Cashflow is the lifeblood of every business. Obtaining new customers is just one part of the process. Ensuring that you get paid on time is just as important. With more than 80 years of experience collecting outstanding debts, Kearley Lewis has the expertise to help your business improve its total collections process
We offer our clients a choice of commission rates based on their requirements. Our levels of commission are based on two flat rates, one for debts under $2,000.00 and one for debts over $2,000.00, we do not have any confusing sliding scale commission rates. We also offer a firm commitment to refer payments to you faster by having the debtor pay directly into your account, or have cheques made out to your company. This assists you with your cash flow, as we do not hold your money in our trust account for lengthy periods of time. The Kearley Lewis accounting system will invoice you at the beginning of each month for the agreed commission rate + GST.
We offer debtors a variety of payment options to make payments that are owed to you. Options for payment of debts include;
Statutory Demands & Wind Up Notices
A Statutory Demand is a legal document that works in the same way as a Bankruptcy Notice does on an individual, but on a company. Statutory Demand can be issued for debts over $2,000.00.
The effect of the Demand is that once the Demand is sent to the registered office of the Company, the Company has 21 days to pay the debt set out in the Demand, otherwise it is deemed to be insolvent. A Statutory Demand can be with a judgment, and as a consequence there are fewer grounds to set aside the demand. Alternatively a Statutory Demand can be supported by an affidavit where the debt is not disputed. This may be advantageous if you do not wish to issue legal proceedings but still want to attempt to recover the debt. A Statutory Demand can be challenged, however, if the debtor has a genuine dispute that the debt is due and payable.
Issuing and Service of Warrants
A Warrant is the official document that empowers a Sheriff to seize and sell a debtor’s stock after a judgment has been entered against a debtor. Once judgment is entered, we draft, file and issue the Warrant to the Sheriff with an address for execution.
The Sheriff, empowered by the Warrant, attends the Debtor’s business or residential address and will attempt to seize stock, goods and chattels which it will then sell to recoup the amount of the judgment debt. A Sheriff can seize property that is not encumbered, such as a car without finance, but cannot seize property that are the tools of the debtor’s trade. Notably, a Sheriff’s warrant is quite useful when dealing with individuals who run businesses, because if the Warrant is unsuccessful, they are presumed insolvent. At the same time, a Sheriff knocking on the door can lead to payment of the outstanding debt.
Access to in House Lawyers
We are able to give you comprehensive advice on all aspects relating to debt collection. We work alongside the staff at Lewis Holdway Lawyers, which means if you require the advice of a Lawyer, we can put you in touch with them.
Kearley Lewis provides basic skip tracing as part of the package to our members, we only charge if we have to engage external resources. We will work do everything we can to track down missing debtors and collect our clients’ outstanding debts.
As investigation work is a specialised field, we use several external investigation agencies across Australia to source the best outcome for our clients, in collecting their outstanding debts.
In late December 2012 we launched our very own iphone app, the app gives clients the flexibility to create final notice and direct action letters on the go, check the status of their debtors through the App among other things. The app is only accessible to clients using their unique username and password.