How often can we receive statements?
We currently issue statements on a monthly basis only, though in 2023 this will change to as often as you require.
What is your commission rate?
Commission is only charged on amounts collected and this rate varies depending on the following:
- The number of debts you give us.
- The size of the debts.
- The country or countries the debts need to be collected in.
Please contact us for an individual quote.
Do you collect within the same country or just specialize in international debt collection only?
We collect in all countries and will collect within the same country if local laws allow. We do collect within Australia, Malaysia, Indonesia, Philippines, and Singapore for local clients.
Can we get 24/7 access to our accounts?
Yes. We can organize a login for you to access our system so you can review your accounts at any time day or night.
For how long can a debt be collected?
This is governed by the Statute of Limitations which varies from country to country. Normally it is from two years in some countries to 15 years in others. In many countries it is also determined by the type of debt it is. In some Asian countries it can start at two years, while some Arab countries have 15 years. In some countries like the Philippines, it does not stop you collecting a debt outside the statute of limitations but limits the action you can take. For example, you cannot commence legal action. For Indonesia, the type of debt is important in determining when the Statute of Limitations applies. The important thing is to start collection as soon as possible, older the debt less chance we have to resolve the issue. We will not accept debts older than five years.
What about local laws?
For international debt collection we must follow all laws for the countries the creditor and debtor reside in. So, if the creditor and debtor reside in different countries, this can create a complex situation. Upper Class Collections will always follow the laws of both countries and will make no exceptions. This protects your reputation and your business.
Can we receive individual invoices for specific charges?
Yes.
What other charges do you have?
Charges vary depending on the country and whether the local agent provides services which are included in the commission rate. For example, some countries include field visits while others do not. But generally extra charges are field visits, legal action, credit reports and skip tracing but you will never be charged for anything without first obtaining your written approval.
How often will I receive updates?
We can provide updates weekly, fortnightly, or monthly. You will also receive individual emails from your accounts manager as required.
Proof of Debt?
Proof of debt is especially important, and we will not collect a debt if you cannot prove it is due and owing. This involves providing invoices, statements, copies of any contracts and proof that you provided the service, product or made the payment you want the refund on.
How long does it take to collect a debt?
This can vary wildly from one month to two years. If the creditor and debtor are in the same country the debt becomes a lot simpler and easier to collect. If the creditor and debtor are in different countries, collection becomes more difficult because the debtor knows the creditor’s options become more limited. The debtor has already convinced themselves they have got away with not paying the debt. Therefore, a debt recovery agency must receive the debt as quickly as possible, so constant pressure can remind the debtor that the problem cannot be ignored and must be resolved.
How does international collection work?
Upper Class Collections has people in Australia, Indonesia, Singapore, Malaysia, Vietnam, and Philippines. If the debtor is located in these countries, we will collect it ourselves. Your local Upper Class Collections office remains your contact for the duration of the process and we will manage all communications with the agent for you.