When to Hire Debt Collection Service

If you are like most business owners and most people in fact, you believe in the inherent goodness of others. You want to believe that when someone tells you they will pay you what they owe you that they will really do it. You may even extend a line of

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A flowchart of the debt recovery process

Debt recovery is certainly not the most exciting process to develop for your small or medium business. However, it is important. If you have piles of unrecovered debt, it could crush your business. We certainly don’t want that. That’s why we want to give you an idea of a debt

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Use big data to boost financial reporting insights

The advance of technology is rapidly gaining pace. Companies are adopting technology across all areas of business due to its ability to streamline processes and drive efficiencies. One of the main ways tech is shaking up businesses is through the production of big data. With real-time data collected fueling evidence-based

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7 ways to improve the quality of financial reporting

Never underestimate the importance of accurate financial reporting. As well as making a business look bad to investors and other key stakeholders, it can result in financial loss and attract attention from ASIC and other regulatory bodies. There are a number of factors affecting the quality of financial reporting –

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What do debt collectors do outside the office?

Personal debt collectors are often thought to be entirely office-bound, spending all their time on the phone or the computer. However, this isn’t 100% true. As a service provider, debt collectors are engaged to work in your best interests and ensure you get the best possible outcomes. Sometimes that means

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Can payments be collected back from creditors?

The definitive answer to this question is yes. Liquidators can take payments back from creditors. But only in certain circumstances, and only with proof that the creditor received a preferential payment. If a company becomes insolvent all of their assets are liquidated. Payments are then distributed proportionally amongst creditors as

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Is your debt recoverable?

Recovering debts can often be one of the most difficult parts of running a business, and sometimes it can be make-or-break. A number of questions abound – how long before the debt is written off? How long can a debt be chased? The debt collection process normally comes attached with

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What to expect when hiring a debt collection agency

Keeping an open stream of income is important for any business. Salaries need to be paid, lights need to stay on, and food has to go on the table. And when it comes to reporting to your superiors — a number that puts your department in the black is always

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