COLLECTING JUDGMENTS

Prushka are experts at collecting judgments across Australia.Our service is NO RECOVERY

– NO CHARGE (subject to terms) and the good news is that we

will fully fund legal enforcement such as Garnishee of Wages,

Bankruptcyor Wind-Up

of companies.

For furtherdetails, contact

our ClientServices Team

on 1800 641 617.

The YearLimpedon!T he 2013 calendar

year has been very difficult for

most of our 48,000+ clients across Australia.Competition for business has been intense and with businesses focusing on cost

For more information, call our Prushka Client Services Team now, on Free call 1800 641 617 or email info@prushka.com.au

NOVEMBER/DECEMBER 2013 CASHFLOW 1

The Prushka Fast Debt Recovery Client Newsletter NOVEMBER/DECEMBER 2013

Get your bad-payers to pay collection costs... it will cost you nothing to set this up. See page 3 for details.

There is a clear relationship between the age of a debt and the risk of it becoming a bad debt. People die, get sick, lose their job, get divorced, go broke, businesses go out of business or get wound up.

Cunning debtors know that if you have taken no effective action against them by 90 days, it is unlikely that you are going to do

anything at 120 days and more unlikely still that you will be a threat to them by the time the debt is at 150 days. By that stage, you have lost credibility in their eyes.

All successful businesses have clearly defined terms for payment and will take action if those terms are breached.

Take control, don’t let your accounts go beyond 90 days at the absolute maximum.

cutting, suppliers to other businesses have felt the heat.

However, we see light at the end of the tunnel.

Weaker businesses are disappearing and this will ultimately allow profit margins to improve.

When you are making less profit, cashflow is more crucial than ever because you have less fat in your business to draw on.

This edition of will provide practical, easy to implement tips to help you improve the cashflow of your business. Read it and pass it on to colleagues.

OLD DEBTS ARE DYING DEBTS

For more information, call our Prushka Client Services Team now, on Free call 1800 641 617 or email info@prushka.com.au

2 CASHFLOW NOVEMBER/DECEMBER 2013

If you know where he works, your chances are even greater.

Finding out where your debtor works, prior to advancing credit, is a smart move.

The reason is that as long as he continues in the job, you can ultimately sue and then in all states (except South Australia), you can either attach or garnishee his wages.

This is an order from the court to the employer, forcing them to deduct a fixed amount from the debtor’s pay packet.

Even if the debt is for a fairly small amount, it would still be viable to sue because a cost order is granted on the judgment and then a further cost order is granted on the garnishee order, so your debtor will pay most of the costs.

DOES YOUR DEBTOR WORK?If you know that your debtor has a regular job, either full time or part time, your chances of recovering monies owed by him are good.

If your debtor is a business and the debt is undisputed and remains unpaid, we are able to default list him through Veda Advantage.Our cost for doing this is $75.00 + gst.

The listing remains on the debtor’s credit file for 5 years.

Our results from doing this have been very worthwhile. If the debtor applies for credit later, he will need to pay out your debt To find out more information, contact our Pre-Legal Team on (03) 8875 5905.

DEFAULT LIST YOUR

BAD PAYERS!

MENDELSONS NATIONAL DEBT COLLECTION LAWYERS

Prushka collect debts from as low as $50.00, so never write-off small debts.There is no need to complete an individual Action Form for each debt. Simply complete one Action Form and attach a copy of each invoice or alternatively, a detailed print out providing details of each debt.

Small debtsThere are 12 highly experienced debt collection lawyers plus support staff who work within Mendelsons National Debt Collection Lawyers.Mendelsons are our integrated law firm and handle debt collection work on our behalf (and at our costs).

Larger and/or more complicated files will be handled directly by a lawyer.

You benefit because you won’t get a bill. It is all part of the Prushka NO RECOVERY – NO CHARGE service.

Pursuant to Rule 29 of the Professional Conduct and Practice Rules 2005 (Victoria) Mendelsons Lawyers Pty Ltd ACN 125 099 701 discloses that it is associated with and shares common ownership with Prushka Fast Debt Recovery Pty Ltd ACN 005 962 854.

For more information, call our Prushka Client Services Team now, on Free call 1800 641 617 or email info@prushka.com.au

NOVEMBER/DECEMBER 2013 CASHFLOW 3

If someone were to tell you that you can easily adjust your processes so that your defaulting customers will automatically become liable for payment of interest and your collection costs, would you be interested?If you were told that setting this up is so so simple and that it will cost you nothing, would you be more interested?

