How is debt recovery in your business?

No doubt as a consequence of the COVID-19 crisis Australian credit agency, CreditorWatch, reports that debt payment times were 224% higher in July 2020 than in July 2019.  Or more simply, it’s taking twice as long for businesses to get paid.

So how is debt recovery going in your business?

We understand a flexible approach to trusted customers and clients is important but with the end of the calendar year approaching, you may wish to clean up unpaid invoices so they don’t drag out over the Christmas period.

If so, Clifford Gouldson Lawyers’ low cost debt collection solution, CG Collect may be of assistance.  Whether you are a larger business regularly chasing debtors, or an individual pursuing a one-off amount, CG Collect can help, with our fixed fee reducing as the volume of work we do for you increases.

What is CG Collect?

Previously, businesses and individuals owed smaller sums of money would often make a commercial decision not to follow up such debts for fear of spending more on debt collector’s fees than the debt. We developed CG Collect several years ago to not only create an option for those businesses and individuals, but an alternative to debt collection agents who frequently charge by taking a significant percentage of the amount recovered.

Ideal for debts of up to $50,000, simply visit www.cgcollect.com.au and complete the Debt Recovery Questionnaire.  In this simple web form, you can tell us all about the debt and the debtor, and we can get started on recovering payment for you.

Our lawyer-approved letter of demand, customised to your wishes in terms of severity and deadline for payment, is sent to the debtor and copied to you.  If you don’t receive payment by the deadline, we will call the debtor and have the hard discussion for you.  If the debt remains unpaid, we will advise what you should do next.  Our success rate is high, and we respect the ongoing relationship you may wish to preserve if it is a customer or client you want to retain.

Who should use CG Collect?

CG Collect is suitable for debts of up to $50,000. If you are owed a larger debt, or the amount is uncertain, we recommend seeking a more personalised recovery service.  If this is the case, Clifford Gouldson Lawyers would be pleased to provide a full legal service to assist you pursue your money.