FAQ | CollectIT 2020 Limited

How do I lodge a Debt?

Lodging a debt is easy with CollectIT.

If you are a new client, there is a “Register Now” button at the top of your screen. This will take you through to a page where you fill out your details and the details of the Debtor you would like to chase. We do the rest!

If you would like any assistance, please call us on 0800-WE COLLECT and we can talk you through it.
If you are an existing client, “Log In” and add your new Debtors.

What happens once I lodge a Debt?

You will receive an invoice for payment of a Debtor Management Fee (Loading fee) before we can proceed. We will send this to you via e-mail along with a request for all relevant documentation such as signed Terms of Trade, invoices and a history of contact between yourself and the Debtor.

When payment has cleared and we have the documents, we will start our process. A Letter of Demand will be sent to your Debtor immediately.

You can see exactly what we have done through our online Client Portal. We will also make regular contact so you know what is going on. You are also more than welcome to contact us at any time if you have any queries or concerns along the way.

How do you contact the Debtor?

We use a combination of phone, SMS and E-mail communication with Debtors. Field Visits are available if required, however, these are less common. It is imperative that you give as much detail as possible to ensure we can do out utmost best to make meaningful contact and recover your outstanding funds as promptly as possible.

What happens if we are getting nowhere with a Debtor?

There are more avenues we can go through once we have made a genuine effort through our Debt Collection process. After a period of time, if we are getting nowhere, a member of the CollectIT team will touch base with you and discuss any further options you may have.

What is the minimum amount of Debt I can lodge?

There is no minimum debt limit at CollectIT. We will happily collect debts large and small.

What does it cost?

If you would like further detail about our charges, please contact us and we will send you through our Commission structure. Other than the original Debtor Management Fee (Loading Fee), we miss out on our commission if we don’t manage to recover any funds. It is in our absolute best interest to get you paid in full and as promptly as possible as it is how we get paid too!

What if my debt is disputed?

A genuinely disputed debt can not be pursued via CollectIT. However, every situation is different and your Debtor may use this term to avoid Debt Collection even when it is not reasonable. Please contact our team and we would be more than happy to assist you in establishing if your debt is genuinely disputed or not.

Our Director, David Waine, wrote a great article about this subject. Click here if you would like to learn more.

I have lodged a debt with CollectIT. Why don’t you lodge against the Debtor’s credit rating immediately?

Our standard practice is to issue a Letter of Demand to Debtors with a 7 day notice period to give the Debtor an opportunity to make payment with no affect to their credit rating. After 7 days, if we have not received full payment, we will discuss with you if you would like us to lodge the debt with Centrix. We will do this at no extra charge for you. When the debt is paid in full, we have this removed.

How is CollectIT different to doing it myself?

Legally, we can do no different to what you could do yourself, however, we have fantastic systems and staff that do this all day, every day, and… they love doing it! Recovering overdue invoices is usually put last on the task list and persistence is key to getting paid.

If you have your Terms of Trade signed, you are able to recover our Collection funds in full so you are essentially no worse off than collecting it yourself – you just get to hand it over to the professionals and concentrate on what you do best; your core business.