ENTRUST YOUR COLLECTION ASSIGNMENTS TO SMCI
SM신용정보에 당신의 추심업무를 맡기세요
DEBT COLLECTION ASSIGNMENTS
채무수집업무(=채권회수업무)
Debt Recovery
채무회복(=채권회수)
"Debt Recovery - Six reasons why you should leave it to the experts"
https://www.miltongraham.com.au/six-reasons-why-you-should-leave-debt-recovery-to-the-experts
Cash flow is the lifeblood of every business, and so it goes without saying that recovering what you’re owed is critically important to successfully cash management – and keeping the doors open.
There are preventative steps businesses can undertake to check on the credit worthiness of customers – such as credit checks with illion – that can help ease the burden of having to chase up late payments and avoid debt recovery. But even with strong credit management, some debts can remain outstanding, causing a drain on cash flow. If these debts remain unpaid, they come at a significant cost to the business – and that’s when it’s time to call in the experts at Milton Graham to help you recover what you’re owed and resolve those hard-to-collect debts.
1. DIY debt recovery can distract you from growing your business
Debt recovery can be a time (and labour) intensive task. Sending out letters, emails, texts and trying to reach someone on the phone all takes a lot of time and energy. Our customers have recognised that they’re better off delegating this task to a debt collection agency and focusing on growing their business instead.
2. Asking for money isn’t an easy discussion to have
Asking for money can be a challenging experience for many people, particularly when involving customer relationships. This has the potential to cause stress for a business’s employees and we find this often leads to activity of collecting money being avoided. Debt recovery agencies specialise in having these difficult conversations in a constructive manner, and we have strong training and support for our employees to help them get the best outcomes.
3. Using a debt recovery agency escalates the importance of the issue
Introducing a debt recovery agency into the process to collect money shows a clear escalation in the debt collection process; this in turn has a strong impact on people paying their overdue bills.
We use appropriate language and outline consequences of non-payment to debtors and this helps prioritise the payment of your debts first.
4. We can help set up and manage payment plans
In many cases, the reason outstanding invoices are not paid is that the debtor cannot afford to pay everything in one go. In these types of scenarios, we set up a payment plan to collect the cash over time. We remind the debtor when payments are due and follow them up if they miss a payment. This is a time-intensive process and our customers don’t typically have the systems to do this efficiently on their own.
5. There are regulations that govern how you should collect debt
The Australian Competition and Consumer Commission have issued debt recovery guidelines. These guidelines cover the volume of contacts and the things you are allowed to say in interactions with customers. Failure to follow these guidelines can have serious consequences and our strong focus on compliance is a key reason so many businesses engage Milton Graham to recover debt on their behalf while sticking to the rules.
6. We can help track down debtors who’ve gone AWOL
The ability to contact and communicate with a debtor is a critical step in the debt collection process. But what is the person/business who owes you money has changed their address or contact details?
As Milton Graham is part of the broader illion group, a leading data and analytics company, we have access to comprehensive business intelligence and proprietary contact information that enables us to find and contact debtors.
Need help recovering what your business is owed?
If you have a debt you’d like us to recover on your behalf, simply upload it here. Our highly trained debt recovery staff will get to work getting you what you’re owed whilst adopting a sensitive approach to customers who may be experiencing financial hardship.
We’ve also simplified our pricing to make it easier for you to calculate what you’ll get back when we successfully recover your debt.