Attempting to collect debt is stressful for any business, and a debt collection letter of demand is an important business tool. Dealing with customers that do not pay is an unpleasant task. So unpleasant, in fact, that many companies choose to let the money owed go unpaid. These unpaid debts add up over time, and can seriously damage a business.

So what is the first step?

If you want to get more formal in your demands to be paid, you should consider putting your demands in a ‘letter of demand’.  This letter will clearly spell out all the relevant details, such as how much is owing to you, and what for. Sending a letter of demand will be a clear indication that you are and will be taking firm steps to have your money recovered.

Do it yourself:  the pitfalls

Fact is, if your client was taking you seriously, they would have paid you by now, after numerous monthly statements and reminders.

Will they take you more seriously if you now write a more strict letter of demand? You may very well end up just prolonging the agony and stress of trying to collect the debt yourself. No need – just let the professional debt collectors handle it!

Get a professional debt collection letter of demand done

A proven solution is to ask DCQ to write a debt collection letter to your client, demanding the outstanding payment on your behalf.  We have demonstrated this over and over … a letter from us get the results despite our clients having tried the same thing over and over.

Why do we get results when you can’t?

As soon as your client receives a debt collection letter from us, they will know that the matter has been escalated and is now being handled by a professional firm.  It clearly indicates that you as the business owner is serious about collecting your money, and that you have engaged a professional firm to complete the process to final satisfaction.

At DCQ we will do just that. Starting with a debt collection letter of demand, we will follow this up with phone calls, and per your instructions, will negotiate repayments and even take the matter to court if that is what is required.

A Debt Collection Letter of Demand – very cost efficient

Instructing DCQ to send a debt collection letter of demand costs very little, and can even be done on a no-win-no-fee basis, with the potential upside of your debt getting collected professionally and speedily.

Further and Related Resources:

• Collection Agency
• Debt Collection Agency
• Debt Collection Services
• ASIC’s View on Letter of Demand
• Letter of Demand – Home Page

All businesses depend on cash flow. When the influx of cash is hindered by non-paying customers and clients, it can negatively affect your bottom line. When you request for payment goes ignored, there is help available – from a debt collection agency.

Debt Collecting is stressful

Let’s face it, attempting to collect debt is stressful. Dealing with customers that do not pay is an unpleasant task. So unpleasant, in fact, that many companies choose to let the money owed go unpaid. These unpaid debts add up over time, and can seriously damage a business. Best of all, using a debt collection agency can be done for in a very affordable way, with low fees.

Professional help proves to make a huge difference

Employing a debt collection agency to help you get the money you deserve is a smart move. Not only are the services they offer effective, but they save you a lot of time.  You should do everything in your power to collect the money that is owed to you. A debt collection agency can help you with this. Taking action on debt collection is the best way to keep you cash flow in the green. No need for the stress & panic – just let the professional debt collectors handle it!

Times are hard on businesses

The recession has been very hard on business owners. Loss of sales, higher operating and material costs, and delays in expansion are just a few of the problems owners are currently facing. The biggest issue business owners have faced during the recession, however, is loss of income due to bad debts.

The reality of the recession is that everyone is affected, not any specific business or town. This means that your customers are feeling the same financial pressures as your business, and are, perhaps, falling behind on their bills.

What are you to do? You cannot operate a business without cash flow, you cannot allow these debts to go unpaid, yet you are so busy trying to keep the business afloat you do not have time to pursue collections.

This is the perfect time to hire a professional debt collection agency. Allow someone else to collect the debt so that you can worry about keeping your business afloat during these challenging economic times.

If you are a small business owner who has survived the tough economic climate, congratulations. Did you know there is even more you can do to be successful? If you are not currently using a debt collection agency, you are letting money slip away. An agency that is trained to follow-up on your past due accounts can work wonders for your bottom line.

A debt collection agency can make the difference

For some small businesses, the difference between a good and a stellar year can come down to how many of their past due accounts were resolved. The right debt collection agency can take your earnings to the next level. Do you have the staff that is necessary to collect all those overdue accounts? Are they trained and experienced in the best ways to handle people that might be unwilling to pay? A debt collection agency has specially skilled employees who know how to work with the people and businesses who are on your past due account list.

