Monday, January 07, 2013 - Posted by Philip Harvey
Have you considered selling your debts?
LCollect has recently obtained
its National Credit Licence to purchase debts. We are excited to be
able to offer this service to our clients in addition to all our
The potential benefits to your organisation of this service are;
immediate cash / income to your organisation for debts that have been written as bad
assist in reducing Ombudsman fees and charges on debts where complaints may be lodged
- free up your team to collect the early day debts or assist in other areas of your organisation as needed
LCollect will continue to protect your brand and reputation.
Provisions can be built into the contract allowing you to buy back
accounts under certain circumstances (such as complaints, commercially
sensitive information etc). As a holder of a National Credit Licence we
are a member of COSL and are required to apply all IDR & EDR
processes as set out (including hardship). We will comply with all
relevant legislation (including ASIC/ACCC Debt Collection Guide,
We would welcome the opportunity to discuss this further with
you. If you are interested but uncertain about a debt sale, we would
suggest a test of this service. If debt sale is of interest to your
organisation please contact us.