021 533 825 info@mfl.co.nz

Our Credit Control Process

When your invoices are not paid on time, it may be time to hire a commercial collection agency like MFL Services. We are experts in business to business as well as consumer debt collection.

Credit management solutions 

Unfortunately, when you’re in business there will always be a percentage of your customers who will default on payment of their invoices. Businesses lose valuable time chasing overdue invoices; a task probably better suited to a specialised business partner like MFL Services.

It’s important to act as fast as possible when it comes to debt recovery. It is a well-known fact that chances to collect your overdues will gradually dilute with the aging of the debt.

Not just any debt collection agency

If your demands for payment have been unsuccessful, a third-party collection agency could be the answer. But not just any debt collector. You need proven credit management and debt recovery solutions from a well-established business partner whose agents will be fair, respectful, honest, and compliant with all New Zealand statutory requirements.

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What can your business do about bad debt? 

Is your maximum cash flow at minimum risk? We’ve put together a few questions to ponder. 

  • Do you have many invoices more than 60 days past their due date?
  • How much stress do your accounts people go through with invoices?
  • Do you have a robust credit control process in place?
  • Do you have a written credit control policy?
  • Do you use credit checking on clients?
  • Does your business have terms of trade that are easily accessible to your customers?
  • Do you think you could benefit from expert credit management solutions: help with credit control and debt collection?

If you need advice, help with debt recovery or credit control processes, we can work to get the money owed to you. Just contact us for your free, no-obligation discussion.

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Worth every cent

No business can afford to ignore its cash flow. Monitoring this is like monitoring your pulse; it’s a crucial health check for your business. Indeed, more than a third of SMEs cite issues with cash flow as a barrier to growth. Strong cash flow, a key indicator of financial health, is achievable with specific emphasis on robust credit control and debt recovery strategies.

We’re firm advocates for giving customers reasonable time to settle their debts, but if you leave chasing up a debt too long, you’ll waste a disproportionate amount of time and money on trying to collect what’s due. Studies indicate that on average, an invoice that is 90 days overdue only has about a 50 per cent chance of being collected in full. Wait a year and the recovery rate could further fall to as little as 15 per cent.

Third party debt collection agencies, like MFL Services, are experts at negotiating with late payers. And we’re also very good at detecting when customers are acting in bad faith, thanks to having made thousands of collection calls. So, if it’s needed, ask us about starting an early credit control or debt collection process to get an immediate improvement in your business cashflow.

Seamless credit management and debt recovery service

MFL Services will provide you with seamless credit management and debt recovery solutions on a fixed fee basis. We understand the importance of reporting and can provide a range of standard and reporting templates. 

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Experts at debt recovery

We can also tailor our credit management and debt recovery solutions to meet your individual or company’s requirements. For an obligation-free chat to see how we can help your business, call us today.