Benefits to your business
- Improves your cash flow - your money comes in quicker
- Saves you time – we handle everything including locating your debtors, collecting payment and even litigation, if necessary
- Improves your collection rate - we have the tools and resources to collect your debts quickly
- Protects your business brand - our Account Managers work with your business to ensure that we uphold your brand
- Sends a clear message to your customers that late payments will not be tolerated - appointing a debt collection specialist is sometimes all that is required to prompt your bad debtors to pay up
- Recovers debts quickly - demand letters are sent out the same day as we receive instructions
- Reduces expenses on debt collection - we work on a commission basis; if we don't collect your debt you don't pay us
Are you ready to lodge a debt with us? We can get started right away.
Our debt collection options
We offer ‘no collect, no fee’ commission-based debt collection. When we collect outstanding debts you simply pay a commission based on the amount of the debt. You may even be able to charge our fees to your debtor if your terms and conditions provide for this.
Once a debt is lodged with us, we handle everything including:
- Contacting your debtors
- Collecting payment
- Enforcing a payment arrangement
Our process starts with sending a demand letter on our letterhead requesting payment. The letters we send accurately and objectively explain the consequences of non-payment, which can include legal proceedings.
We follow up the initial letters by making contact with your debtor. Your Account Manager negotiates arrangements for repayment of a debt within the scope of your instructions. We can put a settlement proposal or alternative payment arrangement to the debtor. Our collectors review existing arrangements daily to ensure compliance. We also contact any customers who default on arrangements to ensure prompt payment.
Our collectors have advanced tools to track down debtors who are missing or unreachable. We conduct searches and investigations to locate them and identify their assets. In some circumstances we will use our network of agents to visit the debtor at their home or business to seek an arrangement to pay. In the event a debtor still does not pay, we will recommend other options to you including legal action if appropriate.
If a commission based arrangement makes sense for your business, you can lodge a debt with us and we'll help you recover the money owed to you.
We try to avoid legal action to recover your debts unless it’s absolutely necessary. However, there are some instances where legal action is the only method to get your debtors to pay. If the debtor still refuses to pay after we have exhausted all channels of negotiation, we will discuss the legal options and costs with you before we take action. This could include commencing legal proceedings or issuing a statutory demand against a corporation.
BCM maintains contact with you throughout the whole recovery and litigation process ensuring you continue to receive professional and seamless service.
When you engage BCM, you get access to a powerful and comprehensive online debt management system.
Our debt management system allows you to:
- Load matters for collection
- Track the progress, payments and costs associated with each matter
- View all notes, telephone calls and correspondence with the debtor
- Communicate directly with your dedicated Account Manager
- Generate customised reports of receivables, collection times, and cash received