A new service very similar to NZ Blacklist www.nzblacklist.com has taken the US by storm. Report as follows from PR Web:
All too often, small businesses find themselves with bad debt and little they can do about it. Due to the complicated nature of hiring a collection agency, many companies ignore their bad debt. Most of the problem is a lack of unbiased information to aid in finding a compatible or reputable collection agency. Forced to throw caution to the wind, companies blindly place their trust in whichever collection agency has the most convincing sales pitch. In the end, a lower percentage of bad debt is collected than if a best-fit collection agency had been selected.
CollectionTree.com changes all of this. Finally, someone is here to provide businesses access to a directory of collection agencies and enables them to make smart, effective decisions. CollectionTree.com starts by sharing agency ratings based on consumer responses and historical data so each business gets the strongest collection agency for their industry and amount of bad debt placed. After uploading their accounts to the CollectionTree.com secure portal, businesses can monitor the entire process from the easy-to-understand user interface and can also quickly communicate online with their collection agencies. What’s more, with every submitted account, CollectionTree.com generates a forecast to project how much collected money to expect.
This new online tool is created with the business owner in mind. CollectionTree.com removes the confusion and overwhelming attention associated with processing bad debt; at last, companies can get bad debt collected with confidence. Read more here
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Debt Collection, Debt Collectors, Bad Debt Recovery, Terms of Trade, Credit Reporting, Legal Services, Skip Tracing, Tracing and Investigative Services
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New Zealand Blacklist
Blacklist Debt Collection Solutions
- NZ BLACKLIST
- Auckland, New Zealand
- "I was sick of hearing the 'Cant pay, Wont pay' excuses from debtors. I was tired of wasting time looking for and interviewing endless debt collection agencies. All I wanted was someone motivated that suited my needs and I didn’t want to spend vast sums of money trying to get back what was rightfully mine. NZ Blacklist was born"
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Reports from Australia show increasingly tough times for debt collection agencies. Report from Sydney Morning Herald-
Debt collector Collection House has posted a fall in annual net profit after exceptional items but says it is well positioned and looking forward with confidence.
The company’s net profit was $7.85 million for the year ended June 30, down 37 per cent on the prior financial year’s $12.39 million after impacts from the disposal of non-core businesses.
However, Collection House announced a rise in revenue from continuing businesses, a four per cent lift in underlying pre-tax profit to $10.5 million for the 12 months to 30 June 2009 and an increase in its final dividend.
It’s shares closed up 5.5 cents at 54 cents, a rise of 11.34 per cent, after the better than expected result.
Chief executive Tony Aveling said a range of initiatives implemented in response to the global financial crisis led to positive outcomes for the company and it was “looking forward with confidence”.
“When the crisis hit we recognised we needed to change tack,” Mr Aveling said.
To read full article, click here
Debt Collection, Debt Collectors, Bad Debt Recovery, Terms of Trade, Credit Reporting, Legal Services, Skip Tracing, Tracing and Investigative Services
NZ Blacklist Debt Collection Solutions.
Reports from the U.S show debt collection has rise in business. Press Democrat report;
Debt collection is a growth industry these days, but that doesn't mean it's a terribly profitable one.
As more people fall behind on their credit card bills and car payments, collection agencies are busier than ever, churning out warning letters, calling people's homes or businesses and even dragging them into court.
But collecting on those mounting debts is tougher than ever. High unemployment and plunging home equity have left debtors with fewer resources -- and some say less inclination -- to repay debts and repair their credit ratings.
"I work four times as hard to collect the same amount of money as I did two years ago," said Robert Tavelli, head of the Santa Rosa-based collection firm NCCS Inc. "We're seeing probably a 300 percent increase in listings with no greater increase in recoveries."
No one's going to shed a tear to hear debt collectors are having a tougher time shaking down people who are behind on their bills. Some might even cheer.
But the inability to collect outstanding bills is a serious problem for businesses, and one that could threaten a sustained economic recovery. The more bad checks or delinquent accounts a business can't recover, the greater the pressure to cut employees, who in turn might fall behind on their own bills, creating a vicious cycle.
"Many of my clients are suffering," Tavelli said. "They've had to lay off people because they can't collect their receivables."
