Debt Collection Process Flow

Debt collection flow confusing? This is one of the reasons that is keeping business owners from engaging the services of professional debt collectors to recoup accounts receivables. This infographic is a quick guide on how Slater Byrne Recoveries’ Auckland office recover your debts for you.

Day 1: Send a debt through, and a first letter/email/text will be issued immediately.

Within 7 days: Debtor often makes payment or contacts the clients directly within 7 days. If we receive payment/response, SBR will advise clients without delay.

After 7 days: If debtor does not respond, SBR will issue a reminder letter/email/text/phone call. We will conduct research to learn more about the debtor. It is best for you to include the complete contact information of the debtor to hasten our research.

After 14 days: SBR will issue a notice of impending legal action and and credit default letter.

Our collections staff will make phone calls to both client and debtor throughout this whole process.

If there is no resolution found, the SBR account manager assigned to you will advise you of the legal options that are available at this point. This may incur further costs but you will be given the option of proceeding if you wish.

Collection can take a minimum of 1 month. The entire process can go beyond this when working with difficult debtors. We may make referrals to debtor relief/debtor finance companies to help get your debt paid quicker in cases of financial hardship.

In some circumstances, your accounts manager may suggest legal action sooner due to certain disputes/non-contact. The onus is on you, the client, to decide at this point what you wish to do next to recover the debt.

If you are still confused or think you need further advice on your cash flow problem, our Slater Byrne Recoveries’ Auckland office is just a phone call away at 0800 445 870 and email at [email protected]

Slater Byrne Recoveries Process FLow

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