Money can be a tricky subject at the best of times. It becomes even more so when it’s money that is long overdue. Trying to collect on these overdue debts can make many people extremely uncomfortable and left wanting to deal with it later. However, keeping in mind that cash flow is key, putting off debt collection isn’t the best course of action. With this in mind, debt collectors Sydney are more important than ever.
It’s when you’re sorting through overdue invoices in despair that it helps to have ProfColl’s experience on your side. Don’t let the hassle of debt collections get in the way of you getting your hard earned cash back. When you have a professional debt collection agency to turn to, what was once a nightmare turns into a small business dream. No more worrying about a cash flow that is looking less than healthy. Instead, go back to focusing on running your business and carving out your niche. ProfColl has your back.
The growing importance of debt collectors Sydney
The rate at which small businesses and startups are failing are astronomical. Making up for 97% of the Australian market, it’s estimated that up to 80% of these businesses and entrepreneurs will fail within the first 18-months. These stats are huge. When a fledgeling business is limited by budget, the problem of cash flow can have dire effects if not addressed.
And, it’s easy to see how cash flow has become such a significant problem to so many small businesses. The national debt crisis is reaching all new highs in a society where consumerism is taking over. With the emphasis on “newer and bigger is better” many people are making purchases that they simply cannot afford. Naturally, many are relying on credit. At the end of the month when these debts become due, it’s not surprising that many cannot afford their repayments.
Whether people are taking out credit cards, car loans, mortgages or store credit, many creditors are not receiving the money they’re owed and cash flow is suffering. For those small start-ups, this is having a dire effect. It’s leading to many small business owners having to dip into personal funds to keep their businesses running. And still, others are having to close their doors to the public. Clearly, something needs to be done to help the little guys keep treading water and stay above the debt wave.
ProfColl leads the field in debt collections Sydney
Utilising over 23-years experience in the debt collection industry, ProfColl has become the best in the business. We’ve seen and done it all. In order to be the best, we’ve tweaked our services to include the best approaches. We’ve created a service that is truly spectacular. You can rest assured that those tricky debt files that have you cringing will be approached in a creative and flexible manner to allow for the highest chance of success. Simply put, we’re damn good at what we do.
We know that cash flow is key. The first few years of trading are incredibly important in a businesses lifetime. So, it’s crucial to hit the ground running in terms of a healthy cash flow. After all, if that cash isn’t going back into your business where it belongs, you may as well be throwing it away. When you consider the fact that on average, each small business is owed approximately $38,000 in overdue invoices, it’s easy to see how many small businesses simply cannot continue to operate.
With this in mind, it is easy to see how keeping your business afloat may not be the easiest task. With these unsustainable debt levels and a consumer society, it pays to have a good debt collection agency for small business requirements backing you up. This is where ProfColl can help you out. Don’t let your business be rendered a mere pipedream or worse, a statistic. Contact us now and find out how we can help you out.
ProfColl are Australia-wide
With offices all around Australia, we’re well-located to help out as many Australians as possible. Need a hand with your debt collections? Get in touch with the debt collection Brisbane team, debt collectors Melbourne team, debt collection Perth or debt collection Adelaide teams and see how they can help you move those tricky debt files from the “too hard” pile to the “done” pile.
Don’t be put off by the idea that you can’t find a good debt collection agency near you. ProfColl is Australia wide and with such extensive experience in the industry, ready to tackle your debt files.
We understand your needs
In many cases, especially when running a small business, you may need to maintain a relationship with your clients, even if you do need to undertake debt collection proceedings against them. This is entirely normal yet can be fraught with difficulties. Some people are not going to want to cough up the money they owe you and this can lead to a tense and difficult situation for you, the business owner. With this in mind, ProfColl have developed a professional, confident approach that has a high chance of successful resolutions.
With the prevalent idea that “the customer is always right” being drilled into us, it’s easy to see why this would make many business owners uncomfortable. Especially when with just a click and a scroll our customers can post scathing reviews and comments online that have the power to affect our businesses public image. Dealing with something potentially as fraught as debt collections can seem like a minefield!
When faced with this situation it’s time to call in the professionals. ProfColl has adopted a firm yet flexible approach that will ensure your continuing relationship with your clients remains a positive one. Gone are the days of the debt collectors Sydney knocking down peoples doors demanding debts be paid then and there. These archaic practices have been revolutionised and developed into a creative, effective and successful approach that maintains your good reputation with your clients.
