Are you looking for debt collection services in and around the Mandurah area? BCA Debt has assisted thousands of large and small businesses around Australia to recoup outstanding money and provide services in the Mandurah and surrounding areas. BCA Debt implements a proven 6 Step Debt Collection process to professionally and efficiently recover monies owed to your company with personal service and 24-hour secure access to the status of your debt. BCA Debt provide debt collection expertise and services throughout Western Australia including the local areas of: The City of Mandurah North of Mandurah – including Safety Bay, Rockingham, Port…
Are you having disputes with customers over money they owe you or late payers who are stifling your cash flow? We understand how frustrating this can be; we have worked with many clients over the years who have lost money when it could have been avoided.   Why risk the loss of income which could cause financial difficulty? Could you be missing the essential elements the majority of successful businesses use to safeguard their finances?   The bad news is, your late payers are using your money while you may be suffering from cash flow problems. Let me help you…
Often when work is completed sending your invoice is the last thing on your mind, but actually, it should be on your mind all through the job, if you are billing for hours keeping good records as you go can help make the invoicing process a lot easier. Make sure your billing is detailed, set aside time at the end of each session for this. I can’t tell you how many debts we have that are disputed overtime issues. Keep detailed records of your time If it’s possible, get your customer to sign off on your times especially if the…
Who is doing the invoicing? Getting paid for the job you have done is your customer appreciating the work you have done, getting paid quickly by your customer is the ultimate compliment.So how do you make sure you get paid quickly?  Make sure you do a good job Communicate upfront with your customer before any work has been done exactly what they should expect. Have a contract with all your Terms and Conditions signed by them Invoice immediately, that is straight after the job is completed I can’t stress how important it is to invoice straight away. Therefore, you need…
Who is paying the invoice?Often an invoice is disputed because it has been sent to the wrong person or written out to the wrong entity.Make sure the entity you are dealing with is an enforceable entity, we often see invoices made out to entities that cannot be sued. As you know, invoicing is one of the most important elements for getting paid for the work you have done, making it important that you are issuing them to an enforceable entity.A common mistake many businesses make is issuing an invoice to a business name.Now, I can hear you saying 'what’s wrong…
This may sound like a pretty simple question, but honestly, it is a very confusing event when this happens to your debtor. Insolvency refers to a company that can’t pay its debts when they fall due. It is an offense of the Corporation Act to run a company that is not solvent.There are three procedures that are generally taken out when a company becomes insolvent. These procedures may be self-imposed or imposed by external forces. The following refers only to a company. 1. Voluntary Administration: This is when either the directors or a major creditor appoints an external administrator to…
When it comes to Tax Invoices, as a business you have requirements that must be met. To start with if you are registered for GST your invoice should be referred to as a Tax Invoice if you are not registered it is referred to as an invoice.No matter what you call it, there is necessary information that needs to be on your invoice to meet the requirements of the ATO.If you're registered for GST, your tax invoices should contain the following information: your business name your Australian business number (ABN) the words ‘tax invoice’ an invoice number the amount of…
When a customer goes into receivership or administration, or even just has another larger creditor pursuing them for money owed. SME's like yourself can often find themselves at the end of a long queue waiting to be paid. Up until 2009, there was little that SMEs could do to protect their interests, that all changed with the introduction of the Commonwealth Government’s Personal Property Securities Register (PPSR). With the PPSR, SMEs can register their interest in their stock, or money owed, or even equipment on lease, to prevent other creditors from taking control and selling the goods. What is a…
When you are taking on new customers are you setting the standard, and do they know your rules and how you intend to provide your goods and or services? A lot of businesses do not actually know who they dealing with, or even if they have the ability to pay you. The responsibility of risk assessment and due diligence can often fall solely onto the business owner or not at all. Due diligence is what the lawyers use to say, ‘have you done what you should be doing to avoid breaking the law’. Risk assessment is when you are conducting…
