Frequently asked Q&A’s
How much does it cost?
Depending on your terms of trade, we offer a no collection no fee service, costs are recoverable from the debtor if you informed them (when they bought your products or engaged your services) that late payments will result in extra charges. You can give notice in the contract, on the back of a cheque, on publicly displayed notices or price lists, or on their application forms for credit cards or store cards.
What do you do?
We will make every effort to firstly negotiate full payment of the debt, if we believe this is not possible, we will then negotiate a repayment plan. We have a robust contact cycle that if unsuccessful we will then discuss with you the best way forward including legal services or a personal visit.
Will the debt affect their Credit Rating?
After instructing us with collection, if the debt remains unpaid at 21 days and we have been unable to negotiate payment we will register the debtor’s details with the two prominent reference agencies Equifax (formerly Veda) and Centrix. This will adversely affect their credit rating for 5 years from the date of default.
So how long will it take?
Our aim is always to collect debts immediately however, as you would already be aware this is not always possible and there can be many variables that will affect the recovery process. We strongly recommend that generally, do what you say you are going to do when chasing a debt, carry out that threat if not, what is the message you are sending? If your debtor is not paying you or is making broken promises, then progress the collection process and let us help. We will deliver a prompt and consistent approach that will lead to full recovery or provide you with options on how to proceed with recovery.
Can you trace our debtor?
Yes. We have access to both private and public databases that will help with tracing individuals.