The debt recovery industry in Australia is a fairly regulated one and the authorities have always kept a very sharp eye on the developments taking place in this industry. To keep things equally fair for the debt collectors and the debtors, the authorities have set up some guidelines and mentioned some actions that collectors are not authorised to take during their debt recovery services. Some of them have been discussed here in this post.
Make Repeated Phone Calls
Calling outside of regulated hours
Take Advantage of a Personal Vulnerability
Some other important mistakes that these debt recovery Sydney companies are not allowed to commit are –
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A number of new debt collection companies come and go and only a few of them manage to survive the tough competition and the complexities involved in the business. Most of them are seen complaining about the complexities of the business that force them to quit. This is mainly because of the fact that they skipped doing their homework that mainly involves learning the tricks of quick debt recovery. In this post, we go through some useful tips that will help you in a really fast recovery of outstanding debts.
Ensure that Your Terms are agreed upon
Call the Client Regularly
Some other tips given by the experts of debt recovery services are –
As Businessperson, if you are facing the problem of unpaid debts and non-responsive debtors, then hiring a reputed debt collection agency would be really fruitful. However, there is another problem related to this that it is hard to find a competent, reputed and certified service provider. Even if, some are shortlisted, differentiating between them would be complex, but by placing a few questions before them, you can get some clues related to their capabilities.
Question # 1
"Do You Guarantee Collection?"
Question #2:
"How Do You Handle Disputed Debts?"
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