Further and Related Resources:

• Collection Agency
• Letter of Demand
• Debt Collection Services
• ASIC’s View on Debt Collection Agency
• Debt Collection Agency – Home Page

Bad debts are a reality in business. Some customers simply cannot settle their accounts in a timely manner. This is where a debt collection agency can help. The agency can help small businesses secure debt repayment from their delinquent customers.

In some companies, there is a particular department in charge with debt collection. They are referred to as the first party agencies because they are part of the business. They are not a third party agency. Their main task is to manage the repayment of debts. They handle the delinquent accounts. They use various strategies to get payments such as emails and phone calls. Since the task of debt collection can be lengthy, costly and tedious, most small businesses would rather outsource this responsibility than create a separate department to overlook the matter. Fees can be very low, see here for debt collection fees.

The external collection agents are referred to as third party agencies because they are not part of the contract between the seller and the customer. These collection agencies utilize their resources to resolve delinquent transactions. They pursue the bad debt collection in behalf of the company. No need for the stress & panic – just let the professional debt collectors handle it!

Benefits of a collection agency

There are a number of benefits derived from utilizing these agencies in collecting unsettled accounts. These 5 benefits include the following:

1. Collect overdue payments. This is the most obvious benefit. The reason why businesses work with third party agencies is to extract payment from their delinquent customers. The debt collection agencies are very adept in securing the repayment of debts. According to a report made by the giant accounting company Pricewaterhouse Coopers, in 2005 alone, the third party collectors are responsible for collecting around $39.3 billion worth of payments.  These are US figures, but very good results are achieved for Australian businesses too.

These huge amounts of payment they had collected returned the capital to the companies. They kept bad debts from being written off. This does not only benefit the business in particular but the entire Australian economy as well. Returned bad debts prevent the prices of consumer transactions from increasing to make up for the loss in bad debts. This is substantiated by another study made by the Pricewaterhouse Coopers which revealed that the efforts of the collection agencies to secure the repayment of debts amounting to $39.3 billion translate to savings of an average $351 for every household in 2005.  Again these are US figures, but the same benefits would apply to Austrlia.

That is not only the benefit reaped. The government is also able to collect more taxes in the process. The collected debts form part of sales which is taxable. This adds more money to the government coffers which is needed to provide continuous services to the public.

2. Avoid straining customer relations. If the business has established a personal relationship with their customers, sending debt collection letters or making phone calls to collect the debt might be very awkward and inconvenient for the both parties. A debt collection company can prevent this unnecessary confrontation and maintain the relationship of the company and the customer.

3. Frees company time. Business owners or the company’s staff do not need to use a huge chunk of their time pursuing the debtors. With the help of the debt collection agency, they can focus their time and effort in building the business and its core elements.

4. Access to information. Debt collection agencies are able to research information pertaining to the client using advanced technologies even before they start collecting. This makes their task more efficient. They can also make an informed decision based on the researches they have made particularly on the financial status of the customer. This allows them to negotiate the transaction better and come up with a workable solution for the customer.

5. Legal process. If the collection agency has exhausted all means and the customer still refuses to pay, they may refer the case to a debt collector attorney. Most collection agencies have ties to these attorneys.

To summarize: it may be time to consider using a debt collection agency

Outsourcing debt repayments to a debt collection agency is highly beneficial to any business and is recommended to improve business cash flow and profitability. DCQ is the preferred and recommended debt collection agency for many businesses and is ready and standing by to help, and debts can be called in or submitted online.

Further and Related Resources:

• Letter of Demand
• Debt Collection Agency
• Debt Collection Services
• ASIC’s View on Collection Agency
• Collection Agency – Home Page

Efficient debt recovery will keep the cash flowing through the business. Using a professional firm to do the debt recovery is an ideal solution.

Debt recovery is an important part of the cash flow cycle for any business. By implementing some key steps on debt collection,  every business can ensure that the cash keeps flowing through the business.

Every SME should consider the impact of poor debt collection and recovery on their business. The cash flow impact of excessive debtor payment delays should be modelled by every business, and this will clearly show the dangers on cash levels.

A business has to continuously buy stock and pay its own creditors, pay salaries and other costs and when its debtors are not paying, its cash reserves will become depleted and inevitably the business will go bankrupt.

But asking for debtors to pay is difficult and using a professional firm to recover debt is the ideal solution. It removes the emotional barriers that a business face, and let them focus on running their business, leaving the details and complexities of debt collection to the experts.

The Importance of Debt Recovery

Debt recovery is an important part of the cash flow cycle for any business. By implementing some key steps on debt collection, every business can ensure that the cash keeps flowing through the business.

“By neglecting debt recovery, enormous pressure builds on the cash resources of a business” says Jos Basson, Managing Director of Debt Recovery Queensland. “Too often we see poor debt collection practices leading to total business failure, due to cash flow problems” he says.

Every SME should consider the impact of poor debt collection and recovery on their business. The cash flow impact of excessive debtor payment delays should be modelled by every business, and this will clearly show the dangers on cash levels.

A business has to continuously buy stock and pay its own creditors, pay salaries and other costs and when its debtors are not paying, its cash reserves will become depleted and inevitably the business will go bankrupt.

But asking for debtors to pay is difficult and using  a professional collection services firm to recover debt is the ideal solution. It removes the emotional barriers that a business face, and let them focus on running their business, leaving the details and complexities of debt collection to the experts.

About Debt Collection Queensland:

This company is a leading professional collection services specialist firm. It serves small, medium and large businesses in various industries, assisting those businesses to quickly and efficiently recover outstanding business debt. It has built a reputation in Australia for excellent customer service.

The guide was originally published in 2005 and reflects the ACCC and ASIC view of how relevant provisions of the Trade Practices Act 1974 and the Australian Securities and Investments Commission Act 2001 apply to debt collection conduct. It covers the significant changes since 1999 to industry practices, case law, jurisdictional changes and the level and substance of complaints made to the ACCC and ASIC.

Click here to view a copy of the Guideline or visit the ACCC website for further information.

The Guide is Copyright and Reproduced with the permission of the Australian Securities & Investments Commission.

Professional Debt Collection for Queenslanders – Debt Collection Brisbane to make a stand against troubled accounts

Debt Collection Queensland is a Specialist Debt Recovery Firm. We are highly quaified brisbane debt collectors with Inhouse legal counsel. We are a Debt Collection Agent and we act for Small to Medium sized businesses, Tradies, Institutions and Multinational Corporations.

DCQ is the Debt Collection Brisbane firm of choice for Queenslanders. We utlize state of the art debt collection technology to track, and extract payment from even the most difficult debtors. We have relationships and work very closely with Brisbane Debt Collection Lawyers to facilitate quick turn around on your collection matter. For national debt collection, we draw on te expertise of the Debt Collection Group – our national Debt Collection Division.

Our expertise include Commercial Debt Recovery, Consumer Debt Collection, High Volume Portfolio Debt Collections, Insurance and Medical Debt Recovery, Process Serving, Company Credit Checks, Property and Bankruptcy Searches. Our Recovery Agents are all Accredited, Licensed Debt Collectors. In short, Debt Collection Queensland can help you no matter how dire you think your situation may be! Debt Collection Brisbane is an effective and speedy process.

Contact DCQ – Debt Collection Brisbane irm of choice – don’t allow your clients to use you as a BANK!

More about Debt Collection Queensland here…

Debt Collecton Brisbane is here to help.

Here at Debt Collection Queensland, we see first hand how SME’s, even very profitable ones, quickly go out of business when cash dries up. Efficient debt recovery will keep the cash flowing through your business. Using a professional firm like Debt Collection Queensland to do your debt recovery is an ideal solution.Debt recovery is an important part of the cash flow cycle for any business. By implementing some key steps on Debt Collection,  every business can ensure that the cash keeps flowing through their business.

Debt Collection Queensland can help!

