• NZ wide debt recovery

• Worldwide debt recovery

• Ledger management

• Credit control

• Skip tracing

• Document service

• Credit consultancy

• Repossession

• Litigation

• Dispute resolution

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At CreditWise, we pride ourselves on collecting debts faster and more efficiently than other collection companies.  Our approach is professional, utilising the latest debt collection software and techniques.  Instead of you having those awkward conversations, we do it for you.  We treat each individual debt accordingly and quickly ascertain if there is a genuine dispute or if your customer is struggling financially.

 

Disputed debts:

If we learn an account is in dispute, we will ask the customer to put the dispute in writing and forward a copy to you for your perusal.  If need be, we can assist with the Disputes Tribunal (DT). This is a low-cost way to resolve an unpaid debt. We will only recommend the DT if we think you are likely to win.  If you are granted a DT order then your customer will need to pay by the specified date, if they don't, then the order can be enforced several ways and we can assist with this.  

 

Unable to pay:

It is always our preference to work with your customers, so we can offer support and guidance e.g how to borrow money against invoices they have owing to them or assist with a debt consolidation loan.  We often find your customers cannot pay because they are owed money themselves.  We can assist with their debt recovery to increase their cash flow and in turn help to get your account(s) paid.

 

Accounts more than 90 days overdue:

Once an invoice becomes 90 days overdue it becomes a debt.  We encourage our customers to hand the debt over to us on the 90 day mark. If your customers owe money to several different people/companies then the first cab of the rank, so to speak, has the best chance of getting their debt paid.  In our years of experience, we’ve found the fresher the debt, the more likely it will be paid. 

 

Accounts less than 90 days overdue (ledger management):

We offer a ledger management/credit control service for accounts that are overdue, but less than 90 days old. With this service we persistently keep in close contact with your customers to encourage payment at the earliest possible opportunity, giving your overdue accounts the best chance of being paid and preventing them from becoming debts.     

 

How we contact your customers:

We use telephone, SMS, emails, posted letters and social media to contact your customers.  If these methods fail, we have a national and international network of agents we can call upon at your request and they will meet with your customers face to face to interview them and negotiate payment. 

 

Legal action (If all the above methods fail):

We have the option of taking legal action to recover a debt.  We will only recommend this option if we think there is a high chance of recovery. If for example your customer is on the verge of bankruptcy, has no assets etc., then we wouldn't recommend legal action.  However, if the debtor has a freehold house or a house with plenty of equity and/or is the director/shareholder of an operational company, then legal action is more likely to result in payment of your account. Legal action is not taken lightly and is only used as a last resort. Unfortunately, there are a small number of debtors that do not respond to anything else.  

 

Terms of trade and credit consultancy:

We can assist with your credit processes and terms of trade (TOT).  We find that some of our customers don't have robust TOT with their customers.  If your customers agree to your TOT which allow for collection costs and interest to be recoverable, then we can add our collection costs on top of the debt and add interest. We can then recover the full amount of your debt.  Personal guarantees - If your customer is a limited company then we recommend you get a director to sign a personal guarantee if possible.  This protects your position in the event their company goes belly up and it allows another avenue for collection.

 

Credit reporting and credit risk management services:

We offer a range of credit reporting services to minimise your risk when on-boarding new customers. We can conduct background checks on your behalf and advise the level of risk a new potential customer could pose to your company.