Account Collection – Experts in debt collection
Account Collections is a leading nationwide debt collection business that provides you with strategic professional support across the full suite of debt collection methods available.
Account Collections assist in improving cash flow and reduces internal operating expense. We customise collection solutions that fit your profile of industry and debtor characteristics.
Providing your credit terms and conditions allow it, we automatically calculate the recovery fee based on the account balance to ensure you receive the principal amount back. You do not need to add any collections fees to your account when referring to Account Collections. We will need to review a copy of your terms and conditions to ensure that you are entitled to add recovery fees to the account
Default loading is facilitated by Account Collections on behalf of its clients by arranging the uploading and updating of debt information into the national Credit Bureau. This is undertaken in agreement with our customers if the account has not been paid and the debt has not been disputed. It ensures that other creditors are aware of your claim and may hinder your debtor from receiving any further credit.
Generally, yes. We send an initial demand letter advising your customer that your account has been referred to us for collection and the account be paid within 14 days or further action may be taken. If full payment has not been received within 14 days, unless otherwise agreed, we will default list the debtor with a credit reporting bureau.
As a minimum, we need a copy of your terms of trade, your customer’s full name and last known physical or postal address. We need proof of the debt such as copies of contracts, invoices, statements or other documentation, plus information to identify your customer, such as their date of birth. The more information you have about your customer and the overdue account, the more effective our recovery processes can be.
This will depend on the amount of the debt and the type of legal action required. Please contact our Client Services team and they will discuss this with you.