So, you’re considering engaging a debt collection agency to secure unpaid funds? Chances are you have spent a considerable amount of time chasing payment already. You and your team are probably frustrated and a bit desperate wondering whether or not you’ll be able to recover the unpaid funds. You’ll be determined to pursue the debt, regardless of the emotional impact and you may be starting to realise that some of your systems and processes, contractual terms and so forth need to be reworked to make sure this situation doesn’t arise again.
Add to that; you may well be feeling a bit sheepish about having to get on the phone and talk to a debt collection agency, perhaps feeling that you’ve failed in some way.
All of these experiences are normal. The reality is, if you are considering engaging a debt collector, it’s because the amount owing is material to your business, and you’ve exhausted the other options available to you.
It is absolutely essential that you find a way to address the problem of unrecovered funds and the time spent pursuing them. If you’re exhausted by your attempts to recover the funds and simply can’t contemplate going through the whole thing in detail with someone on the phone, eCollect’s Debt Terminator service is probably the ideal next step.
Debt Terminator is a sophisticated software application that, at no cost, allows you to easily load in all the details of the debt owed to you and then recommend and provide a professional strategy, based on the collective experience of eCollect’s industry experts and associated legal professionals. This will help you determine the likelihood of debt recovery, and the best way to progress to get you paid, including the likely costs of progressing to debt collection.
If you then choose to engage eCollect to pursue debt recovery, we will assign an industry expert to you who deals with debts every day. They will partner with you to sift through the available information, build the case for debt recovery and apply our industry-leading skill, experience and resources to ensure that you get paid.
Of course, our ability to act for you is completely dependent on the availability of the minimum amount of information required to build the case for pursuing the debtor.
Three things are required for successful debt recovery.
1: Contact details for the debtor
2: a true and correct debt
3: the debtor must have the capacity to pay
At eCollect we are also committed to partnering with you to assist you in reinforcing your internal systems to minimise the risk of future unpaid debts and, if you do need to pursue debt collection again in the future, ensuring that the next time around you’re in the best position to jump on the problem straight away, with the confidence that you have the right team supporting you and the rights terms in your agreement to achieve your desired outcome of getting paid.
The reality is that no debt is lodged with eCollect because it’s easy to recover – if it was, you’d already have the money. But Debt Terminator is the smart first step in moving past the first hurdle to get your accounts payable where they belong – in your bank.
Debt terminator saves you time because it briefs eCollect on the essentials, and we can provide an informed respond that matches your situation.