By neglecting debt recovery, enormous pressure builds on the cash resources of a business. Too often do we here at Debt Collection Queensland see poor debt collection practices leading to total business failure.

Every SME should consider the impact of poor debt collection and recovery on their business. The cash flow impact of excessive debtor payment delays should be modelled by every business, and this will clearly show the dangers on cash levels.

A business has to continuously buy stock and pay its own creditors, pay salaries and other costs and when its own debtors are not paying, cash reserves become depleted and inevitably the business will go fail. The good news is, Debt Collection Queensland can help.

But asking for debtors to pay is difficult and using a professional firm like DCQ to recover debt is the ideal solution. It removes the emotional barriers that a business face, and let them focus on running and growing their business, leaving the details and complexities of debt collection to the Debt Collection Queensland – the experts.

CREDIT DEFAULT LISTING

Failing to pay your valid debt or not making a suitable arrangement to pay your debt may result in our client instructing us to list a Default on your personal and / or company Credit File. This may impact on your ability to obtain finance in the future.

You should be aware that Banks, Credit Unions, and Financial Service Providers routinely use your credit file in their lending criteria to determine credit worthiness. If a default is listed, it will remain on your file for up to 5 years.

How to Pay

If you have received a Letter of Demand from Debt Collection Queensland, it is very important that you act on it. Ignoring the matter may result in additional costs being charged to you for our client’s legal fees including interest.

Credit Card/Phone Payments

Pay over the phone using your Visa or Master Card. Just contact our office on 1300 440 149. You will need:-

1. Your Reference Number; and
2. A valid Credit Card

Please note that Credit Card payments attract a 1.5% processing surcharge. Please ensure you correctly provide your Reference number. If you do not quote this number correctly, we will not be able to match your payment to your debt.

Electronic Funds Transfer

You can pay online by Direct Transfer into our Account.
Our Trust Account details are listed on the demand that we sent you – If have lost your letter, please call us immediately. Do not ignore the matter.

BPAY – Telephone & Internet Banking

Contact your Bank or Financial Institution to make a payment from your Cheque, Savings, Debit, Credit Card or Transaction Account.

Our Biller Code: 908640

Cheque

You can pay by cheque.

You should send us the cheque and the bottom slip of your Demand so that we can match your payment to the file.

If you do not tell us what the payment is for, we cannot allocate the money to your account!

Common Questions Frequently Asked by our Clients

If you have a questions, its more likely than not answered somewhere on this page. Please take a moment and look through this section.

If you have anything else that you would like to know, please feel free to give us a call.

Q. Who is Debt Collection Queensland?

please read below

Q. Why use a debt collector?

please read below

Q. We have never used Professional Debt Collection, can I use DCQ?

please read below

Q. When should I refer the debt to you?

please read below

Q. What is a Letter of Demand?

please read below

Q. What is a Phone Demand?

please read below

Q. How do I get the ball rolling to get my money back?

please read below

Q. What is a Credit Application?

please read below

Q. What is a Directors Guarantee?

please read below

Q. What is a Personal Guarantee?

please read below

Q. Why Debt Collection Queensland instead of a lawyer/solicitor?

please read below

Q. What is a Minor Civil Dispute?

please read below

Q. What if we dont have a signed written contract with our client?

please read below

Q. How will the Debtors Pay?

please read below

Q. If I use DCQ, am I locked into a contract?

please read below

Q. How long before you will get my money back?

please read below

Q. My client has disappeared – can you find them?

please read below

Q. How much is it going to cost me?

please read below

Q. Im sceptical – Why can you get it back and not us?

please read below

Q. What if you cant get it back?

please read below

Q. What if the debtor disputes the debt?

please read below

Q. What kind of files/matters/cases do you handle?

please read below

Q. The ACCC & ASIC Debt Collection Guidelines

please read below

Q. What is your process and how do you work?

please read below

Q. What is the SMART Client Facility & can I get access?

please read below

WHO IS DEBT COLLECTION QUEENSLAND?