When it becomes a choice between sending customers or patients to collections and keeping employees, businesses are increasingly choosing collections, said Chris Schumacher, president of Optio Solutions, a collection firm based in Rohnert Park.
When business was good, companies focused on growth. Now that it's gotten tougher, many are watching in horror as the bad debts on their books mount, leaving them little choice but to take a tougher approach to collect past-due bills. Read full article by clicking here
New Zealand Blacklist Superior Debt RecoverySolutions
Reports out fo the US show significant layoffs in Q2, 2009.
Collection agencies and debt buyers reported layoffs at a record pace in the second quarter, according to the results from insideARM’s latest Credit & Debt Collection Industry Confidence Survey. But collection performance is improving from late last year
Accounts receivable management companies reported a record level of layoffs in the second quarter of 2009, according to the latest insideARM Credit & Debt Collection Industry Confidence Survey.
In the previous Confidence Survey, 25.7 percent of collection agencies reported layoffs in the first quarter with 33.3 percent of debt buyers cutting positions.
ARM companies did report better levels of performance in the second quarter. Although performance ratings were lower than in the first quarter, they significantly outpaced the performance reported in the fourth quarter of 2008, when the economy was seemingly in freefall and panic was the order of the day.
Read the whole article by clicking here
New Zealand Blacklist. Contact us today for your superior debt collection solutions.
http://www.nzblacklist.com/ ; www.nzblacklist.co.nz
Debt Collection, Debt Collectors, Bad Debt Recovery, Terms of Trade, Credit Reporting, Legal Services, Skip Tracing, Tracing and Investigative Services
New Zealand Blacklist Debt Collection Solutions www.nzblacklist.co.nz
Every business should be able to initiate payment themselves without the need for 3rd party collection agencies. A brief guide on how to collect debts yourself may help.
REVIEW: Review the documentation on the debts before calling the debtors. Know the history of the debt, account details, credit record, and any promises kept or broken by the debtor. Have all records or documents in front of you, ready for reference.
APPROACH: Adopt a straight, professional business-like approach. You should have Terms of Trade or have a contract, you have delivered the goods and possibly have a signed proof delivery receipt, your money is owed, and you have a right to expect payment. Don´t yell or raise your voice when speaking with the debtor. Don´t threaten them in any way; Using debt collectors or legal action is your recourse.
CONTACT: Make sure you´re talking to the correct person. Don´t let the debtor brush you off with "You´ll have to talk to the accountant." Identify the person who will pay your bill. If you can´t get through after several calls, tell the receptionist that you know your calls are being screened and that this is not acceptable. Indicate the purpose of your call and if necessary give deadlines for paying the outstanding invoice.
CONTROL: Drive the conversation. Focus only on the debt and on the repayment schedule. Don´t let the debtor sidetrack you with excuses, etc. Remember, the object of your call is to collect money, or get a commitment.
FLEXIBITY: The current economic environment is difficult. Be ready to adjust to the situation. Think about the kind of client you´re dealing with and adapt to meet the circumstances. Be prepared to accept a reasonable payment schedule. Work out what you want or what would be an acceptable payment schedule before you call. Do not go into negotiations without knowing what your willing to concede beforehand. NOTES: Keep detailed, accurate notes of every contact with the customer. Probe for further information on the customer. Notes of these contacts will help you in subsequent phone calls, and may be invaluable in litigation. Good notes will also help in further credit decisions, or in cases where skip tracing may be needed.
CONFIRMATION: Never let the debtor put you off with such terms as "We´ll talk next week," or "I´ll send what I can." Every contact should result in a commitment to payment, of a specific amount, by a specific date.
TIME: The longer an account is held, the less likely it is that it will be recovered. If payment or a payout is not arranged within 90 days, place the debt with New Zealand Blacklist.
Just as every company is specialist in their field, finding a specialist debt collection agency that fits your needs will expedite your debt being paid off. NZ Blacklist has been helping companies and individuals find the right agency to collect debt and we are confident that we can help you.
Our online systems support users to efficiently pursue delinquent accounts or bad debts anywhere in New Zealand.
