soft Reminder Letter:
Requests the payment of your account direct to you in a firm but friendly manner.

Day 14 - Second Reminder Letter:
Informs the debtor this is the second occasion that we have needed to write to request payment of your overdue account. In a definitely firmer tone than the first letter, we require that your account is paid directly to you by a specific deadline.

Day 28 - Telephone Contact:
In the absence of a satisfactory response to the above letters and subject to you holding telephone details for your debtor, we will endeavour to make personal contact and require immediate payment of your account. We will inform your debtor this is an alternative to further action that may include the commencement of legal proceedings.

Day 42 - Bad Debts "Won't Pays":
Accounts remaining unpaid after the above courses of action are genuine "won't pays", or are debtors who are un-contactable, perhaps due to having moved their address and/or changed telephone numbers.

At this point those accounts that are "won't pays" or uncontactable due to returned mail or apparently changed phone numbers, are automatically transferred to our advanced collection system for concentrated collection. Where your debtor has left the address, at our expense we will conduct basic enquires for your debtor's location. If as a result of tracing your debtor's whereabouts and/or our further concentrated collection activity, we are able to induce payment, we will recover your debt less a commission on collection only, of 30%.

For accounts that still refuse to pay after the above concentrated action, you can elect to move these to our Debt Collection Services system, as discussed below. We will contact you at this point for your instructions, or alternatively, when initially providing your debts for collection, you can advise us to automatically pursue the Debt Collection Services system, should the Cash Flow Management system not induce payment.

As the Debt Collection Services system involves legal action and the outlay of recoverable court fees, it is usually only recommended for account balances over $500.00, even though all court fees are added to the amount your debtor is liable to pay.

Costs:

The Cash Flow Management System carries a one-off account loading fee of $30.00 (plus GST) and thereafter a fee for the two letters and telephone attendances upon your debtor, of $20.00 (plus GST) per account.

Discounts are available for bulk lodgement of over 10 accounts at any one time.

No other fees are payable, unless the account is referred to the Debt Collection Services system as instructed by you, or the account is collected as a Bad Debt as set out above.

The "Debt Collection Services" Option:

As mentioned above, this option is usually only recommended for debts over $500.00, or where you hold details of your debtor's employment, which can assist in forcing early payment of your debt via a Wages Garnishee Order.

A sliding scale of commission is charged on the collection of your debt and any interest we have since been able to add on your behalf. All recoverable Court fees are reimbursed to you in full out of the monies collected off your debtor, in priority to collection of the debt itself.