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Our accountant suggested Score. We gave them a debt we gave up on and they got it straight away. Over a year later and we can highly recommend them...

Kylie Cooper, S&K Photography

Of note are Scores prompt responses and approach to the recovery of the debt. We have had a 100% successful outcome over the past 6 years...

Ola Sunmola, Acos Personnel

We wanted to avoid expensive legal fees and from day one we saw results. Score have recovered all the debt outstanding and kept in touch throughout the process...

Gordon Johnson, Rydon Group Holdings

We started using Score 3 months ago after using another collection company for many years with minimal recovery. Couldn�t be happier, we are now getting results, our bad debts are down...

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After sending our debts to Score they have achieved an awesome 100% success rate. I would not hesitate to recommend Score Debt Management to anyone...

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News

Are Debt Collectors Getting a Bad Rap in Australia During These Tough Times?

Monday, 13 September 2010 11:38

While the business of debt collection during the current global economic crisis may seem cold and even heartless , we have to consider both sides of a bad situation as the businesses they represent face tough times too trying to pay their own employees while facing a negative cash flow due to unpaid debts. When we realize that the debt collector calling for the hundredth time about an unsettled bill or setting up a fair payment plan are doing so on behalf of creditors who have bills to pay too then who do we feel sympathy for? It must be remembered that debtors enter into a credit contract and the clients of debt collection agencies are not responsible for any subsequent defaults, the debtor is! Creditors are only seeking to recover what they are legally entitled to. Unfortunately, despite this more human perspective on the business of debt collection, debt collectors are still ripe for negative sentiment particularly during hard times.

In Australia, where Australians are spending about 12% of their disposable income on interest repayments alone, debt collectors are certainly more visible. Furthermore, consumer credit card debt in Australia is at a record high of $39.6 billion. The aforementioned overwhelming interest repayments are due to the outstanding average balance that most Australians carry. When the debt collectors arrive to reclaim just a small portion of that $39.6 billion, are they really the vultures or bottom feeders we cannot sympathize with?

On the contrary, when debt collectors act quickly to remedy bad debts, they are, in fact, helping to stabilize the economy and perhaps even the country, one debt a time, by unblocking often worthless debts that clog the country’s financial arteries and future good health. While no one is likely to call them heroes (not even themselves), debt collectors do play a major role in the country’s economic recovery.

While there are many unscrupulous debt collectors popping up during the worldwide economic collapse, the legitimate ones know their professional role. In the end, the legitimate collection agencies are helping to rectify a bad problem that has gotten worse.

 

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