In the fast-paced world of small business, managing finances effectively is crucial to maintaining stability and ensuring growth. One of the most significant challenges small businesses face is managing overdue payments and collecting debts. It’s not just about ensuring cash flow but also about maintaining positive relationships with clients. By engaging a professional small business debt collection agency, you are ensuring your business remains on solid financial ground and preserving the relationships. In small business collections, while legal action is still an option, we put greater emphasis on negotiation and flexible payment arrangements. While we try to recover your money, the goal often includes maintaining a positive business relationship and finding mutually beneficial solutions to preserve future business opportunities.
We provide debt recovery services ranging from $100 to $100,000+. Our services include dispute resolution, assistance with slow payers, and bad debts/write-offs.
We can custom-tailor a package to suit your small business needs.
You will be assigned an Account Manager who will act on your instructions once the debt recovery process begins.
We send reminder letters and letters of demand on your behalf.
Legal action is a last resort and only if your Account Manager has exhausted all areas of the collection process.
After you have selected the package that meets your requirements, we will send you an Authority of Service document through email for your approval and signature. The documents required will depend on the package you have chosen. If you have any questions about the process, our friendly staff will gladly assist you. Call us on (08) 9202 1000 for more information.
Your Account Manager will act on your instructions. If the debt recovery process is initiated, we will charge a commission only on collection.
At National Collections, legal action is a last resort. If your Account Manager has exhausted all areas of the collection process, we may offer legal action as the next step to recover the outstanding account. We will discuss the costs involved for GPC (summons). You may discuss the procedures involved and ongoing actions with our experienced legal department.
A. Small businesses usually start the debt collection process by sending a formal reminder or demand letter to the debtor, outlining the amount owed and the terms of payment initially agreed upon.
A. A debt collection letter should clearly state the debtor’s name, the amount owed, the original due date of the payment, invoice number (if any), any late fees incurred, and a deadline for settling the debt. It should also provide instructions for how the debtor can make the payment.
If you have opted for one of our packages, you can use our templates and letterhead or reminder stickers. Please ensure to maintain professionalism and courtesy while reminding the recipient of their payment obligations and providing an opportunity for dialogue in case of any issues preventing payment.
A. The statute of limitations for collecting a debt varies by location and the type of debt. It’s crucial to know the applicable statute in your jurisdiction to understand how long you have to legally pursue collection.
A. Yes, maintaining professionalism and respecting the debtor’s rights are crucial. Avoid harassment, use of abusive language, or any unfair practices.
A. After your account is assigned to your Account Manager for collection, please avoid contacting your debtor. However, in case your debtor makes a payment or contacts you directly, inform your Account Manager of the same. This will help in keeping your file updated and prevent possible misunderstandings.