List your debts for free on NZ Blacklist and take charge of your financial future
New Zealand Blacklist
www.nzblacklist.com www.nzblacklist.co.nz
Bad Debts are Bad Business
A client recently gave us instructions to engage a specialist collection company and collect a debt of $110,000 where they had given up expectation of recovery because the debt had been outstanding for over 4 months. Our client was embarrassed that they had left the debt outstanding for such a long period of time and that they had really done nothing about recovering it.
On the selected specialist collection agency receiving instructions from the client, money was secured within 8 working days . You should not delay in collecting what you are owed.
With a global financial crisis and recession, what can businesses in New Zealand do when facing such uncertainty?
Small business owners write off thousands of dollars of unpaid debts due to them. Most of these write offs occur unnecessarily. Whether for financial reasons or lack of understanding, small business owners simply do not pursue available collection methods for unpaid amounts they have a right to collect. Don’t write off a debt that is rightfully due and owing to you and your business. Why should you allow your business to be treated as a surrogate bank? NZ Blacklist provides many options available to client that may be successful in collecting money from an unwilling client or customer.
Here are three important key elements to think about in relation to your business:
1. There is less cash available in a distressed economy, and therefore to you and your business.
2. Demand for your offerings may slow significantly.
3. Your overheads may remain the same and cutting staff may be necessary if cashflow is not available.
In times of recession, it is harder for small to medium size businesses to borrow money. That means potentially, that your clients that usually pay on time are likely to find it harder to continue doing so. Your debtors could draw out longer than 30 or ever 60 days and to ease this burden, your organisation must become decisive in your accounts management and collect your money. NZ Blacklist can help in many ways.
Being proactive, NZ Blacklist can assist in review or development of terms of trade. Have terms of trade, specific to your business, in writing. This is your best proactive defence against late payers and bad debts. It can also cover your interest, legal and collection expenses. For a relatively small cost, NZ Blacklist can organise through our network partners a terms document that can assist your financial future.
For those debts or delinquent accounts that are over 30 days outstanding, make the proactive decision to call NZ Blacklist and ask for assistance. We have multiple options available to you that will increase your chances of being paid first. Just remember; The squeaky wheel gets the oil. Let NZ Blacklist help you get paid ahead of the rest.
We are committed to the success of our clients and their businesses. Our nationwide debt recovery network is committed to providing you a service that enables you to free your valuable time from chasing bad debts and delinquent or overdue accounts so you can concentrate on the effective running of your business.
Place the matter in the hands of NZ Blacklist and into the hands of true debt collection professionals.
We started NZ Blacklist Debt Collection Services some time ago and are now exceptionally happy with what we have achieved. From an idea born out of necessity, Blacklist developed a nationwide network of Competent, Motivated and Specialist Debt Collection and associated services in a short space of time which consistently deliver results across the nation. We feel complimented and privileged that there are imitation websites attempting to copy what we are doing at NZ blacklist.co.nz , and we are confident that there is only one Blacklist in NZ that delivers Debt Solutions the way NZ Blacklist does.
Make no mistakes when selecting a service to meet your needs....... choose NZ Blacklist, the original and proven debt collection online consultancy. More information is available here
TV3 News http://www.3news.co.nz/New-website-makes-life-easier-for-debt-ridden-SMEs/tabid/421/articleID/94783/cat/73/Default.aspx
Stuff News http://www.stuff.co.nz/sunday-star-times/business/2067745/Bad-debts-site-a-sign-of-times
News Album http://www.newsalbum.com/Read/396858-Virtual-Debt-Collection-Blacklist/
Stuff Business http://www.stuff.co.nz/business/2078154/Bad-debts-site-a-sign-of-times
Scoop Business http://www.scoop.co.nz/stories/BU0905/S00667.htm
Finda http://www.finda.co.nz/business/listing/4nb34r/nz-blacklist/
Federal Management http://www.federalmanagement.co.uk/news/tag/debt-collection-tenders
Chartered Accountants http://www.gilesandliew.co.nz/news/Newsletter%20winter%202009.pdf
Skynewswire http://www.skynewswire.com/modules/news/article.php?storyid=8771
Gopher http://www.gopher.co.nz/listing/3lgw/nz-blacklist.html
http://www.nzblacklist.co.nz/
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Make no mistake, when you are looking for debt collection agencies that are competent and willing to serve at competitive market rates, contact NZ Blacklist for the best results