“Debt Collectors are all useless, you won’t be any different”
This was the comment made to CollectIT by a client referred by their Accountant. The client desperately needed some assistance with slow payers and bad debts, but had had poor results from other debt collection agencies.
The client was persuaded to try CollectIT and after a few months referred 13 debtors. One of the concerns raised by the client was CollectITs’ 20% commission. CollectIT prepared terms of trade for this client so costs could be passed onto future debtors.
Unfortunately, this client had left its debts far too long. Five of the debtors were liquidated, a $39,000 write off for the client. Five of the remaining eight debtors have paid or are paying (approximately $38,000), One is going through the courts, one was very small and the debtor had closed it’s doors and the other was handed back to our client as they were negotiating with their debtor. CollectIT has begun court proceedings.