FAQ's

Which is the best package for me?
Answer

When is the best time to place an account for collection?
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What is the best action to take?
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What if the debtor contacts me after I have place an account for collection?
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What am I entitled to collect back from the debtor?
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When is a debt too old?
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Where can’t I collect from a debtor?
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If you would like to ask a question that is not shown above, fill out the form on our contact page or telephone 02 9285 2800 and we will get back to you with the answer.

 

Forster Mercantile’s debt collection is not limited to Australia. For many years we have been collecting debts worldwide.

Generally the oldest debt that you are entitled to collect is 6 years old.

Depending on your agreement with the debtor, the amount that you are entitled to recover will vary.
Does your agreement include interest? If Yes, that can be added to the debt value.
Does your agreement allow you to claim all collection costs? If Yes, they can be added.
Regardless of what your agreement includes, you are entitled to recovery must solicitors costs, court fees
and interest (at the court rate on debts over $1000 NSW).

Refer them to Forster Mercantile. We will address the issues and advise you. We will do the work.
The age  of the account is often the answer. If your debtor is just overdue, consider a Forster Mercantile Demand Letter,
but if they are giving you the run around, not returning calls or bouncing cheques, the Immediate Action is the way to go.
As a general rule, we suggest that you commence collection action at double your trading terms.
Therefore if your terms are 30 days, collection action should commence at 60 days. You must remember
that an overdue account is a debtor not a customer. When they pay, they can again be a customer.

If you have an ongoing need for our collection service, our packages allow you to reduce the amount of commission you pay
by selecting an annual premium.
Our $440 package gives you a commission rate of just 5%
Our $220 package gives you a commission rate of just 7%
Our $55 package gives you a commission rate of 10%