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Home Contact Return to Our Services Debt Collection CostsThe charges below are current to May 31st 2012.
We charge a subscription for using our debt collection service to cover debt loading administration. We also charge commission on debts collected.
Administration Subscription/Debt Loading ChargeMost of our clients pay the annual subscription. This is currently $225 + GST for the first year and $175 + GST for subsequent years. Having paid the annual subscription, clients can then load as many debts as they like. If you only have one or two debts to collect, and don't think you are likely to have more than that each year, then there is an option to pay a debt loading fee of $75 + GST per debt. Once you have 3 or more debts to collect in any given year, it is more cost effective to pay the annual subscription. We will convert your one-off debt loading fees to an annual subscription if you load 3 or more debts in the same year. Your annual subscription or debt loading fee covers the initial loading of the debt in our system. All our standard letters, follow up phone calls and monitoring of payment arrangements. Veda Loading and Field Visits Now Included !!Your annual subscription or debt loading fee now includes loading on the Veda Credit Risk Register and/or field visits as necessary. We will carry out these actions as and when appropriate and necessary at no further charge to the client. The costs will be added to the debt and will be the liability of the debtor, but we will only be paid these fees if and when we collect them from the debtor.Collection CostsWe charge commission on all money collected once a debt has been lodged in our system. This applies to funds paid direct by the debtor to you, the client, as well as funds paid to us. We invoice clients for collection costs due to us if funds are paid direct to the client. For debts of less than $300 we charge a flat rate of $60 + GST. For debts over $300 we charge 20% + GST. If your terms and conditions allow for collection costs to be added, the collection commission can be added to the debt. We would then demand the debt amount plus our commission from the debtor. Please note that debtors may challenge collection costs being added, in which case you will need to demonstrate that your terms and conditions cover this and that the debtor was made aware of this before engaging your services. If a debtor part pays the debt, we will be entitled to our commission on the amount paid. We will continue collection activity on the outstanding balance.
Notes: Total Debt Solutions (2009) Ltd may from time to time, at our discretion, choose to initiate veda loading, credit checks or field visits without charging the client. This provides additional benefits to our clients at no extra cost. In these circumstances, we will normally add the cost of the relevant action to the debt (assuming the client has appropriate terms and conditions in place) but will not invoice the client. Where we have not charged our client for the action, any information gathered through taking these actions is the property/intellectual property of Total Debt Solutions (2009) Ltd. We are not obliged to share this information with the relevant client/clients. Home Contact Return to Our Services |