Debt collection is a business operation, more like a necessary evil, every business often encounters, even when they do not wish to. As we all know, bad debts or unpaid invoices are a part of a business’s finances and businesses must overcome such things in a litigated manner. This is a common attribute for SMEs and large-scale corporations. Debt recovery is a taxing endeavour in times when customers with overdue accounts are reluctant to pay the amount owed. When you face issues like bad debt recovery in city areas like Brisbane and Melbourne, who do you consider the best party to talk to or get help from?
As a business grappling with overdue collections, you may have tried sending overdue payment letters, remainder e-mails, or making calls to customers with overdue accounts. These common practices of handling overdue accounts do not work all the time. To get things handled smoothly with a completely legal approach, there are a few options business firms can move ahead with when it comes to recovering unpaid invoices. You can either look to hire a debt recovery agency or lawyers with expertise in debt recovery in Brisbane or Melbourne.
Debt recovery agencies and debt collection lawyers have different approaches to debt recovery. However, the ultimate goal is to ensure the debt collection in such a fashion it does not hamper the reputation of the business and its future endeavours. Every business has a critical responsibility of maintaining a healthy business-to-customer relationship, and debt recovery must not deplete this relationship.
Role of a Debt Collection Agency in Debt Recovery
Sometimes debt recovery agencies are wrongly stereotyped as a bad business deal for businesses with unpaid invoices. However, agencies such as eCollect provide fully professional and legal debt recovery services to their clients. eCollect has over two decades of experience in this field and is helping businesses and individuals deal with unpaid invoices across Melbourne and surrounding areas.
eCollect as a debt recovery agency follows the same process as a business would to get hold of debtors; making phone calls and sending recovering letters. But, their process is more thorough and effective because this is what eCollect specialises in; this is what eCollect is all about. They have a team of highly trained debt collectors who are ethically taught the science of debt recovery and are acquainted with Victoria’s rules regarding debt collection.
Any kind and size of debt; business, personal, small, medium, or large the chances of recovering it with eCollect are always high. Given over 20 years of experience and knowledge in debt recovery in Melbourne as well as surrounding areas, you are confident about their methodologies and work ethics in recovering bad debts for you. They have already established a line of satisfied clients including Jim’s Group, Spondooli, Bourke Group, and others. With their appealing services and benefits, you always get an upper hand on your unpaid accounts.
- Speedy Recovery: eCollect deploys specialist collectors with years of experience in debt collection, making for time-efficient debt recovery.
- No Recovery, No Charge: They follow an uncommon work principle – ‘no recovery, no charges. eCollect only gets paid when they begin collecting your money. They work on a commission basis corresponding to the size of the debt. Meanwhile, lawyers have a designated fee for providing debt recovery services.
- No Hidden Charges: You don’t need to worry about hidden charges while working with eCollect and their letter templates are also free to use.
- Easy Monitoring: Working with a collection agency makes it easier to keep on a tab on the recovery process. eCollect has a platform that makes this process fully online and 24/7. You can monitor all debt collection activities in real-time from your office.
Their services are available in Melbourne and across all suburbs of Victoria.
Role of a Lawyer in Debt Recovery
When the process of debt recovery ceases and legal action is the only option for debt recovery, lawyers’ services become necessary. Lawyers consider an effective course of action to litigate debt recovery. They can take legal action against debtors when the need arises.
Businesses mainly hire lawyers when the amount owed is large because lawyers work on a fee basis and their fees can add up quickly and ‘no recovery, no fee’ is hardly a case with lawyers.
It is best to hire lawyers when debtors avoid payments over a dispute. Collection agencies do not have the power to take matters to the court, and for this, they need lawyers to sue clients. eCollect has E C Legal, their associated litigation and business lawyers, to handle legislative matters.
If you are looking for effective and cost-saving debt recovery services in Melbourne and surrounding areas, it is better to hire professionals who can handle things off the court and in the court effectively. This means you no longer need to pay two different parties for the same job, which makes things more professional and cost and time-saving.