Debt Collection Queensland is a Specialist Debt Recovery Firm. We are a Debt Collection Agent and we act for Small to Medium sized businesses through to Multinational Corporations. We are the Queensland division of Australia’s premier Debt Collection Firm called “The Debt Collection Group”.

We Collect Debt for National & International Clients. We work on a no collection no fee basis and do not expect our clients to pay if we cannot recover their money.

WHY USE A DEBT COLLECTOR?

Outsourcing your debt to Debt Collection Queensland has many benefits. It allows your business to receive cash sooner, focus on core functions and reduce operating costs. Bad debt only gets worse over time. DCQ knows how to get your money back and because we typically work on a no win no fee basis, it will cost you nothing up front to get your money back. It also frees up your staff and accounts department to focus on other jobs.

WE HAVE NEVER USED PROFESSIONAL DEBT COLLECTION, CAN WE USE DCQ?

You can and you should. Its a myth that only big companies use Professional Debt Collectors. Thousands of small businesses, Tradesmen and Sole Traders refer their debts to us on a daily basis. Sure it is true that big companies also use us on a regular and ongoing basis, but so do small business.

There is a very good reason why big businesses use us…. they like to get paid and they know that we can facilitate that. We collect and recover much more effectively than in-house accounts teams because debt collection is what we do, its all that we do.

As long as the debt is due and payable, we are happy to recover it for you.

WHEN IS THE RIGHT TIME TO REFER A DEBT TO DCQ?

The truth is, the earlier that you refer the account to us for collection, the more likely we are to recover it. Bad Debt only gets worse with time. Take action now and get your money back. Contacting us is the first step.

HOW DO I GET THE BALL ROLLING TO GET OUR MONEY BACK?

To start the collection process, you have 2 options. If you have a single debt, you can lodge it online or you can complete and return our Debt Submission Sheet. If you have ongoing needs you can do the same, or alternatively, you will be given access to lodge, submit and track your debts through our SMART Client Facility. Please contact us if you are unsure on where to go from here, or need further information.

WHAT IF WE DONT HAVE A SIGNED WRITTEN CONTRACT WITH OUR CLIENT?

Contracts can be verbal or in writing. If you don’t have a written contract with your client, don’t worry we can still help. Simply give us a call to find out how.

IF WE USE DCQ, ARE WE LOCKED INTO ANY CONTRACT?

No, absolutely not. Use us when you need to. There are no lock in contracts and you simply refer your debts to us as and when you need our help. By appointing us as your collector, you have the piece of mind that you have the systems in place should your clients default.

MY CLIENT HAS DISAPPEARED – CAN YOU FIND THEM?

Being Professional Debt Collectors, we have access to various databases, resources and search tools typically not available to the general public. As long as you give us a “lead” or something to start with, we should be able to find them… our jobs depend on it!

IM SCEPTICAL – WHY CAN YOU GET IT BACK AND NOT US?

The answer is simple. Proper Debt Collection requires specific skills backed up by reputation, ability, determination and resources. In short… debt collection is what we do… its all that we do. We like to think we are pretty good at it and hundreds of businesses will attest to our skills. You would be surprised how often we hear “I have sent them letters and left them many voice messages… why were you able to get a response and get my money back?”

Our income depends on us doing a good job and recovering your money. After all, if we don’t collect, we don’t get paid! We are highly motivated to get paid.

WHAT IF YOU CAN GET MY MONEY BACK?

In the event that we are unable to recover your money through our traditional debt collection methods, we will outline the next step in the process. This typically involves litigation and taking the matter through the court system. If we cant get it back, you are no worse off that before we started our recovery processes.

At the very least, you will be able to satisfy yourself that the debt is unrecoverable and that you have done everything possible to try and get the money back. You wont ever have to write a debt off wondering “what if I i just had one last attempt“.

If we cant get you a result, you certainly wont be able to get a result – we are that confident in our systems & processes.

WHAT IF THE DEBTOR DISPUTES THE DEBT?

Before we agree to act for you, you agree that the Debt is due and payable and that it has legally been incurred. We cannot and will not pursue someone who does not legally owe you the money. We are not in the business of forcing or coercing innocent people / businesses to pay money that is not due. If you tell us the debt is due and owing, we will pursue it to the full extent of the law.