Our flexible repayment system is a huge benefit to your debtors. With the options of online repayments and repayment plans, getting that debt settled is easier than ever for your clients. The possibility of making lump sum repayments or agreeing upon a flexible repayment plan assures that this flexibility will help maintain your good reputation.
How does debt collectors Sydney work?
Debt collectors Sydney can be a tricky business if you aren’t familiar with the legislation that governs what can and cannot be done. This legislation provides clear guidelines for debtors and collectors. With this in mind, many Australian businesses are choosing to outsource their debt files to professionals in the industry.
Once an invoice has been overdue for the minimum required time it can then be handed over to a debt collection agency in a final attempt to get it settled. It is now up to the debt collection agency to follow up on the debt and organise for its successful resolution.
The debt collection agency can now attempt to get in touch with the debtor via phone and email. If they are unable to contact the debtor, they will then try contacting their family and friends. While the debt collectors are not allowed to pass along any specific information about why they are looking for the debtor, they are allowed to make contact to confirm that they have the correct information on file for the debtor.
On the small chance that they haven’t yet managed to resolve the debt, collectors can then take the next step in the process. They are able to utilise the services of a private investigator to track the debtor down.
The final step is to lodge a claim with the courts. This is provided they have not exceeded the statute of limitations of repayment. This is always a last resort, however, and will only be taken reluctantly if all other methods have been exhausted.
What kind of businesses can utilise ProfColls services?
ProfColl are out to help any Australian business that needs a bit of a hand with their debt collecting services. From small to large, Fortune 500’s to the small cafe down the street, ProfColl are here to help. Whatever your size, we can extend the helping hand you need. Don’t let those invoices turn into real problems just because you think that your business isn’t big enough. Get them sorted now.
In such a cut-throat business world, cash flow can be the difference between success and failure. So, it’s incredibly important to ensure that you follow up on those overdue invoices. Unpaid invoices are cash that is not going back into your business. This may not seem like a serious problem when it’s only one or two invoices, but it’s a problem that can escalate. Consulting professional debt collectors Sydney can help ensure that they don’t turn into a huge problem down the road.
This is especially true if you’re a small business or a relatively new start-up. When you first start trading, every dollar is going to be essential. Every cent is going to go into the upkeep and expansion of your new business, so it stands to reason that having overdue invoices are going to be nothing but detrimental. You already have enough on your plate. Let ProfColl be the debt collectors Sydney that you turn to.
So, regardless of your business size, get in touch with ProfColl now and get the debt recovery process started. Let us get that cash back into your business where it belongs and stop the stress of unpaid invoices.
Why hiring debt collectors Sydney is worth it
A lot of businesses will put off contacting debt collectors Sydney as it just doesn’t seem worth the trouble. After all, they’re only getting back a fraction of what they’re owed, right? They think that after commission is paid to the debt recovery team, the resulting sum really isn’t worth the effort they had to go to to get it resolved. Well, we’re here to put a stop to that type of thinking.
We encourage our clients to utilise an indemnity clause in their contracts with their clients. An indemnity clause is a contractual transfer of risk between the two parties in the event that a loss occurs. If you haven’t got this in your contracts with your clients yet, we highly suggest including it in your future contracts. But how can this help you ask?
So, say you are utilising the services of professional debt collectors Sydney for an overdue debt file. The client has previously signed your contract with an indemnity clause included. This means that you will be compensated for any legal fees or commission that may be accumulated by the debt recovery proceedings. These fees will essentially fall on the client.
If your current overdue invoices don’t have this indemnity clause included, debt collector Sydney services are definitely still worth it. As mentioned above, cash-flow is key. Even if you’re only getting a portion of your debt returned to you, it’s still cash-flow that is going back into your business.
When this is paired with the fact that we will only charge for our services if we have a successful resolution of your files makes debt collection 100% worth the effort.
Some final thoughts on debt collectors Sydney
ProfColl are the leading debt collection agency for a reason. With 23-years of experience up our sleeve, we know what does and doesn’t work. With an activity that can be as frustrating as debt collection, it’s important to go to the best. The national debt crisis may be reaching new highs, but that doesn’t mean your business needs to suffer for it. Get in touch with ProfColl now to get those debt files sorted.
Let our creative, out of the box thinking and flexible approach speak for itself. If you need an affordable, creative agency that will take care of you from the get-go and go that extra mile, then ProfColl are the debt collectors Sydney experts for you.