Debt recovery may seem like a daunting task for some – how do you recover owed debts? What if they refuse to pay? How can I secure payment for an outstanding amount? Well, there are a number of things a person or business needs to know before beginning the process of recovering an owed debt.

A claim for a sum under $10,000.00 will be lodged with the Small Claims Division of the Local Court, whereas an amount over $10,000.00 is lodged in the General Division. Before any legal action can be taken in recovering a debt, a Letter of Demand needs to be sent to the debtor. What is a Letter of Demand, you ask?

A Letter of Demand (or LOD) is a letter which advises the person or company of the amount outstanding and that the money is still owed. A Letter of Demand should include how much is owed and attach the outstanding tax invoice or at least a description of why the funds are owed, how payment is to be made and a deadline for payment.  It may contain notice to the debtor that this is the final step before you instigate legal proceedings.

Now there can be two outcomes to issuing an LOD; the debtor will realise that they owe you money and pay it back within due course; or it will be ignored. In the latter case, this is where the legal system can assist you.  

Brand Awareness

Brand awareness is a crucial part to anyone’s business; a person’s ability to enter a store and purchase an item or engage an employee’s service is primarily based on their brand knowledge.

This goes hand-in-hand with good customer service and facilitating a positive experience for any person that engages with your business. People like to engage with companies they can trust and/or identify with.

Brand awareness is the process of creating your business’s image and reputation which people will be able to identify and remember in the course of making a decision as to whether to engage your services or products. It is the foundation of any business as it brings in customers and encourages them to return in the future. It’s pretty simple – if a person has a positive experience with a brand, they’re more likely to use the brand again.