We understand
Liquid assets are critical to settle short-term financial obligations
Chasing debtors to pay is time consuming
The importance of maintaining positive client relationships
Effective debt collection requires expert support
Clear pay-terms set the right expectations
The right policies and procedures improve invoice substantiation
Business guidance and support
No matter where you are in the debt cycle, we can help you with:
- Drafting terms and conditions to establish clear payment terms and communicate them to clients upfront
- Establishing processes to track payments, issuing reminder notices and Letter of Demand to reduce cashflow gaps
- Escalating bad debts and write-off’s
- Dispute resolution and mediation
Support with managing your cashflow
Our team of qualified Finance and Legal Specialists can help you with debt prevention, debt management and resolving disputes.
Marie Cocheril
Senior Commercial Lawyer Read Bio
Marie Cocheril
Senior Commercial Lawyer
Marie is a senior corporate and commercial lawyer. Marie has an LL.B (Hons) and an LL.M (Corporate & Commercial) and is also a graduate of the Australian Institute of Company Directors. Marie has strong leadership experience, having worked closely with CEOs, Boards, and stakeholders to provide legal & compliance advice, corporate governance, strategic development & mitigation of organisational risk advice.
She is a hands-on lawyer with experience in commercial contracts, intellectual property law, procurement, information technology, competition and consumer law, insurance, and privacy (including management of big data).
Agnes Reed
Finance Manager Read Bio
Agnes Reed
Finance Manager
Agnes has over 25 years of experience in finance and commerce, both as a senior financial analyst in multinational companies and as a finance manager for local businesses. Agnes supported companies in industries such as information technology, consulting, and professional service. In her approach to work, Agnes pays great attention to details, is very meticulous, and takes pride in delivering outstanding service to her clients.
She specialises in credit control, profit optimisation, and cashflow management in addition to mastering financial administration functions such as payroll, accounts payable and receivables, pricing, banking, and reconciling of ledger accounts. Agnes has a Bachelor of Science in Commerce with an Accounting Major.
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Frequently asked questions
Have questions? We are here to help.
In some circumstances, having the debt referred to a debt collector and paying a commission only on any payments made towards the debt may be the best option. Additionally, debt collectors have the ability to default debtors, which marks their credit report for a 5-year period, making it difficult for them to obtain credit from future suppliers and banks etc.
There are strict behavioural rules that apply to Debt Collectors, that need to be adhered to. Before you engage with a Debt Collector, speak to the team at Business Solutions Hub about the process and the behavioural rules that apply.
Reminder notices can be letters or statements sent to debtors to remind them of an outstanding debt that needs to be paid. These notices are typically used when a debt has not been paid within the agreed upon time frame and are meant to prompt the debtor to take action and pay the debt.
The Business Solutions Hub Debt Recovery Handbook outlines important information you should consider including with your reminder notices and when you should send the reminders.
The Security of Payments Act 2002 (SOP Act) guarantees timely payment for construction work or related goods and services provided under a construction contract. It offers a simple and inexpensive way to recover payments without the involvement of lawyers. The Act applies to construction contracts made after 30 March 2007.
The SOP Act applies to builders and contractors, subcontractors, suppliers of goods and services, and owners of building projects. It applies to all security payments made in connection with building work, including progress payments, retention payments, and advance payments; and covers a variety of work.
The team at Business Solutions Hub can advise how the Act can help you get paid sooner and assist you with lodging your claims and notices. Call 1300 445 687 for more information.