Its Not Fair is it!!

That some companies and collectors that use harsh collection practices get paid when you don't!!
However is is true, that unless there is a company such as The Debt Doctor(r) working for the debtors, there is almost no limit to what is said or done by some companies to collect debt.

What may not be clear is that these companies may, by their own efforts, be strong-arming the debtor into arrangements that they either cannot afford or could be considered illegal (see insolvent transactions - Insolvency Act 2006).

Your First Collection Step

We all know how hard it is nowdays to get clients, so why go out of your way to alienate them.
Thats right, just because your clients cant pay now, that doesn't mean that you should never ever deal with them again.
When you send off your client's account to a third party debt collector, thats exactly what will happen, you will likely lose the client forever, as most kiwi's are fickle, and in todays day and age it is easy to change your loyalties.

The mere process of debt collection is one of 'writing off' a debt, azs being one which a creditor feels is outside the scope of their ability to recover, either due to complexity or the financial viability of how to re-patriate the outstanding balance

However At the same time organisations are spending thousands of dollars in attempts to market their business to new clients


Situational Awareness

Often there is more than meets the eye when it comes to outstanding debt, and debtors who are being preassured from all sides tend to 'give in' and pay the loudest or most aggressive collector.
However this cannot go on forever, as more and more creditors are employing the loudest collector, this providing more and more reason for debtors to stand back and refer their debt to 3rd parties (such as the Debt Doctor).


Help rather than harass

It is only a matter of time before the New Zealand government adopts or implements osome form of legislation

As a creditor, you have a number of options when it comes to outstanding debt, Recover, Refer, or Help

Recover
- Keep the debt in house and see what you can do to recover the debt yourself
this is usually the most costly method using your time and effort to recover what in some instances is the unrecoverable

Refer
- Assign the debt to a collector to collect on your behalf
Chances are you will never get the client back on board, as he/she will see that agent as an extension of you, and if the agent is giving them a hard time they will see it as your fault.
Chances are the debtor will tell a few others about the treatment and it will damage your reputation even further...

Help
- not all debtors are shirking their responsibility, some are battling in financial times to keep their head above water
SO what will you do to the person who is doing all they can to keep afload.. throw them a brick?

Thats where The Debt Doctor can assist..
When you have a concern that an account is not being paid or a debtor is in trouble (usually as the account is reaching 90 days), you can add a simple line to the 'demand letter' or another sentence in your telephone call.
Ask your debtor if they are having financial difficulties and give them the option to get help

Tell them that there is a way to get their finances back under control without the need to engage collection action, and let them make the decision as to whether they want to get help from someone such as The Debt Doctor or rather deal with a debt collector.

Referrals
- there is no issue in New Zealand (current Law) for companies that have 'problem debtors' to referr to third parties, with most having a contract clause that reads something like - assignment:The Credityor may assign the account to a third party for recovery if the account is in default, etc etc

The Debt Doctor is a third party, and as such has the ability to receive referrals from any creditor who wishes to assist clients.



If you are a creditor, and you are spending all of your time and money marketing to clients then 'giving away' those precious clients to debt collectors only to never see them again Perhaps it is time to pick up the phone and call The Debt Doctor, to see if things can be changed for the better



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