Professional Recovery Services Australia & New Zealand
Professional Recovery Services Australia & New Zealand
Professional Recovery Services (PRS) stands at the forefront of debt recovery and financial management in Australia, with a presence in Brisbane, Melbourne, and Sydney. Our extensive range of services is designed to support businesses in maintaining financial stability and achieving growth through effective debt management strategies. Below, we detail the comprehensive suite of services offered by PRS.
At PRS, our debt collection services are built on a foundation of ethics and integrity, ensuring compliance with all legislative requirements. We understand the importance of maintaining positive relationships between our clients and their debtors. Our approach not only focuses on recovering debts but also on re-educating debtors to ensure timely payments while safeguarding your reputation in the marketplace.
Our collection methods include letters, phone calls, and face-to-face interactions, supported by access to numerous databases for debtor location and asset searches. We operate on a performance-based commission model, meaning we only earn when your debts are successfully collected. In cases where debtors are difficult to locate, we offer skip tracing services through private investigators, ensuring every effort is made to recover outstanding amounts.
Our credit management services specialise in Business-to-Business (B2B) debt collection, where we implement best practices tailored to your industry. We conduct thorough assessments to understand how bad debts arise and work with you to develop internal policies that prevent future occurrences. By educating your customers about trading terms and implementing strategic changes, we help reduce the percentage of overdue accounts.
The Building Industry Fairness (Security of Payment) Act 2017 offers protection for those in the construction sector. PRS assists businesses in navigating this legislation to ensure they can enforce their rights promptly. Our expertise in this area ensures that you can act swiftly to secure payments owed under this specific legal framework.
Our credit consultancy services aim to empower businesses with the tools needed for effective credit management. We provide a tailored approach that includes an assessment of current practices, development of customised strategies, and ongoing support through implementation. Our goal is to enhance your cash flow and financial stability by reducing overdue accounts and preventing bad debts.
Effective management of accounts receivable is crucial for maintaining healthy cash flow. PRS offers comprehensive solutions that integrate seamlessly with your existing systems. Our services include invoicing, payment tracking, cash flow management, and customer communications. By outsourcing these tasks to PRS, you can focus on core business activities while ensuring financial stability through timely collections.
We provide expert advice on managing debts effectively, offering insights into best practices for debt prevention and recovery. Our team works closely with you to develop strategies that align with your business goals, ensuring long-term financial health.
A deed of settlement can be an effective tool for resolving disputes over outstanding debts. PRS guides businesses through this process, ensuring that settlements are reached amicably and efficiently. This approach not only resolves current issues but also helps maintain positive relationships with clients.
For businesses facing significant unpaid debts, statutory demands and wind-up notices can be powerful tools for recovery. PRS provides guidance on issuing these notices correctly and strategically to maximise recovery chances while adhering to legal requirements.
Our letter of demand services are designed to prompt swift payment from debtors without escalating matters legally. These letters clearly outline the outstanding amounts and consequences of non-payment, serving as an effective first step in the recovery process.
When legal action becomes necessary, PRS offers comprehensive support in issuing and serving legal proceedings. Our team ensures that all legal procedures are followed meticulously to maximise recovery potential while maintaining professionalism throughout the process.
At Professional Recovery Services, we are committed to delivering cost-effective, efficient, and results-driven solutions tailored to meet the unique needs of businesses across Australia. Whether you require assistance with debt collection or need strategic guidance on credit management, our team is ready to support you in achieving financial success. Contact us today to learn more about how our services can benefit your business.
Professional Recovery Services have decades of industry experience in recovering debts on behalf of people just like you. We take the time to understand your business and provide you with practical solutions to recover your debt and to prevent debt in future.
Our business model has many variations, however our letter, phone call and face to face collections ensure that your account is given the best service possible. PRS pay and subscribe to numerous databases to locate debtors and conduct asset searches.
PRS earns an income on a performance base commission, meaning PRS only earns commission if your debts are paid. Our motivator in collecting your outstanding money is commission, and there is only one way we can make commission. There are no joining fees, administration fees or charges for the letters we send out.
Should we be unable to locate a debtor, we quote to you what it will cost to engage a private investigator to conduct “skip tracing”. These costs are generally non-recoverable, however if your credit application / terms and conditions has allowances for this, we can add these fees onto the debt.
Should PRS be unsuccessful in the collection of your account, we discuss further options with you. These options may include commencing legal action against a debtor. An assessment must be conducted on the account to ensure that the debtor has the ability to pay, and that it is commercially viable for you to commence legally against a debtor. We may advise that you offer a settlement or payment arrangement should there be a valid dispute.
There may be other occasions where you will be quoted costs to increase your chance of collecting a debt. You are under no obligation to spend any money if you do not want to, however all options are provided to you. Legal action will be quoted to you if it is a viable option as there are costs involved. A majority of these initial costs are recoverable through the courts.
To commence the collection process with our firm, we need to understand your exact collection requirements. Our rates are negotiable and they depend purely on the age, size, nature and volume of your outstanding accounts. If you believe your matter is self explanatory and you wish to commence immediately, please proceed to our homepage and submit your debt online.
Alternatively, you need to complete an Appointment of a Commercial Agent form as well as our Terms and Conditions. Please contact our office to discuss your matter and we will send you the engagement forms. Once we receive these documents back with a copy of the outstanding invoices/s for collection and any supporting documentation such as contracts, credit application, purchase orders, we will commence actioning your accounts within a few hours.
We provide a cost-effective, efficient and results-driven service. Contact PRS today to recover your outstanding debts.