Debt
The process to start the debt recovery process is fairly simple and mostly debt collection agencies offer the ability to submit your debt online, the main solutions and services offered by debt collection agencies are:
- Negotiated Debt Relief
- Consolidation of Debt
- Debt Collection & Debt Assistance
- Bankruptcy
- Judgement Debts
- Statutory Demands (Winding up)
- Attachment of Earnings (Garnish their wages)
- Seizure & Sale of Assets (Write of Execution)
- Debt Mediators & Debt Agreements
- Advanced Skip Trace (Search for Missing Persons)
- Credit Consultancy (Credit Worthiness)
- Credit Reporting (Credit Worthiness)
- Mercantile Enquiry (background and other debtors)
- Are you clocking up more debt?
There are 3 primary steps that you will follow during the debt recovery process, the specific names for each enforcement procedure of the debt recovery process will vary by each Australian state but will follow
- Stage 1 of Debt Collection – The initial demand via phone and tailored legal letters of demand
- Stage 2 of Debt Collection – The Legal Stage pursues the most appropriate method of recovery
- Stage 3 of Debt Collection - The enforcement stage effectively recovers moneys owed
No Collection of Debt, No Fee Charged
A number of debt collection agencies such as Consolidated Collections Australia work on a “no success no fee” basis so it means the risk of collection is shared between you the business and them the debt recovery team, on the successful recover of your money they agency will receive a commission based on the sliding scale shown below or call CCA on 1300 222 001
| Invoice Amounts Collected |
Commission Charged by Debt Collectors |
| $100 – $500 | 25% +GST |
| $501 – $2,500 | 20% +GST |
| $2,501 – $10,000 | 15% +GST |
| $10,001 – $50,000 | 10% +GST |
For any Customised commission for volume debts and debts over $50,000 call them 1300 222 001
