Xservices Pty Ltd | Collection agency

Xservices Pty Ltd

Phone: +61 3 9077 9780

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• Collection agency

20.01.2022 Xservice Commercial Collections help businesses to recover outstanding receivables on a No Win, No Fee basis. High recovery rate, simple process and save headaches. Visit our website www.xservices.online for more information.

13.01.2022 5 Reasons You Should Hire A Professional Debt Collector Good accounts receivable is essential to the success of all businesses. However, it is not always easy to keep all accounts being settled on time, often, a growing pile of unpaid invoices could be left over. As business owners, busying between daily operations, taking care of all crucial day-to-day tasks, how to squeeze time to chase after overdue accounts? Especially the chances to recover would be lower with the debts ...get older. Partner with a Debt Collection Agency is the solution. 1. Professionalism Collecting money is the core focus of them, unlike business owners that have to deal with all aspects in a business, there is only one goal for debt collectors to recover debts. They focus their time chasing your money and to get you paid as soon as possible. 2. Affordability Debt recovery agency usually working on a no win no fee basis, which means you’ll lose nothing if your receivables are not successfully recovered. Despite some debt collection agencies may charge monthly/annual/membership fee, in most cases it is actually a more economical option depending on the amount outstanding. 3. Professional Resources More importantly, debt collection specialist has the most updated knowledge of debt collection legislation, has access to a wide range of tools and strategies, public records databases and credit reporting bodies which could help make the process more efficient. 4. Flexibility You might assume that hiring a third party debt collector could alienate your customer, but it may not necessarily to be the case. A recovery agency understands that companies have different needs when it comes to recovering unpaid debts, a professional recovery agency can offer a wide range of debt collection services that allow you to choose the one suits you best. 5. Not Only Collect Debt Professional debt collectors could not only help you to recover outstanding invoices, but also guide you on how to reduce potential losses in future, how to improve profits and increase cash flow. About Xservices Xservices is a professional debt collection company that specialise in commercial debt recovery & credit management for SMEs. Whether you need assistance with receivable process utilization or collection of bad debts, we CAN help. If you are looking to partner with a result driven debt recovery company, please feel free to call us on (03) 9077 9780, or visit our website for more information https://www.xservicedebtcollection.com.au/

10.01.2022 B2B Case Study The client: One of Australia’s leading solar wholesaler Debt amount: Approximately $60k... Background: Debtor is a solar energy franchise, under restructuring with no assured date to finalise the restructure The results: Xservices were engaged on 24/03/2021, actions taken immediately. On 08/04/2021, 9 business days, outstanding invoices + debt collection costs + interests have all been fully recovered. Conclusion: The success of this case can be largely attributed to creditor’s good receivable protection mechanism, with credit application form in place plus guarantee and indemnity. Hence Xservices were able to act through multiple ways, not only the debtor business, but also the guarantor, the franchisee, the master franchisor, and their lawyer in between (for restructure) that all contributed to the success. Have 60+ days outstanding receivables? Looking for debt collectors? Get in touch now to book a free consultation session. https://www.xservicedebtcollection.com.au/contact-us

10.01.2022 Important Update for Insolvency Reforms Starting from 1/1/2021, eligible businesses experiencing financial distress can access a new and simplified debt restructuring process. It could allow the businesses to restructure their existing debts while remaining in control of their business. Highlighted Points:... 1. The new restructuring process commences when a Restructuring Professional (RP) is appointed. 2. When commenced, creditors cannot enforce against the company or guarantor. 3. There is no requirement for meetings of creditors, but creditors do have rights to request information. 4. Creditors will receive a proposal within 20 business days after the appointment of an RP. 5. Within 15 business days, creditors will need to make decision either accept or reject the proposal. 6. Within 5 business days of advising the RP of the correct debt value or submitting a new debt, creditors must notify acceptance, rejection or significant variations. 7. The proposal will be accepted if >50% of creditors approve (by value). 8. Once accepted, all unsecured creditors will be bound by the proposal. If companies are unable to appoint an RP and access the Debt Restructuring Process between 01/01/2021 and 31/03/2021 (eg due to the short time frame for RP’s to be registered and trained), eligible companies can declare its intention to access the debt restructuring process. Let us know if there is any concern for the above, either you or any of your client suspecting financial distress. We will work together and do the best to protect your receivables and enhance your cash flow! Further details for the new insolvency reforms can be found via https://www.ato.gov.au//New-insolvency-reforms-to-support/

10.01.2022 JobKeeper Is Ending JobKeeper payment which started March 2020 to support businesses that significantly affected by COVID-19 will end on 28 March 2021. Eligible businesses still have time to enrol, with the March monthly business declarations due by 14/04/2021. ATO advised businesses do not need to do anything different when the program closes. Entrepreneurs expecting many businesses that continuing be adversely impacted by COVID-19 will under renewed liquidity and employment... pressure, particularly for tourism, travel, wholesale and retail industries. Businesses experiencing cashflow issues, or have clients that are struggling to survive, may need to look at the business more broadly. Collect all the cash that can be collected, set up a procedure to mitigate risks, speak with your business advisor or even insolvency advisor if needed. Let us know if you need help from a professional debt collection agency, and we are always here to help. Jobkeeper information can be found via https://www.ato.gov.au///jobkeeper-extension-announcement/