That being said, one of the most common excuses (quite often even for legitimately incurred debts where there is a written agreement / contract) that we hear is “I dont owe the money“. Don’t worry, we have heard all the excuses in the book and our collectors know how to deal with them and get around the various issues that may arise.

If you tell us the debt is due and owing, we will pursue it to the full extent of the law. If the debtor disputes that they owe you the money, then they will have no problem in telling us why and putting it in writing. We are expert negotiators and can pick a lie a mile away! If they dispute it, then they will have no problem telling their side of the story when and if it gets to crunch time before a Judge in the Court Room.

WHAT KIND OF FILES / MATTERS / CASES DO YOU HANDLE?

If the debt is due and payable, we will take it on. We specialise in commercial debt recovery, however we do have many clients & files that fall outside that definition. Typically it is not viable for you to refer debts smaller than $250.

WHAT IS YOUR PROCESSES AND HOW DO YOU WORK?

Our processes typically takes 21 days – roughly 3-4 weeks. During this time, we send various letters and contact the debtor through various channels to extract payment. If we cant get your money back within this time, we will recommend the next best course of action.

WHAT IS THE SMART CLIENT FACILITY & CAN I GET ACCESS?

The DCQ SMART Client Facility is our online system for clients with ongoing collection needs. If you submit 3 or more debts with a cumulative total of more than $5,000 on a monthly basis, you automatically get free access to the facility. Its the easy way to streamline you own in-house collections and to improve your cashflow. Our regular clients realise that DCQ is as is as important to their business as their sales and marketing teams.

WHAT IS A LETTER OF DEMAND?

A Letter of Demand is a formal letter sent to the debtor demanding payment. These demands may be used as evidence if further court proceedings become necessary.

Our Letters of Demand are carefully drafted legal letters that demands payment from the Debtor. It serves a few purposes including:-

• Letting the debtor know that you have retained specialist Debt Collectors to recovery your money; and
• Warning and advising the debtor that if they fail to pay within a certain time frame or make a suitable arrangement to pay, that further legal action may follow;
• Creating a paper trail which  initiates a non threatening communication channel.

Our Demands are all sent on Debt Collection Queensland letterhead. The visual impact of our letters, coupled with our name, expertise and collection processes means that we are able to recover debts fast, effective and stress free.

How would you feel if you got a letter from “Debt Collection Queensland”?

Our clients have access to a complete record of all the Demands sent by DCQ. Our secure Smart Client online centre keeps our clients informed and up to date at all times. No more wondering ‘what is happening with this matter?’ We will also keep you updated by way of email updates and regular phone contacts.

WHAT IS A PHONE DEMAND?

A Phone Demand is where one of our trained professional debt collectors calles the Debtor. This usually happens after a Letter of Demand has been sent. The purpose of the phone call is to make sure that the Debtor got the letter of demand, and also to see when they will be making payment. Our collectors are trained to “get around” the everyday excuses that debtors give us. We have heard it all before and there are no excuse that we haven’t heard.

All our staff are professionally trained and monitored. Unlike some of our competitors, we do not use offshore call centers. We are based in the Brisbane CBD fringe suburb of Toowong.

Our clients have access to a complete record of all the phone demands made. Complete and accurate records are kept about each and every phone conversation. Our secure Smart Client online centre keeps our clients informed and up to date at all times. No more wondering, ‘what is happening with this matter?’

HOW TO GET YOUR MONEY BACK?

To recovery your over due invoices, simply contact us. It is our policy to action new matters the same day that they are received by us.

By now you have probably already given the debtor several weeks / months to pay the debt, threatening them that you will take them to court if the account “is not paid within 7 days”. Unfortunately, the debtor has called your bluff and that is why you are here. Let DCQ deal with them.

Appointing a professional debt collector to chase your money, sends a clear signal that you will not give up and that you are serious about collecting.

To start the recovery process, please contact us today. The longer you wait, the less likely it is that you will recover. Remember – most debtors at this stage are smart and cunning.

