Don’t Wait to Collect Overdue Debts.
Every sale is different, every relationship unique.
All debts have their own unique history and hopefully start with good Terms & Conditions of sale. What happens when your clients don’t pay on time or end up on your outstanding debtors list?
Overdue debtors can affect your cash flow.
Services or sales you have invoiced but not yet received the money for are potentially affecting your bottom line. The longer you leave to collect a debt, the more it eventually costs in terms of cash flow. Worst case scenario, the resources or costs to recover the debt become an additional cost.
Drive your debt recovery, not the other way around.
All relationships and business agreements differ, some are quite formal and others, a little more relaxed depending on the individual relationship. While freshly due invoices are easier to collect, the best approach for all your overdue debts… don’t hesitate, jump right into action!
Older debts in particular may have different challenges in recovery due to:
· aged of sale
· out-dated Terms & Conditions
· client relocated or no longer trading
· misplaced records
· change in staff familiar with transaction.
Our research shows that after 30 days 95% of bills are recoverable, and after 60 days, it reduces to 85%. The sooner you start your recovery process, the more likely a successful the outcome is.
Don’t write-off your old debts just yet.
Whether you have one or more debts, even if current or more than 60 days outstanding, it pays to review. Thoroughbred Recoveries can review and give you their honest opinion of likely hood of collecting all or partial outstanding debt.
There is more than one way to recover your debt.
Our processes are simple, we don’t like to over complicate things but we do like to understand how you do business. We pride ourselves on having great communication skills and agility to think quickly when building report with your clients. A personalised approach rather than pre-prepared script is in order to get the right solution.
The benefits of using a collection agency?
Recovering your debts should be easy, but it can take time and resources you may not have. Whether a long-term, loyal client or new, there is also some sensitive matters and how they’re approached can mean the difference for future dealings. We partner with you and act on your behalf, almost like an extension of your business.
No subscriptions or hidden fees
There is no charge to discuss your current position, and if we are engaged, we offer a simple and transparent fee structure, which will only come into play if we recover your debt(s).
Let’s get started!
Our team can review your debt portfolio today. Send us your details and we’ll be in touch: