The best way to deal with bad debts is not to have any at all!  How can this be achieved?

• Diligent, regular book keeping.
• Stringent credit checking of applications for new accounts.

We can assist with systems to avoid bad debts.

However, every firm at some time has bad debtors, and for the sake of the company’s survival and the job security of its employees (and its own credit rating), bad debts must be identified and dealt with promptly.  Early attention to debt recovery is vital to its success and how necessary it is to deal with recalcitrant payers firmly at the earliest opportunity.

We, at Rainey Collins, have a dedicated debt-recovery team.  We have a great deal of experience in the debt collection field and are very aware of what a drain on a firm’s resources bad debtors are.

Some of the steps, which may be involved in debt collection, are:

• Letter of demand. 
• Phone calls to debtors at home and or work. 
• Instalment arrangements to suit. 
• Judgment (undefended): 
  • Preparation and filing proceedings, 
  • Appearance on judgment. 
• Judgment (defended): 
  • Preparation and filing proceedings, 
  • Receiving a statement of defence, 
  • Preparation of all timetabling matters, 
  • Attending to discovery of documentation, 
  • Briefing any witnesses, 
  • Preparing for hearing, 
  • Attendance at hearing. 
• Enforcement: bankruptcy, attachment of wages, writ of sale of property, winding up of company.

Fees will vary depending on the complexity and amount of the claim and the steps involved in pursuing the debtor, the cost of serving proceedings will depend on how difficult the debtor is to locate, advertising costs vary depending on location.

We charge for an initial letter of demand at a set fee which includes some follow up contact by phone with the debtor.

We are engaged to collect debts throughout New Zealand for individuals and large corporate clients.  We have a reputation for success. Give us a try with your bad debtors.