Bad debts can happen to businesses of every size and trying to recover them can be extremely difficult. There are a number of laws in place in Australia relating to debt collection and legislation unique to individual states.
Debt collectors in Western Australia are required to be licensed under the Debt Collectors Licensing Act 1964, making a professional agency essential for many businesses wanting to ensure that they are compliant.
Debt collections can be a sensitive topic and it’s important to ensure that customers and handled ethically, as non-compliance can have a number of legal ramifications for businesses as well as a lasting impact on their reputation.
Most businesses will not have the time or resources to manage their own debt recovery department with licensed professionals to manage their needs.
There are some great outsourcing solutions for debt collections firms in Perth that service businesses of all sizes from many different industries.
List of debt collection and recovery agencies found in Perth:
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1# National Collections
National Collections offer an impressive 135 years of combined experience in debt recovery. You certainly can’t go wrong with over a century’s worth of experience!
National Collections have been operating in Perth for more than 25 years and can offer amazing knowledge and expertise when it comes to debt recovery.
They work with may industries and are flexible to adapt their services to your needs.
They offer a range of packages for debt solutions and you can expect and easy and smooth process that will dramatically reduce the likelihoods of account remaining unpaid.
They work on a commission only basis, so you will only pay if the debt is collected. If you have the right contracts in place with customers, you can actually refer the costs associated with collection on to them.
Whilst legal action is the last resort for National Collections, they do also offer legal services in addition to debt recovery, keeping thigs simple for your business.
2# Credit Solutions
Credit Solutions have offices across Australia, and are a legal debt collections firm in Perth. The company has merged three separate entities including a debt recovery service in operation since 1965, legal service and a process solutions business and is well-equipped to handle all of your debt recovery needs.
They use a number of analytics technologies for debt recovery to maximise payments and minimise write-off’s, including matching and enhancement tools and technology for risk scoring.
They manage a number of channels for debt collections so you can expect fast and comprehensive contact. Customers might be contacted by demand letters, outbound phone calls, SMS with inbound response handling for all channels.
They offer great customer service and are trained to always conduct themselves ethically and in compliance with the law.
They also offer speciality services such as skip tracing and in-field investigation to assist with debtor management.
When things escalate they can assist through their legal services division that specialise in debt recovery. They offer free initial 15 minute consultations, so if you’re unsure whether to pursue a debt through the courts then they are happy to offer guidance and support.
3# Marshall Freeman
Marshall Freeman Collections in Perth are on of the most highly rated debt recovery firms around. They have a number of offices in Western Australia, so are a great choice even if you are not located directly within the CBD.
They have an outcome oriented methodology when it comes to debt recovery and are confident in their success. They guarantee great result and back themselves through their no debt payment, no commission approach.
Their numbers speak for themselves, they have excellent debt recovery rates and flaunt over 20,000 customers across Australia.
They pride themselves on being very moral and consistent and have built a fantastic rapport with their many customers over the span of numerous years.
Staff at Marshall Freeman are highly prepared to deal with your customers as if they were their own and are firm yet reasonable when managing debts, they are able to create urgency without breaching compliance or upsetting your customers.
Marshall Freemans Collections is an individual from the related of credit and accumulations experts, exhibiting their responsibility to moral practice.
Marshall Freeman are a well-established debt recovery firm and the best way to go for Perth businesses looking for convenience and efficiency in their debt collections firm.
4# First International Debt Collections
First International Debt Collections (FIDC) are an experienced team of debt collectors that are flexble to meet your needs for debt collections. Unlike some firms, there is no limit on the size of the debt, location of the debtor or type of debt with FIDC. They are happy to pursue any debt and will even approach one of debts, international debts and tenancy debts, which is unusual for Australian debt collections agencies because of the risk profile associated with these debts.
They are happy to provide a quote for businesses unsure if they want to outsource their debt recovery and can offer a range of advice regarding collections and debtor management.
They have a number of field agents that work for them, so they can offer a number of channels of contact should you need to escalate matters.
You will only pay a fee based on what they collect, so if they do not collect anything they make no commission. That way you are not out of pocket without results!
You can expect fast collection from them, with the average collection time being three weeks.
FIDC are a great choice for a fast local service with a good focus on in-field collection agents.
5# BCA Debt
BCA Debt are a national collections agency with offices in most major cities, including Perth, they also have a number of regional offices across Western Australia.
BCA debt recognise that a huge percentage of potential profit is lost to bad debt every year, and offer a fast and simple approach for debt recovery.
They have an immediate online set-up system for businesses looking to get started straight away and are also happy to consult over the phone.
They work in a number of industries, including industries like childcare, gym meemberships and education, which are often avoided by debt collections firms because they can be tricky or risky to try and collect with low recovery numbers.
They will work with one off debts and offer a pay as you go service model, so they don’t lock you into any annual memberships or long term contracts.
If you have a lot of debts in place they have a 12 month option that allows you to submit unlimited debts, keeping your costs manageable.
They also have a transparent approach to fee’s, so there will be no hidden costs or surprises.
Executive Editor at Best in Australia. Mike has spent over a decade covering news related to business leaders and entrepreneurs around Australia and across the world.