Debt Collection Sydney
When to Use a Debt Collection Service
If you don’t recover your debt after:
You may decide to use a Sydney debt recovery service. Because debtors are legally responsible for paying the debts they legitimately owe!
The Leading Debt Collection Agency Sydney
A debt collection service is a business that seeks to recover the money for you for an allocated fee. Using a debt recovery service extends further than sending a letter of demand. It signals to the debtor that you have decided to hand the matter over to professionals. Although, this may further strain your business relationship, it may be more important to get the money you are owed.
Our team at Precision Integrity Services consist of professional Sydney debt collectors whom are specialists in their field. We are able to quickly identify and assess the desire and capacity to pay and then pursue effective strategies to make your debt a priority. With a dedicated focus on personal and commercial debt recovery services, our agents are well placed to understand what’s involved and how to go about settling your overdue accounts in an ethical and respectful manner, in accordance with mandates and regulations.
- We ensure our agents receive specialised training and are well versed in jurisdictional laws.
- Our agents utilise only respectful and Ethical collection techniques.
- We are committed to maintaining a professional, firm and efficient approach at all times.
Our experienced team of debt collectors Sydney are from a diverse range of backgrounds. They are also fully qualified and experienced in strategies to help you reduce your overdue accounts and prevent further bad debts at minimal cost. Our goal is to make your overdue debts a priority so that you get paid faster.
Precision Integrity Services are consummate professionals in their approach, whilst offering a commission free collection process that is focused on timely and ethical complete debt recovery.
Sydney Debt Collection Recovery Methods
Traditionally, a debt recovery service will send a ‘letter of demand’ to the debtor on its letterhead, demanding that the debt is paid by a particular date or legal action may be taken. If necessary, the service will issue a second, ‘final’ letter of demand or follow up with a ‘phone demand’. If unsuccessful, you can engage the service to take legal action on your behalf. The fee you’ll pay is referred to as a commission. Most commission rates for debt collection services vary between 5% and 30% of the value of the debt.
At Precision Integrity Private Investigators, we take NO commission. You simply pay for the work we do to recover the debt. Generally, debts may be recovered either through the courts, or by using creditor or collection agency personnel to negotiate repayments.
When Can We Contact the Debtor on Your Behalf?
Per the ACCC Debt Collection Guideline for Creditors and Debtors, it may be necessary and reasonable for you to contact a debtor to:
- provide information to the debtor about their account
- make a demand for payment
- offer to work with the debtor to reach a flexible repayment arrangement
- accurately explain the consequences of non-payment, including any legal remedies available to the collector/creditor, and any service restrictions that may apply in the case of utilities (for example, disconnection of electricity or gas supply or restriction of water supply)
- make arrangements for repayment of a debt
- put a settlement proposal or alternative payment arrangement to the debtor
- review existing arrangements after an agreed period
- ascertain why earlier attempts to contact the debtor have not been responded to within a reasonable period, if this is the case
- ascertain why an agreed repayment arrangement has not been complied with, if this is the case
- investigate whether the debtor has changed their residential location without informing you, when there are grounds for believing this has occurred
- sight, inspect or recover a security interest
Skip Tracing and Location Services
In the event that a debt is not recovered using these means, we offer additional services such as Skip Tracing and Location Services, to locate the debtor, should they move or try to avoid service of documents.
Sydney Debt Recovery Fees – What You Need to Know
We charge $250 + GST per debt outstanding for the initial engagement. Following that, if required, we offer a follow-up service involving the service of up to three further letters of demand as well as follow up calls for each letter by one of our operatives. This service is offered for a fee of $50 + GST per debt plus any certified mail expenses.
How Does Recovery Sydney Work?
Initially, the process of debt collection Sydney consists of sending a letter of engagement to legally advise the debtor that we have been engaged to pursue and recover the outstanding debt. Following that, we may send an operative to the debtor to serve the first letter of demand in person. This guarantees the service can be proved to the court, if and when legal proceedings ensue. We work alongside your legal practitioner or can refer you to the most appropriate legal representation for your situation.
Sydney’s Leading Debt Collection Agency
Aside from being more professional (and ethical) than many of our less scrupulous competitors, Precision Integrity Sydney operate a little differently to other debt collectors. Our major difference is we only charge you for the time spent chasing your debt. We do not charge you an outlandish percentage of the amount recovered like all other debt collectors do. As our team consists of licensed private investigators with decades of law enforcement experience, we utilise outside the box thinking to create effective lawful strategies and implement tactics tailored to your situation to ensure the best possible outcome.
What Clients say about
Precision Integrity Services