IOUNZ has a successful debt recovery rate due to our experienced collection team and their professional approach with debtors. You will benefit from our collection methods and find that we provide an unbeaten Debt Recovery service.

Taking action is simple…

All you need to do is:

1 Log in to your IOUNZ online account and click ‘Add Invoice(s) for Debt Recovery’.
2 Enter the overdue account details and leave it with us.

It’s only $5.00 per entry with a 20%+GST commission charged on collected monies.

After 30 days of debt recovery IOUNZ will send a hard-line notice of debt. IOUNZ will notify the debtor that their credit record has been adjusted with Veda Advantage Credit Reporting Bureau. An additional fee is added to the debt for default administration.

IOUNZ offers an option in your online account where you may request legal advice for the recovery of a debt. IOUNZ will collate all correspondence and documentation regarding the debt and supply to our Debt Recovery Solicitor for review. Our solicitor will be in contact with you to discuss your options.

You will be the authority instructing the legal pursuit of the debt:

Individual Debtors
Indicative costs* for recovering monies from individual debtors where there is no obvious defence to the debt:

* Obtaining instructions, sending letter of demand and liaising with debtor
$250.00
* Issuing ordinary court proceedings and judgment by default
$800.00

Company Debtors
Indicative costs* for recovering monies from company debtors:

* Initial telephone contact with debtors and statutory demand
$250.00
* Issuing liquidation proceedings (including advertising), appearing to obtain liquidation order
$1,500.00

Defended Matters & Enforcement
Indicative costs* for recovering monies from company and/or individual debtors:

Summary judgement proceedings, defended hearings, bankruptcy and enforcement proceedings are charged on a time in attendance basis.
Estimates of the cost of these steps can be given in advance of doing the work on a case by case basis.
*Costs exclude GST and disbursements and are effective as at 17 February 2009

Please do not hesitate to contact a member of staff for more details.

NOTE: When our solicitor is successful in the recovery of your debt – you will still have to pay our commission charges. IOUNZ will deduct the legal costs you incurred from our commission.

Example:

Original Debt Amount: $10,000.00
Commission – Legal costs: $ 2,250.00 – $281.25 (Initial telephone contact with debtors and statutory demand)
Commission to be deducted: $ 1,968.75

Payment to Client: $ 8,031.25

Example includes GST