Why use a debt collector ?
Debt collectors have the time and resources to get you paid. Appointing a debt collection specialist is sometimes all that is required to prompt a bad debtor to pay.
Chasing bad debtors can be energy and resource intensive. It also distracts you from doing the other things in your day that are probably more productive and enjoyable. By outsourcing the collection process you save time and money and avoid stress.
What does a debt collector actually do?
Arrow Recoveries will act on your behalf to collect your outstanding debts. We handle the entire process including locating your debtors, making contact with your debtors, negotiating and collecting payment, enforcing any arrangements and handling litigation if necessary. We act within the scope of your instructions and have the experience to effectively negotiate payments of your accounts.
What Quality Assurance standard do you comply with?
We hold a Debt Collectors Licence pursuant to the Debt Collectors Licensing Act 1964. In holding this licence we come under the regulations and guidelines of the Australian Securities and Investments Commission (ASIC) and Department of Commerce (WA).
How do I get started?
Getting started is simple. Fill in our online form or call our office.
What if the debtor pays me directly after referral to Arrow Recoveries?
It’s important that you notify us as soon as payment is received from your customer to avoid embarrassment or miscommunication with the debtor. You will be charged commission as per our Terms and Conditions.
What are your payment options for our debtors?
We offer a range of payment options including Direct Deposit and Payment Plan.
At what age can a debt still be recovered?
As a general guide debts can be recovered for up to six years. The rate of recovery decreases with age because as time goes on it is often harder to locate debtors. Your best chance for success is to engage a debt collector as soon as money becomes overdue.
Can I add the collection costs onto the debt?
This depends on the Terms and Conditions relating to the outstanding amount. In some cases you can charge late fees, interest, legal and recovery costs.