Be knowledgeable about your debtor ledger
We have recovered debts for a number of tertiary education centres. In one instance, there were a large number of international students that did not have a permanent residence in Australia. We were tasked with not only locating these debtors but also arranging payment plans and monitoring of payments to ensure payments were received in a timely manner. We achieved the payment monitoring using various methods including automatic deductions from debtor bank account (with their approval), utilising our software capabilities and ensuring reminders with various tasks associated were kept up to date. This account was not only difficult due to English being a 2nd or even 3rd language for many of the students but many of the students continued to undertake additional learning with the college. We were then tasked with ensuring we maintained our records efficiently so we could easily show payments received as well as explanations for an increase in debt value. Our client had Portal Access and could access their debtor’s ledger at any time. By doing this, our client could leave us notes on an individual file. Our client was very happy being able to obtain real time updates on all matters relating to them.