What can I expect Debt Collection to cost me?
“Don’t leave your bad debt linger and expect to be paid”. Paramount Collections are the Debt Collection Specialists.
“The problem with most bad debt is that they are referred to a Debt Collector for activity after five or six months of attempts to get paid.
Debt Collection statistics show that after 30 days 5% of Invoices are unrecoverable. This decreases after 60 days to 15%. Then after 90 days it’s 25%. After 12 months sadly 75% of those Invoices are completely lost.
At Paramount Collections we ask our clients refer accounts to us as soon as their early collection activity fails to produce results. If your Customer hasn’t responded to you within your normal terms of trade then it is unlikely they will. By referring your debt collection within a reasonable time you can reduce your losses. We then have a really good chance of collecting your bad debt.
Is the percentage of commission of concern? Paramount Collections have proven beyond doubt, with a major ASX listed Client, that when their previous Debt Collection Agency charged them 10% commission they successful in just 22-25% of matters. A change of Debt Collection Agency to Paramount Collections increased this to an average 75-80% success rate. And we have maintained this now for over 10 years. Are you worried about a 20% cost or happy for a 80% return? We offer a better solution for debt collection at a known cost.
The other advantage to early referral is public relations. Paramount Collections are the ones who pursue ‘the tardy customer’, not you. That way you keep the customer, and Paramount Collections can pursue recovery, diplomatically or intensively as required.
Make Paramount Collections your preferred Debt Collection Agency and get the results you want now. Click here now to engage.