We help your business
Ozwide Collections has over 15 years experience in the field.
We offer competitive rates for our clients. We work with with in house lawyers to offer our clients a whole package service. We don't mind if you use your current solicitors for legal proceedings, its all up to you.
Ozwide Collections are able to offer you a field call and skip tracing service to personally visit the debtor for payment or alternatively attempt to locate your debtor.
Allow Ozwide Collections to view your current Credit Application and Guarantee to ensure your rights are being covered and offer suggestions of change. Further, we offer a Trade Reference Check for all of your new clients.
We also offer different avenues on how you can place a debt against your debtors credit file, you can talk with your individual account manager regarding this.
Ozwide Collections offers its clients piece of mind, by allowing access to all debts and the option to upload new debts whenever it is convenient to you 24/7. This allows you to manage your time, keep an eye on your debts, have the full amount owed by the Debtor at your fingertips.
Ozwide Collections offers different avenues in which our clients can lodge debts.
Debts can be lodged by spreadsheet using MYOB directly into our system;
Client's entering debts by using the client portal; or
Clients completing the Debt Referral Form and emailing that to us directly.
Its your choice!!
We offer a competitive rate and service for Body Corporate entities and managers to collect debts from lot owners. We would be happy to have a chat with you regarding your Body Corporate needs.
Why should I use a debt collection agency instead of a solicitor?
A debt collection agency’s primary function is to collect debt. Mercantile agencies are experts in debt collection and are structured to provide the services that are cost effective and efficient.
Do you have sign-up fees?
No, at Ozwide Collections, our customers pay for the services they engage us to undertake.
How long does the collection process take?
Due to the individual circumstances of each debt no accurate recovery time can be quoted. Our aim is to quickly identify a debtor’s willingness and ability to pay and then apply consistent pressure to obtain payment. We make your overdue accounts a priority so debtors quickly understand the debt is not going away and that action will only escalate if the account is not paid.
What is the collection process?
We have a series of debt collection calls, emails, sms and letters that we utilise to collect your outstanding debts. If an address or phone number is found to be no longer viable will take in house steps to try to locate the debtor first, if we are unsuccessful, we will revert to you for instructions to proceed with a full skip trace with a view to attempting to locate your debtor.
What contact is there during the collection process?
We will contact you via email at various times during the collection process to determine whether a debtor has made contact with you or if payment has been received. We will also contact you via email for any of the reasons below:
1. To notify you of a promise to pay.
2. To notify / seek your approval of a proposed Payment Arrangement.
3. To notify you of a dispute raised by the debtor.
4. To request more information or seek your authority to proceed with Legal letters/ Defaults/ Skip Tracing/ Court Action.
Our clients have 24/7 access so you can see what is happening on your file, and add notes if you have received contact or payments from the debtor directly.
At what age can an account still be recovered?
Successful debt collection depends on a number of factors especially the age of the debt. As a guide debts can be pursued for 6 years. Keeping in mind, however that successful collection usually occurs on recently incurred debts where the debtor is traceable and solvent with no valid grounds for disputing the debt. The longer it takes to submit a debt the harder it is to collect. Our Debt Collection Officers will assess each case on its merits and advise the best course of action.
Can I recoup any collection costs from my debtors?
The only way you can expect to recover costs is to have the correct Terms of Trade in place. Your customers need to be aware and agree that you may charge late payment fees, interest, legal and recovery costs as defined within the Terms of Trade for any accounts not paid within the agreed credit terms.
What happens if you can’t collect my debt?
If we are unsuccessful in recovering your debt, we will give you three options.
1. The debt is uncollectable and we advise you to write the debt off.
2. You should give consideration to commercial settlement
3. If legal action makes commercial sense and the debt warrants it, we will explain the legal process and the expected costs involved.
Should you not wish to proceed, we will close our file and only charge you for services conducted.
What are the legal costs?
The legal costs vary depending on the course of action. We will advise you on what we believe the best path of action is to take. We encourage you to use our affiliated law firm, however, you can choose to use your own solicitors or lodge a small claim in the Minor Debt Court which Ozwide Collections can issue on your behalf.
The law firms affiliated with us, charge on an event basis and not an hourly rate. All costs are capped and quoted so it is easy to budget for the expected costs. You will find we have negotiated the better rates than you will be able to find elsewhere.
What if you only collect half the debt or a part of the debt?
We only the agreed commission rate on the funds recovered.
Does the money go into a trust account or holding account?
All monies collected go into our trust account for the following reasons:
1. We know when the debtor has paid without having to continually contact you. This allows us to continue our collection process.
2. We can take immediate payment over the phone by credit card.
How long before we remit trust account funds collected?
Any monies collected into our trust account are remitted to you at the end of each month. Funds are disbursed to you from our trust account by EFT.
What guarantee do I have that you will forward my money?
Monies collected on behalf of our clients are held in a separate trust and are audited before final disbursal. To protect clients and debtors we are subject to regularly external audits of our trust accounts to safeguard financial transactions and for us to hold our government licenses.
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