OUR PROCESS

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There are three main stages to our debt collection process as listed below, however you may wish to stop after Stage 1 if we simply cannot get the debt paid from our office. 

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Stage 1:  DEBT COLLECTION (FROM THE OFFICE) - We send letters/emails/sms's and make phone calls. If we are successful, we just charge our commission as per our pricing shedule. We charge commission on, any, and all payments, we can recover as a result of our debt recovery action from within our office. Often we can successfully recover a debt this way without needing to progress to Stage 2 or Stage 3.
If Stage 1 fails after 14 days or so, you can either withdraw the file from CreditWise at which point it will have cost you nothing, or at your request we can progress to Stage 2. 

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Stage 2: DEBT COLLECTION (FACE TO FACE) -  We can arrange a field agent to visit the debtor, interview them with the express goal of obtaining payment from them.  The approx. cost in the main centres of NZ is $100+gst.

NB: The cost goes up for rural areas depending on how many km’s our agents need to travel.  Its usually an extra $1+gst per km. 
If the field visit is successful, we will forward you the balance after the costs are deducted.
If stage 2 fails, it will have only cost you approx. $100+gst and you can either withdraw the file or continue on to stage 3. 

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Stage 3: DEBT COLLECTION (LEGAL ACTION) -  At your request, we can do a free legal assessment of the file and see if its worth taking legal action to recover the debt.  If it appears legal action will likely result in payment of the debt, then we can usually gain a court judgement for approx. $1,300.00+gst provided proceedings are not defended. If the debt still remains unpaid at this point we can ask the courts to enforce the judgement which can cost anywhere from $200 - $3000+ depending on which enforcement option is the most likely to result in payment. 
If legal action is successful, we will forward you the balance after all costs are deducted.  

For example: if the debt balance is $10,000, then you would receive approx. $6,000.00 after the costs are taken off at this point. 
NB: If your customer has signed your terms of trade that clearly state debt recovery & legal costs are recoverable, then although we will initially invoice you for these costs, we will then make every attempt to recover these costs from the debtor, so you may end up with the full $10,000 as in the above example.