What type of businesses use DebtCo?

Virtually any business that sends out an invoice or extends credit can use DebtCo’s debt recovery services, from self employed businesses to major corporations,  we have experience in industries such as building and construction, strata management, accountants, wholesale suppliers, equipment hire, medical, veterinary, solicitors, automotive, engineering, finance, banking, childcare and clubs.

Is there a minimum value debt that Debtco will collect?

Yes the minimum debt amount is $50

How many debts can I submit for collection?

Unlimited, If you have a large volume of debts to lodge, DebtCo can offer a bulk lodgement system, contact our customer service team for further details.

How long does the debt recovery process take?

What we know from years of experience is each individual debt has its own set of circumstances so it is to hard to advise a timeframe in general, rest assured DebtCo only gets paid when you do so we have systems and techniques in place to recover all debts as quickly as possible.

Do I have to pay debt recovery commission if the debtor pays the account to me?

Once the debt is received and lodged by DebtCo, any monies paid directly or indirectly is subject to commission charges, debtors sometimes bypass DebtCo to avoid further action.

How long Before DebtCo remits funds collected?

Another reason to use DebtCo, we remit all funds within 48 hours (2 business days) once the money is cleared into our holding account.

Will I be able to recover any collection costs from debtors?

This all depends on what your current Terms and Conditions stipulate. Your customers need to be aware and agree that you may charge late payment fees, interest, legal and recovery costs as defined within the Terms of Trade for any accounts not paid within the agreed credit terms. Our legal team can review your current Terms and Conditions and make recommendations to ensure all your costs can be covered moving forward.

Where does DebtCo operate?

DebtCo services covers all of Australia

Does DebtCo offer support?

DebtCo prides itself on outstanding customer service, our clients have access to our unique instant messenger service with a real life collections agent, email and phone support around the clock.

Is Debtco licenced to perform debt collection?

DebtCo is ACCC compliant and owned and operated by Francom Legal, therefore holding all the necessary debt collection licences.

What if legal action is required?

If the debtor continues to ignore our requests, the debt can be passed onto our legal team with your approval, if this is the case, one of our collection experts will be in touch to discuss next steps and clearly outline the process and if any further costs may occur.