Debt Collection Services

Debt Collection Services

What We Do:

Accounts Receivable Management

Accounts receivable management is not debt collection but simply cash flow management! We would be an extension of your own office, phoning and or writing to your clients as they reach predetermined arrears benchmarks. All letters and phone scripts would be pre-approved by yourself with the express desire to retain clients whilst displaying a firm control over credit terms.

Letters are sent out on your letterhead and phone calls identify your business, not Credit Recoveries Limited.

Outsourcing your accounts receivable management is an efficient and cost-effective way of providing office support for one of the least liked office functions. Separate accounts receivable management assists back-office relationships with point of sale and field representatives.

Contingent Bad Debt Collection – (We share the cost and risk)

For those debts that you feel are just too hard to collect or the cost and hassle is just not worth it, we will assess the likelihood of collection then offer you a shared cost collection model.

Commission payable by you would be negotiated, taking into account age and principal amount to be recovered.

We pay all the upfront costs. No collection – No cost to you!

Your only risk is if the debtor formally disputes the debt and requires the claim to be withdrawn or formally litigated by the Courts, then the cost of defence or costs already paid in association with the collection would be recoverable by us from you.

Credit Checks – Business and Personal

Use our online credit reporting web portal (in association with Centrix) to complete 24/7 credit checks on your new and existing clients

Before you supply goods or tenancy take the time to verify your debtor’s ability to pay with a simple online credit check.

The check will highlight any overdue or account defaults, confirm their identity and confirm previous addresses, finance applications, and match any known former names or alias.

 

Before requesting information, you need to:

  • Ensure the person whose data you are accessing has given their consent for you specifically to access fines information before you make the inquiry.
  • Advise the person that their personal information may be passed onto a credit bureau and that the credit bureau may use the information to update its databases and for providing information services to its subscribers and other lawful purposes.
  • Check your inquiry is for a permitted purpose (such as assessing the person’s creditworthiness for granting credit, offering a tenancy, or employment).

Before requesting information, you need to:

  • Ensure the person whose data you are accessing has given their consent specifically to you accessing fines information before you make the inquiry.
  • Tell the person that Centrix will access their fines information on your behalf.
  • Keep the consent for at least 2 years.
  • Make it clear to the person that providing the driver license information is voluntary for credit reporting purposes (we also recognise you may be subject to legislation that requires you to collect driver license information).

If a person disputes information you have given us you must assist us in our investigations, including responding promptly when we ask for information.

Your obligations in relation to these matters are detailed in our agreement for the supply of information services with you.  

Credit Consultancy and Training

Our accounts receivable training team has been providing credit guidance to businesses throughout New Zealand since 2015.

Visit the Accounts Receivable Training tab for more information.

Debt Recovery

Debt recovery is the least enjoyed role of any sales team.  Credit Recoveries has been collecting accounts receivable for nationwide corporates, SMEs, Government Departments, Territorial Authorities, and sole traders since 2008.

Utilising some of the most effective modern collection tools available, combined with a team of nationwide Private Investigators, our team of Recovery Specialists continue to exceed industry collection benchmarks.

Our Clients can monitor their collection results 24/7 using our online Client portal.

No secrets – just results!

As well as having access to our online web portal, we will send you a monthly report detailing all payments received, payment arrangements made and details of negotiations with your debtors.

Loading your debt is simple using our online debt load and document upload link.

Default Listing of Bad Debtors on New Zealand and Australian credit databases

Debts listed with Credit Recoveries may be notified to the Centrix, Equifax and Illion credit default databases after 30 days unless under $125 or you request they not be.

Default listing can have serious consequences, often making it difficult to obtain credit such as car finance, hire purchase and/or tenancy.

Default listing stays on the debtor’s file for 5 years, even after they have paid!

Disputes Tribunal New Zealand (Small Claims Court up to $30,000)

The Disputes Tribunal, often called the Small Claims Court, is an informal forum to resolve a wide range of disputes – not only financial.

Lawyers are not permitted to attend the Dispute Tribunal hearings, however, you are able to have a support person accompany you.

Your claim can be made on-line or on paper. It is important that you have the name and address of the person that you are claiming against (Respondent), clear and concise details of your claim, details of witnesses (if any) and as much documentation as you can provide to support your claim.

Document Service – Nationwide

Credit Recoveries has a network of Government licenced Private Investigators throughout New Zealand able to provide professional, cost effective and timely document service. We are the preferred supplier of document service by some of New Zealand’s major legal firms and financial institutions.

Field Service (Door knocks)

Professional and discrete visits by our Government licenced Private Investigators is a cost-effective way of confirming your debtor’s whereabouts. Trained to observe, our PI’s can often identify assets and other useful collection intelligence on site.

Legal - Specialist Debt Collection Litigation

Credit Recoveries legal team only deals with debt litigation!

Our on-site legal team can generate, file, and present your debt collection documents in any District Court jurisdiction within New Zealand.

In the case of larger debt not hearable in District Court, we can instruct associates in the High Court.

PPSR Loading and Discharge

Personal Property Securities Registry is simply an on-line notice board where details of security interests in personal property can be recorded and searched.

Registration notifies your legal claim to an item and confirms to third parties that there may be debt associated to an asset.

The PPSR establishes legal priority based on date/time of registration and will be used to determine who gets what in a formal receivership/liquidation.

Personal property is considered all that property other than Land. e.g. Boats less than 24 metres in length, business stock, plant and machinery, aircrafts, motor vehicles, livestock.

The introduction of PPSR has changed the use and dependence by business upon ‘the Romalpa clause’ when reserving title/ownership on sold goods.

Business and individuals are advised to utilise this excellent, easy to use method to assist to protect your assets that may be in the hands of a debtor.

The team at Credit Recoveries can assist you search and record your interest in the PPSR.

Repossessions (by Government licensed Private Investigators)

Credit Recoveries takes privacy and process seriously. When we are engaged by you, we are representing your brand. Our responsibility is to not bring your brand into disrepute and as such we have strict operational standards for any contractors, or third parties engaged by Credit Recoveries.

Prior to acting upon your repossession instructions, we will require copies of;

  • Latest statement of account – no older than 15 days
  • Motor Search/PPSR confirmation – no older than 30 days
  • Copy of Loan agreement
  • Pre-possession Notice no older than 30 days
  • Repossession Authority no older than 15 days.

Speak to our team, as we may be able to assist you to obtain PPSR confirmation and confirm the format required for documents prior to repossession.

Credit Recoveries can also arrange storage of the repossessed asset immediately following seizure and for the required 15 days prior to sale.

Tracing of Debtors

Debtor location is the most time-consuming task of any collection business.

Credit Recoveries uses both electronic and local knowledge to locate debtors.

Through our extensive network of Government licenced Private Investigators we can access national data bases and public community forums.