So many outstanding accounts, you don’t know where to start?

Posted on September 24, 2012 by Catherine


CollectIT’s client (an Accountant) had a pile of files that he had not been paid for and was procrastinating about whether to pursue them or not. He decided he had nothing to lose by sending them in to CollectIT and so forwarded 11 files.

Result: Within the first 3 days one file was paid. By the end of the first week another file had been paid. After CollectIT had been working the files for only 6 weeks, 6 out of the 11 files had been paid and closed. This amounted to $10,500 for the Accountant – definitely worth his while getting CollectIT involved! And because the accountant had terms of trade with each of his clients, using CollectIT’s services has cost him $0!

Of the remaining 5 files, 3 went through court.  Judgment was obtained in our clients favour and these debts have been settled in full or the debtor is repaying as per the court order.  The other 2 files are still being pursued by CollectIT.

Our client is $15,500 better off and very happy with CollectIT’s services and results.

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Relationships and Debt Collecting

Posted on September 19, 2011 by Maria

Have you ever worried about losing clients because you have chased them too hard to pay your invoices? Maybe you don’t mind? Maybe you feel that if they don’t pay your invoices on time that you don’t want them as customers.

The question is, can you afford to lose them?  Is your business successful and financially secure to the extent that it doesn’t matter if customers don’t return?

Many creditors CollectIT speak to are anxious to preserve relationships with their clients.  They worry that handing their debts over to CollectIT will mean the end of the customer relationship.  Many creditors have experienced this first hand when placing debts with other debt collection companies.

At CollectIT, www.collectit.co.nz, we pride ourselves on striking the balance correctly.  We aim to find out at the outset how important it is for you that relationships are preserved, and no matter what, we act professionally and courteously at all times in our dealings with debtors.

Sometimes debts are repaid over a long period of time with the agreement of the CollectIT client.  By the time the debt is repaid CollectIT feels like they know the debtor just as well as the client CollectIT has been working for!

Below is an example of some of the emails we have received from debtors (names have been deleted in accordance with CollectIT’s confidentiality policy):

“Please find attached receipt of payment made this morning for full and final payment of invoices for……   I would like to take this opportunity to thank you for your understanding and professionalism in dealing with me on this matter”.

So you see, here at CollectIT we love your debtors too!  This particular debtor owed almost $17,000 and took 7 months to pay it off. Preserving relationships and Debt collecting are not necessarily non-compatible.

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Building Industry Mayhem!

Posted on May 12, 2011 by Maria

Our Master Builder client had built a beautiful new home for his client.  When he sent in his final invoice, there was no payment forthcoming.  The builder had undertaken a labour-only contract and so was unable to withhold the Code of Compliance pending final payment as the client was organising this herself.

CollectIT became involved.  The debtor promised she would pay once the Code of Compliance was received from council in about four weeks.

Four weeks later the debtor would not return phone calls or emails.  When eventually contact was made, the debtor was apologetic and promised the money.   But as time went on, it was increasingly evident that this debtor had no intention of paying.  As a result CollectIT filed documents in the District Court and obtained a court order against the debtor.

This order was completely ignored, so CollectIT enforced it.  Our client knew the debtor had a car, so after some investigation work by CollectIT, a distress warrant was prepared and issued and the bailiff was asked to seize her car.

Result: The debtor had a bank cheque for the bailiff when he turned up at her door. CollectIT’s client was paid and very happy with the result.

 

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