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More Businesses Look to Use Debt Collection Agencies

Over the last three months we have seen a significant increase in the number of new businesses approaching us for help with their overdue accounts. Interestingly, a large number of these businesses have never had an issue in the past with slow or non-paying clients. Cashflow has always been critical to any business, big or

Christmas Break Cashflow Planning

The Christmas holiday period is just around the corner and this can often be a time when businesses experience cashflow problems. Not only is there a period when their income may drop but their clients are more likely to take longer to pay and on top of this there may be holiday pay to cover

Some helpful suggestions for businesses as they move out of level 4 lockdown

It is going to be tough ride for just about every business in NZ over the coming months. Yes; some businesses may not survive however Global Credit Management  believe most businesses will do everything possible to get their business back on track. Here are few suggestions that may help. *Forget about listening to all the

Covid -19 Update

Just a heads up to all our incredible clients throughout New Zealand Global Credit Management will remain open throughout Covid-19 alert Level 4 however staffing levels will be reduced. We will continue to work closely with our clients and the debtors to ensure the debts are being collected as we understand how important cashflow will

Does Global Credit Management take on one off debt collection work ?

It is surprising how many times we get asked by businesses if we will take on a one off debt collection job. The answer is YES as it does not matter whether you have one or multi debts you still deserve to be paid. With Global Credit Management there is no upfront fees and the

When can I hand an overdue account to debt collection agency?

In reality an overdue account can be handed to a debt collection agency as soon as your client breaches their obligations under your payment terms. However before handing the account to a debt collection agency it is important that you have tried to contact your client regarding the overdue account as there  may be a

Say No to Upfront Debt Collection Costs / Fees

It is surprising the number of debt collection agencies who have upfront fees either loading, voucher or joining fees this is on top of the collection fee being charged when the debt is collected. A good debt collection agency should be results driven and have no upfront fees / costs plus be transparent over what

A few simple things to do if your business has a slow / non- payer

Firstly, the key to collecting an overdue account is to take prompt action this should include: • Picking up the phone and calling your client it is a more personal approach and may provide you with some valuable additional information on why the account has not been paid • Try and set a mutually agreeable

Ensuring contact details are up to date

An important part of collecting any overdue account is having the most up to date contact details (phone numbers, physical address, e mail address & contact person) available. Global Credit Management see a good number of new debts lodged for collection where there are no or out of date contact details this can slow the

Is it Time to Check Your Accounts Receivable ?

The preparation of the  financial year end information for most businesses has now started and what better time to check your accounts receivable report to see who owes your business money. If you have any clients who are 60 days or more overdue they need to be sent to a debt collection agency. Remember it