Anytime your business does a job on an invoice for goods or services you provide to customers and they take their time in paying you, they effectively have your money in their bank account. How often have you been paying your bills and leave the suppliers who don’t hassle you to last? Let's face it it’s the squeaky wheel that gets oiled first, I know because I have done this myself. It took time for me to truly learn this lesson because for the first few years of running my business I ran the books myself because I was so…
Over the years this has been a contentious issue here at BCA Debt.  The reason why is because when a business charges a customer for a missed appointment, they usually refuse to pay and it ends up in all sorts of arguments. Understandably if you are running a business and you set aside time for a customer or patient for a consultation and they do not turn up you have lost time and money.  However putting the boot on the other foot, a customer or patient who does not show up for an appointment has not received the services but…
Let’s face it one of the first things you think of when you go into business is not who is going to follow up on late payers and manage the list of debtors. The reality is that this role is largely one of the most important and usually ends up being the last thing on the list and mostly ends up on the list because there is a problem. It may not be so bad if you only have a few companies that are late payers, but I know in my business that is not the case. Bizarrely it is…
In 2015 we were approached by an earthmoving company that had done some work for a builder. The total value of the work done was just under $6,500. This debt was going to be difficult to collect right from the start as the earthmover: didn’t do any credit reference checks on the builder only gave a verbal quote for the job didn’t have the builder sign a contract backed with terms and conditions that had been vetted by a lawyer didn’t have the builder sign a Director’s guarantee saying he would honour the debt if the business defaulted on the…
Due to the nature of our business, we often have to tell ‘bad luck’ stories of clients to help prevent others suffering the same fate. Today is a good news story though. It has nothing to do with luck and everything to do with preparation. Our client was (still is) a steel fabricator, providing custom steel work for their clients. It’s specialist work and, once a project is made, it pretty much can’t be used anywhere else, even reclaiming the work done is of little value to the fabricator. Fortunately, they recognised the risks of providing credit and approached us…
It’s always pleasing when a client places a big order but once the goods are delivered and the sale becomes a debt, that big order can turn into a big problem. Such was the case for a winery that contacted us to pursue a client debt of more than $170,000. We reacted pretty quickly and managed to collect a little over $30,000 but, after some time the debtor wound up the business, making all remaining debts uncollectible. This put a massive dent in the winery’s cash flow for some time and put the business at serious risk. That risk could…
Recently we had a client ring with an interesting question which I would like to share. This client runs an engineering company and had done some modifications on a vehicle. The customer had some issues with the modifications. The client rectified these immediately then had the changes approved by the licencing department. Our client made these changes at their cost, however, the customer had made a further request for additional work to be done on the car that was not part of the original design issues. When the work had all been completed the client sent the bill for the…
Did you know that you can get one free credit score per year?  What’s a credit score I hear you say? It’s the score that financial institutions use to access your creditworthiness when applying for loans or such. This information is stored on your credit file by a Credit Reporting Body. There are three credit reporting bodies in Australia.   Veda:  MyCreditFile.com.au (Veda) Phone: 1300 762 207 (note Veda is now Equifax) https://www.equifax.com.au/contact D&B: CheckYourCredit.com.au Phone: 1300 734 806 Experian: Experian Credit Services Phone: 1300 783 684 Your credit score is a number from 0 to 1200 and is calculated from…
We had a client asking if they could put a caveat on their debtor’s house as a means of recouping their debt. I did some investigating into this for them and found that placing a caveat on someone’s house is not a simple process. Firstly the person you are doing the work for must be the same person who owns the house and if there are joint owners both must agree to the caveat. Not only that, the work must have been done on the property, meaning there must be caveatable interest in the land. Interests that do not give…
Here at BCA Debt, we're often asked to collect debts on behalf of tradespeople. Unfortunately, it's an area that is fraught with misunderstandings that often leave the tradespeople out of pocket. In one such case we had recently, a plumber was asked to quote on two jobs at a property that was being renovated. The plumber quoted on the jobs and these were accepted by the client. When the plumber completed the first job and invoiced the client, she refused to pay, saying that she had wanted the other job to be done first as she had tilers who were…
