Debt collection is a ProfColl specialty

 

Trying to chase down bad debt can be a difficult task at the best of times. In fact, debt collection is rarely a pleasant or easy task. Not only are you owed money for your valuable time and services, but more often than not, you also need to maintain a good working relationship with the individuals or businesses that owe you money. It’s a sticky situation and we know how difficult it may be to decide how to move forward.

 

ProfColl is here to help. We go beyond simple debt collection. We’ll tailor our debt collection services to your personal files. We ensure all of your debt collection needs are met in a most professional manner. ProfColl understands that sometimes working relationships need to continue, so we’ll get you the resolution that best fits your needs. But first, let’s take a look at who ProfColl is and why we’re the best at what we do.

 

A little bit about us

 

ProfColl is a professional debt collection agency with over 23 years of experience helping Australians recover their bad debt. Our experience has allowed us to help thousands of businesses successfully recover their debt across all industries – big and small. In fact, we’re so confident in our abilities that we don’t charge you a fee unless we have a successful resolution to your files.

With offices located around Australia in Brisbane, Melbourne, Sydney and Perth we can cater to all your needs. We offer multiple services relating to debt collection, including debt collection itself, legal action, in-house field agents, investigations, insolvency experts, and hardship services. Our in-house team covers these aspects so we may ensure you receive a personalised service.

 

What makes ProfColl the best?

 

We’re the best at what we do for a few reasons. With our extensive experience in the industry, we’ve streamlined and perfected our services. Our dedicated case managers and experts regularly think outside of the box when they encounter tricky debts. Hence, we can ensure the greatest chance of recovering your hard-earned money.

 

We’re also fast. So fast in fact, that we are acting on recovering your debts within 1 hour of receiving instructions from you. Soon, you’ll be well on your way to a resolution of your accounts.

 

We adopt an assertive, not an aggressive approach. Our assertive approach allows for the greatest chance of debt recovery without negatively affecting your reputation due to aggressive approaches. We know what works and we do it well.

 

We also provide your debtors with a number of different payment options. This flexibility allows for greater resolution of files and success in recovering bad debt.

 

What is debt collection and how does it work?

 

First, we’ll take a look at what debt collection is and how it works.

 

Debt collection is the process of pursuing overdue payments of debt owed by either an individual or business. Generally, a business will hire a company that specialises in collecting this debt to follow up on overdue files and attempt to get the money owed back. The debt collector will work for a fee or on a commission.

 

Debt collecting is a very specific process, with legislation governing what debt collectors can and cannot do. If an account has been overdue for long enough, businesses are able to hand them over to a debt collector. Once the file has been handed over it is then up to the debt collectors to contact the client in relation to money owed.

 

From there, debt collectors are able to make phone and email contact with the debtor to get the account resolved. If debt collectors are unable to make direct contact with the debtor then they will try to get in contact with friends and family of the debtor. This is entirely legal as long as they do not provide any specific details about why they are calling.

 

Some collections agencies will utilise the service of private investigators to track debtors down if the contact details they have on file are incorrect or out of date. If the debt collectors are unable to come to a successful resolution of the file they may take it a step further and lodge a claim with the courts. Of course, this is usually a reluctant and last resort.

 

The main goal of debt collection is to come to a professional and successful resolution of the account. And that’s at the heart of everything we do.

 

We offer tailored solutions

 

We think that offering a tailored solution is the key to success. The same approach is not going to be suitable for all cases. We go above and beyond to offer a personalised approach. Utilising over 20 years of experience in the industry, we analyse each case file and then decide on the best approach to take for a successful resolution. We have the resources to adapt to all scenarios throughout the collection process.

 

We’re also conscious of the fact that in many cases, a continued relationship with your clients may be required. Keeping this in mind, we have systems in place to simply act as an extension of your account’s processes. We want to preserve your relationship and reputation with your clients.

 

This flexibility to judge your files case by case is one of the reasons we are so effective. We work hard to gain you a successful resolution to many different cases while also maintaining your professional relationships with your clients.

 

We also understand that trying to deal with multiple people can be frustrating and stressful. This is why we allocate a dedicated case manager to you for all debt collection services and questions. Our dedicated long-serving account managers are experts at what they do.

 

At ProfColl you’ll have a single caretaker of your account and they’ll assist you in every aspect of our service. They make sure they’re up to date on everything from the names of your debtors and references, costs incurred, amounts owing, amounts recovered, to the status of all your accounts. By having one person up to date on all of your case files you can be assured that should you have any questions they’ll have the answer for you.

