With many ongoing effects of the Coronavirus pandemic, the issue of debt has caused confusion, caution, and no small amount of stress for many Australians. Network Debt Recovery Services have taken on recommendations of the Office of Fair Trading (OFT), the ACCC, and ASIC in order to make sure our debt collection services can continue […]
Oct
21
6 Tips to Get Overdue Clients to Pay Their Invoice
Overdue clients can have a huge impact on your cash flow and overall business health Cashflow can make or break a business. Profits are important, but the most profitable venture isn’t worth very much if you can’t get your clients to pay. Most businesses run into this problem at some point, however, the way that […]
Jun
28
How long before debt is written off in Australia?
You may or may not be surprised to learn that a client or customer’s debt can be completely wiped clean. Like most legal matters, debts are subject to a statute of limitations. If the creditor fails to take action before the statute of limitation expires, the debtor no longer has a legal obligation to pay […]
Dec
15
Debt Collection Letters for Unpaid Invoices in Queensland
The recovery of debt from unpaid invoices is one of the most common debt-collection actions required. Typically, your business will have provided goods or services on credit and if after the contractual term runs out, be it 14 or 30 days, and the client refuses to pay, you […]
Nov
29
Is it legal to charge interest on overdue accounts in Australia?
This is a question that many Aussie business owners struggle with and a question we get often. They understand the practical value of charging interest on overdue accounts, but they worry about the legality of applying additional charges. In short, the answer is yes, charging interest on overdue accounts is legal. However, this does not […]
Nov
21
How to ask for late payment in an email
While phone is probably still the preferred method for contacting clients and customers about overdue accounts, email does offer an alternative that can be beneficial. It offers a low stress option for contacting account holders, it can be a hassle-free way to get customers to pay when they are late on accounts, but it will […]
Aug
17
5 Warning Signs That You Might Need Debt Collection For a Client Soon
Debt collection is a stressful job for businesses, and although there is no sure shot way to identify a customer who will default, some early signs will always help to cut down on bad debt in your books. Usually, when a client does not want to, or is not in a position to pay back […]
Jun
13
Understanding Credit Management
The importance, long term benefits, requirements, and procedures behind a robust credit management system If you’re a small-to-medium business owner that wants to be as successful as possible, understanding credit management is a great way to generate genuine wins. Its use in your company will assist tremendously in ensuring that late-payments and non-payments by customers are […]