Frequently Asked Questions
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What is SmartCollect’s Collection Fee?
SmartCollect charges a 20% commission on all collections. That means 20% on collected debt. It does not charge its fees and commissions based on a sliding scale.
What is SmartCollect’s fee if the recovery is unsuccessful?
Nothing… no recovery, no fees!
How old can a debt be?
SmartCollect can attempt to recover a debt at any particular point in time irrespective of its age. Legal action however to recover a debt must be commenced within 6 years from the date when the debt first came about or was due for payment.
How long does it take to recover a debt?
The duration for which the debt recovery process can last varies widely in accordance with a number of factors including, but not limited to, the ability to communicate with the debtor, the attitude of the debtor and the debtor’s financial position.
When do you get paid?
SmartCollect’s usual practice is to deposit through to the client the remaining balance (after collections costs have been paid) upon completion of the debt collection process. Exceptions to this general practice may be negotiated.
Does SmartCollect customise the demand letters it sends out?
Yes. SmartCollect does not send template demand letters. Letters are crafted to each creditor’s needs and each individual debtor facts.
What happens if the debtor is bankrupt/insolvent?
If a debtor is bankrupt/insolvent, this hinders SmartCollect’s ability to recover the debt as all of their assets are sold and the proceeds are shared between all of the debtor’s creditors.
Is SmartCollect able to pursue debtors anywhere in Australia?
Yes. SmartCollect operates nationally and is able to pursue debtors Australia wide for collection.
What happens if you do not have a current address for the debtor?
If the debtor is an individual, SmartCollect can engage an inquiry agent in attempt to locate the debtor’s whereabouts. If the debtor is a company, SmartCollect can perform the appropriate searches to determine the company’s registered address.
Are SmartCollect’s collectors legally trained?
Yes. SmartCollect’s collectors are all legally trained and come equipped with both legal knowledge and experience. You therefore benefit from our collectors having legally trained skill sets without having to pay legal fees!
What happens if legal action is required?
In the event that your matter reaches a point where you need a civil claim issued and heard before the court, we would then, on your instructions, engage WBH Legal (SmartCollect’s affiliate company) to act on your behalf.
The transition from SmartCollect to WBH Legal is seamless in that you only have the one person managing both the collection and legal process for you. WBH Legal’s Solicitor Fees are charged in accordance with the relevant prescribed court scales and, in their entirety, are added to the amount of debt to be paid by the debtor.