FAQs
The invoice should be ‘overdue’ and that is subject to your payment terms. Typically, this is 30 days from invoice date but could be upon presentation, 7 days, 14 days, 30 days… An invoice becomes overdue the day after it should have been paid. If you do not have payment terms on your invoice/s then the default position is 30 days from the date of the invoice.
Yes, legally a debt can be enforced up to 6 years from the date of invoice.
Yes, but it depends on the dispute and if it is valid or not. Sometimes a dispute can just be a delay tactic and it all depends on what can be evidenced. Equally, there may be a partially valid dispute and therefore we may be able to negotiate a mutually acceptable settlement without the need of legal action however that requires both parties to be willing to come to a settlement with the other side. We will guide you through this process.
This is dependent upon your debtor and whether or not they engage with us. Typically, by the end of a 3-4 week period, we will know what efforts will need to be done to try to recover your debt. It may be that further action is required i.e. legal or insolvency at this point will discuss with you the next course of action.
We work on a No Collection, No Commission basis which means that we only charge our commission on monies recovered. Our commission rate is 10%. We deduct our fee off the gross value of the money we collect including for staged or part-payments by the debtor.