Smart business people know that a sale is not a sale until they are paid, smart business people also know it is not always possible to be paid right at the time of the sale or when an order is placed and the smart thing to do is to give their customers time to pay or 'put it on the books' rather than lose that sale. Once you allow your customer to book up your products you are entering into a credit situation.  This really means they are lending money from you to pay for the products they have purchased,…
Time and time again we see situations where a debt has been left for so long that the client and customer relationship has broken down. Usually, this happens because someone is not dealing with complaints or customer service issues and because of this disputes and problems are left to fester. Often many thousands of dollars are left sitting on accounts ledgers because the business does not have adequate complaint policies in place. One of the biggest problems is when the dissatisfied customer has to employ another service provider to fix issues that have not been rectified, this is when it becomes…
It seems that we are well and truly into Election mode here in Australia and the media has definitely not let up on this. There has been a very thorough campaign drive to get Australians to enrol to vote and having twin boys just turned 18 has also highlighted this in our household. I know some of you savvy business people may be thinking this would be a great time to head down to the electoral office and have a look for fresh information on some lost debtors. If you weren’t thinking of this and now are please read on,…
No matter how frustrated we get at the people who owe us money, when it comes to debt collection you must be careful you do not defame your debtor. As you know being owed money comes with a myriad of emotions and the tendency to voice opinions about the person who owes you money.  Whilst I understand the obvious need to vent frustration it can come to the point where you may be defaming that person. So what exactly is defaming a person? Well you have defamed a person if you make statements about them that Could lower the persons'…
I am always on the lookout for good resource to help people with their finances and businesses in general and just lately I have found myself repeatedly going to a government website called Money Smart. (https://www.moneysmart.gov.au/) The website is not actually business focused it is more for consumers, but it has so much great information that I feel it could benefit everyone. I hope that I am not telling you to suck eggs and that you already know about this site, but it’s really good. There are tonnes of information about borrowing money and managing finances, there are also some…
If you supply a trade or service on credit, such as 7, 14 or 30-day payment terms, you need an effective contract to protect yourself from disputes and people who don't pay or pay late. In the many years of running BCA Debt, we have observed five common mistakes businesses make! By changing these five mistakes, you can prevent your customers from becoming debtors and increase your cash flow. 5 Common Mistakes Businesses Make; Business does not have clear credit management policies. The quoting process does not clearly define the outcomes of the job, for both the service provider and…
I am not sure if many businesses realise there have been changes to the privacy laws and these changes affect everyone in business who collects information from their customers. The privacy act now includes 13 new harmonising Privacy Principles, known as the 13 APP (13 Australian Privacy Principles). The first thing you need to know about these principles is, if you breach them you may be up for a very hefty fine, the privacy commissioner has the power to seek civil penalties of up to $1.7million. Not only that, if there is a breach and a civil penalty is imposed…
It's just unbelievable how much the debt collection industry has changed and now there are more changes about to happen in the Credit Providers arena. As of the 14 March 2014 new laws will come in that will change the way credit is given to consumers. This will undoubtedly have an effect on business in general, the changes have been brought in to enable Credit Providers to cross reference consumers credit information. The information provided on a consumer's credit file will now include payment history on all credit providers accounts. What does this mean: late payments will be reported on…
What is a Statute Barred Debt? These are debts that have to reach the statutory limitation period.  This means that the debt has reached an age where it is no longer legal to pursue.  Each state of Australia has a period of time where a debt can be pursued, and has legislation in place that outlines what happens when the limitation period has expired. Limitation period for simple contract: Limitation periods for unsecured personal loans and credit cards and the majority of debts sold or referred to a collection agency will arise from simple contracts.  In all states the limitation…

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