Debt Collection Information

Debt Collection Information

There are reasons that you have not been able to collect your outstanding debt. The reasons can vary, however unfortunately in a lot of cases, debtors order goods and services or loan money, without a clear contractual intention to pay. In short many debts are essentially breaches of Contract. The essential elements of Contract Law are the following:

• 1. There was an offer.

• 2. The offer was accepted.

• 3. Consideration [payment] was agreed.

• 4. The arrangement was lawful.

• 5. The parties had capacity to enter into the contract.

• 6. The parties agreed that the arrangement was binding.

Many debtors who do not intend to pay are clear at manipulation of the situation and use excuses to avoid the debt. In our experience, examples include inter alia:

• Goods or services were not supplied.

• Goods or services were not supplied in the manner represented or agreed.

• Fees and our Terms were not discussed or agreed.

• There was no invoice or statement.

It is therefore absolutely imperative that when we act for you, we know every fact, enabling us to counter any objection or excuse. Examples include:

• Procurement communication

• Supply evidence

• Communication records.

The following represents best practice information required for effective debt collection.

Please attempt to provide all information to the best of your knowledge.

Section 1. Creditor Information [About You]

To legally enforce an outstanding debt, the Creditors’ legal identity must be established:

• 1. Contact Person:

• 2. Position:

• 3. Phone.

• 4. Email:

• 5. The business full legal name:

• 6. Are you [the Creditor] a business or individual. Please specify:

• Company.

• Trust.

• Trading Name.

• Individual

• 7. ABN:

• 8. ACN:

• 9. Business address:

• 10. Registered address.

• 11. Director or business owner name:

• 12. Summary of business service offerings.

Section 2. Debtor's Information [About the Debtor]

To legally enforce an outstanding debt, the Debtor’s legal identity must be established:

• 1. Debtor's full legal name.

• 2. Debtor's contact person.

• 3. Contact phone.

• 4. Contact email.

• 5. Is the debtor [business or individual] a:

• Company.

• Trust.

• Trading Name.

• Individual

• 6. ABN:

• 7. ACN:

• 8. Business address:

• 9. Registered address.

• 10. Director or business owner name.

• 11. Debtor further relevant information: [Known other debts, Date of Birth, social media, media articles, criminal conduct]

Section 3. The Amount of the Debt:

To legally enforce an outstanding debt, the exact amount of the debt must be established:

• 1. Total Amount of debt owing for services, products, loan, or other conditions:

• 2. Date that the debt/s was due and payable:

• 3. Is interest payable as per Terms and Conditions [T&C] including provision for liquidated damages: [i.e., do you have provision for interest as part of your T & C]

• 4. If interest is applicable, what is the rate of interest?

• 5. How much interest is payable of the time of completion of this information.

Section 4. The Nature of the Debt:

To legally enforce an outstanding debt, procurement of the debt must be established:

[Offer + Acceptance + Consideration]

• 1. What is the payment of the debt for:

• Goods/Products.

• Materials.

• Services.

• Loan.

• Condition.

• Other

• 2. Provide a detailed summary of the Debt Timeline. Attempt to include:

• Relationship history.

• Debtor payment history.

• Date of procurement of goods and services.

• Who procured goods and services, loan or condition.

• Outline details of procurement of goods and services, loan or condition required.

• Date when debtor agreed to the offer to provide goods, services, loan, or other conditions.

• Advise if and how the debtor agreed to the offer of goods, services, loan, or other conditions, and what was agreed.

• Outline what agreement regarding payment amount, & terms and conditions were made.

Section 5. The Performance of the Services:

To legally enforce an outstanding debt, the performance of contract to supply goods, services, a loan, condition or other must be established:

• 1. Provide a summary of what was performed by you:

• 2. Provide the date/s of the performance by you.

• 3. Are you prohibited by law from performing the supply of goods, services, loan, or other conditions?

• 4. If supply is regulated, please provide a summary. E.g. [Legal Services]

Section 6. Payment

• 1. How did you ask for payment: [e.g., Invoice]

• 2. Date request for payment was made.

• 3. List all further requests for payment.

• 4. List any amount paid by the debtor and when.

• 5. Outline details of admission or liability for debt; [oral, email, other]

• 6. Outline any reason debtor has offered for non-payment of debt.

• 7. Outline all details of any repayment plan entered into by the debtor.

• 8. Outline detail of last communication with the debtor.

• 9. Provide your opinion about why the debt remains outstanding.

Section 7. Evidence:

Enclose:

• 1. All written [email] communication.

• 2. All SMS communication.

• 3. All notes/Portal Records.

• 4. Terms and Conditions or Agreement.

• 5. Relevant Clauses related to late payments, penalties, or default.

• 6. Invoice/s; [including delivery evidence]

• 7. Statements; [including delivery evidence]

• 8. Documentation of resolution attempts:

• 9. Legal Action Taken [if applicable]:

• 10. Court Orders, Judgments, or Lien’s.

• 11. Searches [ e.g. ASIC Search – You, ASIC Search – The Debtor]

• 12. Other relevant Information

Section 8. Your Bank Detail: [For Disbursements]

• 1. Account Name:

• 2. Bank :

• 3. BSB :

• 4. Account No :

• 5. SWIFT CODE: