Debt collection is a crucial aspect of managing a small to medium-sized business (SMB). It ensures you maintain healthy cash flow, avoid financial strain, and support the sustainability of your business. Here’s an expanded guide to the basics of debt collection, tailored for SMBs in New Zealand.  What is Debt Collection and Why is it […]

As a minimum, you should always capture the following details about a new individual customer: Their FULL name Current Address Mobile Number Email Address Your invoices are supposed to have at least the first two in most situations, so you need to capture that anyway. If you are giving any sort of credit, get their […]

Ask your accountant if writing off older debts (anything over 12 months) gives you a tax advantage. Each business is different. e.g. invoice basis GST Then pass those debts onto a debt collector. Why waste your valuable time on them. Keeps your books clean by reducing aged debtors size, and will cost you nothing. Any […]

I have had a couple of clients and prospect ask about commercial credit checks this week, more specifically whether they can run regular credit checks on key clients. The answer is “it depends”. Unless your account application specifically says you are authorised to run a credit check, you can only do so AFTER the client […]

Debt Collection Services Help Improve Your Cash Flow For many businesses, debt collection has become a nasty thorn in the flesh. And because of increased outstanding billing and accounts, most businesses end up wasting half their time chasing after clients for the payments for products and services already provided. In order to rid yourself of the […]

Are you tired of chasing slow payers? Sick of the excuses and lies; the broken promises? Are you looking at your overdraft or own bills and wondering how you can pay them because someone else has an outstanding debt owed to you? If you mutter a yes under your breath, then it’s time to hire […]

It’s happened to almost every dentist clinic or specialist medical practitioner at least once. The dreaded “runner” who has left without paying, leaving often large debt to collect. Not only has a timeslot been taken that could have been filled with an honest person who pays, but more often than not there are also out […]

We are introducing a new service called a Comprehensive Debtor Risk Assessment. It is a deep trading behaviour investigation and more than a credit check. It goes beyond the automated services other providers offer. A real person is evaluating information looking for patterns automated systems can miss. Before you offer significant credit to your new […]

The answer is “that depends”. Most debtors will pay after receiving the first letter that we send. We accept debts as little as $100. That would mean you recover $65.00 if the debtor pays but you cannot add cost. In most cases costs can be added, so you get the full $100. If it goes […]

Debt collection can be an increasingly annoying task, especially for small and medium-sized businesses which don’t have the resources to chase after their debtors. Even if you decide to put together an in-house debt collection team, you will be wasting more money and recovering less of it. And on top of this, you will have […]