 

ProfColl works on a commission only basis

 

We don’t charge any joining fees or lock-in contracts. We do this so that we can cater to all types of companies, big and small. At a time of crisis, we know you need something to keep the worries at bay. You only need to engage our services when you have unpaid invoices that you want us to follow up on. We always promise flexibility with no lock-in contracts.

 

We are also a commission based agency. If we don’t get a successful resolution to your files, then we don’t charge for our services. That’s how confident we are in our abilities. On the small chance that we are not able to track down a debtor or they refuse to pay their overdue debt then we do not charge you. It’s as simple as that.

 

If you’re unsure of whether your file has a chance of being successfully resolved, we also offer a completely free no-obligations feasibility study. We can undertake this study for you before the commencement of any debt collecting actions and let you know the commercial viability of your debt.

 

How long do you have to pursue bad debt?

 

In Australia, the length of time that you have to pursue bad debt varies state by state. Generally, you have up to 6-years to pursue the debt; starting from the date the right of action occurred, or alternatively the date that the debt was last acknowledged by the debtor. So, for example, if you’re trying to chase up on an open file that a debtor last made a payment on 2 years ago, you have at least 4 more years before the debt becomes statute-barred by law.

 

In the Northern Territory, it varies. The statute of limitation is 3-years from the time of the last acknowledgement.

 

Once these periods end the right to pursue repayment or court action has expired and the debtor legally does not have to repay the debt.

 

The earlier you follow up on the unpaid file, the better chances there are at getting a successful resolution. So, the sooner you act the better.

 

Who uses debt collection services?

 

Most businesses will make use of debt collection services. Some larger companies will have in-house collections teams, but many smaller businesses will make use of debt collection agencies who specialise in tackling those difficult files. For many smaller clients the continuation of relationships with their debtors is also important. So, we understand that having a professional collection agency on hand who can go about the matter sensitively is imperative.

 

Debt Collectors can help out all manner of businesses


We’re not just an agency for the big businesses. We have processes to help anyone looking to get unpaid invoices sorted. We understand that even the smallest business needs the occasional helping hand to get those stubborn invoices settled successfully. Take a small trades business as an example.

 

Only having a few unpaid invoices may not seem like a huge problem to the larger businesses out there. But for someone running a much smaller business, such as an independent building contractor, every unpaid dollar counts. For every contract that goes unpaid, there is a cumulative effect that can eventually grow from a snowflake into an avalanche. For every file that remains unpaid, the business owner is losing valuable, hard-earned income. This can have an extreme effect on such a small business.

 

We believe that every business, no matter their size, should be able to get those invoices sorted.

 

Some frequently asked questions about debt collection

 

Debt collection can be an intimidating subject, especially if you’re new to it and don’t know where to start. Here are some of the more common questions that we’re asked.

 

What can and can’t debt collectors do?

 

Debt collectors have a variety of tools and systems they follow and adhere to. These can include getting in contact with debtors via phone and email, private investigators, fieldwork, investigations and even legal proceeding.

 

Debt collectors are not allowed to harass the debtors they follow up on. There are strict legal guidelines in place that govern when, how often and for how long a debtor can be pursued. These debt collection guidelines are in place to protect both debt collectors and debtors from unfair treatment.

 

How much do debt collection services cost?

 

Different agencies will have different fees and charges for their services. However, it is common for many debt collectors, like ourselves, to work on a commission-only basis. By working on a commission-only basis, you can be assured that we’ll do our very best to guarantee a successful outcome to your files. We only get paid when you do.

 

What are payment plans?

 

It is often the case that many debtors cannot afford to make a lump sum payment to finalise their owed debt. In this case, a payment plan may be the best course of action. A payment plan is an agreement between the debtor and creditor that allows a debt to be paid off at a certain amount over a longer period of time. This makes it much more manageable for the debtor to successfully repay the bad debt.

 

What is financial hardship?

 

Financial hardship is when you are unable to pay your bills on time, without resorting to credit. If you think you are experiencing financial hardship, the best place to start is by tallying up a personal financial budget. This will let you know exactly how much money you have coming in and going out. From here it is up to you to negotiate a suitable payment plan with your creditors that will help you tackle financial hardship.

 

It’s always best to stay in contact with your creditors and attempt to stay on top of your debts, even if you do have to negotiate payment plans.

 

We are experts in Debt collection Australia. When you want your files sorted efficiently, call on ProfColl for extensive professional experience.