How Does Debt Collection Work?

Andrew Baty Debt Collection Services Leave a Comment

How Does Debt Collection Work?

Paramount Collections use the concept of performance based debt recovery and have maintained a policy of not charging our clients any membership fees or other similar charges for over thirty years.

Our “Success Only” service means that our commission is only charged on the amount we actually recover for you.

Our system for debt collection has been developed and refined over many years. It utilises a series of letters and phone calls to firstly engage your debtor and have the debt acknowledged. Then it focuses on having your debt prioritised and paid before other accounts the debtor may have owing. Finally, it aims to achieve fast repayment and monitoring any agreement to ensure the debtor follows through.

In the instance a debtor proves elusive we are able to perform a trace using their last known details. If further investigation is required, we are able to refer the file to our in-house investigations department for more extensive inquiry.

How Our System Works

Our system and approach allows slow payers to settle their debts quickly, and without much fuss or embarrassment. It also places enough focus and pressure on seasoned debtors to achieve positive outcomes on complex and troublesome accounts.

  • You’re free to focus on your core business functions whilst we take care of recovering your overdue accounts.
  • Reduces your operating costs through employing and training less accounts receivable staff.
  • Reduces your risk of breaching compliance and regulatory obligations and legislation including ACCC & ASIC debt collection directives, the National Privacy Principles and Privacy Act.
Andrew BatyHow Does Debt Collection Work?

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