Let us show you how easy it all is. We will guide you through the process and it will cost you absolutely nothing.

A major benefit of having this in place is that it allows you to really exert pressure on your bad payers during your internal collection process. They will be advised “if you don’t pay this account by Thursday at 4.00pm, we will refer this account to Prushka and pursuant to our trading terms, you will become liable for all their collection costs”. With this provision in place, your bills will get paid in priority to those who don’t have such a provision.

Call Marcello on (03) 9872 7288 or email mci@prushka.com.au for advice and to inform us when you have amended your terms.

We would love to help you.

Position image only

To order Prushka Stickers, go towww.prushka.com.au/products_and_solutions/prushka_sticker_system.cfm

or call the Prushka Client Services Team on 1800 641 617.

Affix Prushka stickers to your initial invoice, first statement and final statement and watch the money flow in. They work because of the power of the Prushka name.

Rather than reinventing the wheel, go straight to our website and download one of our forms. There are a variety of forms for different types of businesses

and practices. The forms are in Word so that you may easily amend them to suit your business.

When advancing credit to a new customer, get them to fill out a New Customer or Patient Form.

GETTING YOUR BADPAYERS TO PAY INTERESTAND COLLECTION COSTS.

Credit Application formsAccount Application Form

For Supply of Credit From (type in full name and ACN/ABN of your business entity here)...... (“supplier”)

* Please complete one of 1, 2 or 3 of Part A.

PART A - ENTITY

1. SOLE TRADER

Full Name SURNAME

GIVEN NAMES

Business Name

ABN

Address UNIT

STREET NUMBER & NAME

CITY / SUBURB / TOWN

STATE POSTCODE

Contact

STD HOME

STD BUSINESS / WORK

AFTER HOURS / MOBILE NUMBER

EMAIL

Is Home: OWNED? RENTED? Please specify agent’s name: ________________________

Or 2. PARTNERSHIP

Business Name

ABN

Address UNIT

STREET NUMBER & NAME

CITY / SUBURB / TOWN

STATE POSTCODE

PARTNER 1:

Full Name

SURNAME

GIVEN NAME

Residential Address UNIT

STREET NUMBER & NAME

CITY / SUBURB / TOWN

STATE POSTCODE

Is Home: OWNED? RENTED? Please specify agent’s name: ________________________

PARTNER 2: Full Name

SURNAME

GIVEN NAME

Residential Address

UNIT STREET NUMBER & NAME

CITY / SUBURB / TOWN

STATE POSTCODE

Is Home: OWNED? RENTED? Please specify agent’s name: ________________________

PRUSHKA COLLECTION SYSTEM

EF 0261

NOW DUEIF THERE IS A PROBLEM, PLEASE CONTACT US.

OTHERWISE, PLEASE PAY PROMPTLY

PRUSHKA COLLECTION SYSTEM.OVERDUEPAYMENT IN FULL REQUIRED

WITHIN 7 DAYS

PRUSHKA COLLECTION SYSTEM.

GUARANTEED TO SPEEDUP YOUR COLLECTIONS!

COLLECTIONSTICKERS

Free call 1800 641 617 or email info@prushka.com.au

4 CASHFLOW NOVEMBER/DECEMBER 2013

Commission rates from as low as 11%... And that is all you pay.

Offices across Australia.

Simple, effective tips which are guaranteed to improve your Cashflow!ASK WHY THE ACCOUNT HASN’T BEEN PAIDYour first question when calling an overdue customer must be “is there any reason why this account has not been paid?” If there are any problems, you need to resolve them at that stage. If there isn’t a problem, you know that you are really dealing with a customer who is simply refusing to pay.

LEGAL DEMAND LETTERSIf you have a larger debt and don’t want to refer it to Prushka and become liable for commission on recovery, consider sending a Legal Demand Letter.

Call our Client Services Team on 1800 641 617 and they will transfer you directly through to a lawyer from Mendelsons Lawyers, who will discuss the debt with you and then will prepare and send a Legal Demand Letter

directly to your debtor, together with a copy to you.

If the letter results in payment, there is no commission payable by you. The only cost to you is the cost of the letter ($192.50 including GST).

The letters have a proven recovery rate of over 50%.

MAKE IT EASY FOR YOUR CUSTOMER TO PAYReview your invoice and statements. Ensure that the amount payable is clearly specified and that the payment options are clear and easy to follow. If you don’t provide for payment by EFT, then introduce it, because this is now an expectation by customers.

Busy customers will put your bill to one side if they find it confusing or they cannot readily work out how they are to make payment to you.