WHAT IS A CREDIT APPLICATION?

If you sell “on account” to customers, then it is likely that you get them to complete and fill in a Credit Application at the first point of contact. If drafted correctly, a Credit Application can help you (and us) when and if a client defaults on a payment. A properly drafted Credit Application will contain a Personal Guarantee, Charging Clause and a limited Power of Attorney Clause.

As always, prevention is better than Recovery. Before you sell on account to a new customer, you should do credit checks, trade checks and ensure that you have a binding agreement that can be enforced if needed.

We have helped many of our clients to implement an effective Credit Policy. Having an effective credit policy means that you will have fewer delinquent clients and that you will be able to effectively enforce any defaults. Do you really know who you are dealing with?

WHAT IS A DIRECTORS GUARANTEE?

Often when companies sell on Credit, it will be a requirement that the Directors of the client company give a personal guarantee.

This guarantee means that the Director can be held personally liable for the debts of the company.

A properly drafted Directors Guarantee can enable a company to ask the Director to pay the debt even before a demand is made on the company.  It is standard practice in the current environment not to sell on account without having a guarantee.

WHY DEBT COLLECTION QUEENSLAND INSTEAD OF A LAYWER?

Dont get us wrong, we have very strong existing relationships with some of Australia’s leading litigation law firms. However, we believe that prior to the expensive and drawn out exercise of going to court and litigating for your money, every effort should be made to get your funds back quickly, cheaply and effectively. Law firms simply do not operate this way. Just like we are needed, so are lawyers – if and when the time arises.

WHAT IS A MINOR CIVIL DISPUTE?

Relevantly, they are debt disputes. This is typically a claim to recover a debt or a liquidated amount of money. i.e. an invoice for unpaid goods.

HOW WILL THE DEBTORS PAY?

We demand payment into the Debt Collection Queensland Trust Account. This way, we know when the Debtor has made payment, and we have a complete record of the entire recovery process.

Our Trust Account is a heavily regulated statutory account that is monitored and the subject of regular audits by the Office of Fair Trading. Strict laws apply to the operation of a Statutory Trust Account –  including strong reporting requirements. By demanding payment into our Trust Account, it speeds up the recovery process as we can track exactly who has paid, when and how. We also offer various payment methods making it easy for the debtors to pay.

We make it as easy as possible for the debtors to pay. They can pay by

• Internet Transfer
• BPAY
• Credit Cards
• Phone Payments
• Cheque Payments

HOW LONG BEFORE I GET MY MONEY BACK?

Typical recovery time varies between 7-21 days.

Recovery timeframe depends on various factors including how much contact information you can give us about the debtor. Of course if we need to track down and find the debtor first, it will take a little while longer to get the cash back into your business.

What we can guarantee is that if the debtors are going to pay, they will respond faster to us that to you.

HOW HARD IS IT TO FIND A MISSING DEBTOR?

We have access to various sources to track the debtor down. By law, we are permitted to “find, or repossess, for a person any goods or chattels that the person is entitled to repossess under an agreement”

As you can appreciate, if a debtor needs to be located, it will take longer to recover your money. Some of the searches that we may need to do, may have a small fee associated with them. We will never incur these search fees without consulting with you.

HOW MUCH IS IT GOING TO COST ME?

Please check out our Fees page.

THE ACCC & ASIC DEBT COLLECTION GUIDELINES

All Commercial Agents (Debt Collectors) are governed by the Australian Competition and Consumer Commission’s (the ACCC) Debt Collection guidelines. The guide was originally published in ’05 and reflects the ACCC and the Australian Securities and Investment Commission’s (ASIC) view of how relevant provisions of the Trade Practices Act 1974 and the ASIC Act 2001 apply to Debt Collection procedures and processes.

At Debt Collection Queensland, our staff are constantly trained and monitored to comply with these strict guidelines.

View a copy of the Guideline by clicking here.

The above publication is a reprint of the guide jointly produced by the Australian Competition and Consumer Commission and the Australian Securities and Investments Commission. © Australian Securities & Investments Commission and has been reproduced with their permission.