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Debt Collection Tools

Useful tools to help your business get paid

Debt Collection Tools

Have you ever had a customer drag out payment or had an outstanding debt that you just couldn’t collect? CreditorWatch members get access to a suite of debt collection tools for every stage of the debt collection process.

Our great range of debt collection tools, to ensure you get paid

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CreditorWatch Logo

Firstly, to assist in the recovery of outstanding debts you need to make your payment requests stand out by attaching the CreditorWatch membership logo to your invoices and statements. Our research has shown that the logo will encourage your customers to pay on time and can help reduce the time it takes to get paid by an average of almost 7 days.

Debt collection letter

Still not paying? If you need something a little more forceful, download one of our debt collection letters - a final notice template or letter of demand - that spells out the next steps you will take to get paid.

“Unless this invoice is paid within 7 days, we will have no alternative but to commence legal action and register a payment default against your credit file with CreditorWatch, Australia’s largest credit reporting bureau. This can affect your credit rating and make it difficult to get credit in the future.”

Register a default

A default is a black mark against a customer’s credit file indicating they have failed to pay a debt, or are a slow paying customer. It is then visible to anyone who purchases their credit file in the future.

Registering a default is a powerful debt collection tool that will often encourage a customer to pay their debt for fear of ruining their credit report or credit rating.

CreditorWatch Tip

Have a strategy in place for collecting payments from customers, and stick to it. Set diary reminders when you need to send invoices, statements and final notices. Businesses who don’t follow up payment, get paid last.

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