Prime Collections is a Mercantile Agency providing debt collection, consultancy, private inquiry and commercial agent services throughout Sydney and Australia-wide.

As we are not lawyers and we do not charge like lawyers, we are a results driven specialist debt collection service for contractors and suppliers wishing to make claims and subsequent adjudication applications as prescribed under the Building and Construction Industry Security of Payments Act 1999 “SOPA”.

Prime can show you how to use the Security of Payments Act “SOPA” to force payment due to you, without becoming entangled in the legal system. The adjudication process is designed to avoid the court system and the associated costs of preparing of presenting cases.

Prime Collections fundamental business philosophy is to provide you and your clients with solutions. Prime’s success and growth to date is built on the ability to offer high professional competence; access to the latest technology; prompt service; and a lateral, creative and tenacious approach to problem solving.

Prime Collections always seeks to develop the highest level of professional trust.

Prime’s Winning Debt Recovery Strategy

Within 24 hours of receiving your instructions, unless otherwise instructed by you, we will immediately make contact with the debtor by telephone
and then we issue our letter of demand for payment within seven days.

As we work differently to most other agents, we will make face to face contact with your debtor , if we deem it viable to emphasise the urgency of the situation.

We find this personal touch will often produce positive results, which would otherwise not be obtained in the early stages of collection.

Of course, should you wish us to immediately issue a Statement of Claim these instructions will be efficiently carried out on your behalf.

At the expiry of the 1st letter of demand, we will firstly attempt to contact your debtor again, further demanding payment. We will then issue a second letter of demand. If your debtor neglects and fails to respond to our demand, we will then immediately prepare your file for legal action and undertake the
required searches to ascertain the legal entity of your debtor.

Where no search is required, or no payment negotiated with your debtor, we will immediately prepare and file a Statement of Claim for service with your permission.

In the absence of any response within the statutory 28 days after service of the Statement of Claim, we will then file for Judgment, including any accrued interest, and issue appropriate proceedings to maximise recovery of your debt via the Court system.

Court Action

Statement of Claim – The Statement of Claim is the first step in initiating legal action on your behalf. Once we have served your debtor they will have 28 days to respond.

Judgment – In the absence of any response within the statutory 28 days after service of a Statement of Claim on your debtor, we will then file for judgment, including any accrued interest allowed at the Civil Procedure Act 2005, Section 100(1)(b) and issue the appropriate proceedings to maximise the recovery of your debt via the Court system.

Enforcement Action

Writ – for Levy of Goods or Property. The Sheriff will attend the debtor’s premises and attempt to seize any assets the debtor may own. If the debt is not then satisfied within 14 days the Sheriff can direct to have these goods sold at auction at a later date.

We may also issue a Writ against Title. If the Writ of Execution is unsuccessful this will stop your debtor selling or refinance any property unless they pay you in full.

Examination Statement of Claim – The debtor is ordered to appear before the Court to supply any documents and evidence of there finances and income including assets, shares, property and tax assessments. This enables us to ascertain the best avenue for recovery of your debt.

Garnishee of Wages or Bank Account – A Court Order is served upon the debtors Bank or employer whereby the recipient is ordered by law to deduct payments from the debtors account or salary.

Statutory Demand (Companies Only) – This is also called 509 Notice. It is the first step to winding up a company. It is a formal demand for payment which must be made by your debtor within 21 days otherwise we can proceed to wind up.

Bankruptcy Notice (Individuals Only) – An application is made to the Insolvency and Trustee Services of Australia for the issue of a Bankruptcy Notice. This is the initial step in the Bankruptcy proceedings and is the same as a formal demand for payment on a company.

Statutory Demand – Application to Wind Up (Companies Only) – An application is made to the Supreme Court to have the debtor placed in liquidation and liquidator appointed. The liquidator will take control of the company’s affairs and realize any assets and investigate the company’s transactions.

OR

Creditors Petition – An application is made to the Federal Court to have the debtor declared Bankrupt and their finances placed in the hands of the Trustee. The above is a general outline of our services and steps involved for recovery, we will take a proactive approach and are prepared to meet with you so we may get to know you and your business in order to advise you the best solution for your needs.

Remember that should we be able to add sufficient interest to your claim, this can often recover more than the commission amount charged by our agency. This means your debt will be collected for free. No Commission is payable on collection of Court costs and solicitor professional fees.