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information memorandum
INFORMATION ABOUT DEBT RECOVERIES AUSTRALIAThanks you for taking the time to read about us. As you know, DRA is a successf...
OUR COMMITMENTOur MissionTo increase your cash flow and profitability by finding debtors and collecting debts.Recovery Pro...
FREE ADD-ON RECOVERY SERVICES                  Free demand and follow up letters                  Free skip-tracing/locati...
ABOUT DRAThe DRA CompanyDebt Recoveries Australia (DRA) commenced business in Australia in 2001. Since then, DRA hasexperi...
DRA SERVICESDebt Collection ServicesDRA’s staff has comprehensive experience in domestic and commercial insurance claims r...
Closed File AuditsClosed File Audits are a specialist service provided by DRA. Through closed file reviews money isrecover...
InvestigationsOur panel of licensed investigators has diverse financial, legal & law enforcement backgrounds. They arelice...
Online Database AccessOur on-line system, QRM (Quality Recovery Management), has been designed specifically to capture all...
OUR VALUED CLIENT LISTBelow is a name list of some of our valued clients:Australian Insurance Corporation                 ...
DEBT PLACINGWhat do I need to do?DRA provides a contract outlining the terms and conditions of trade that needs to be sign...
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Information memorandum about debt recoveries australia

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Information memorandum about debt recoveries australia

  1. 1. information memorandum
  2. 2. INFORMATION ABOUT DEBT RECOVERIES AUSTRALIAThanks you for taking the time to read about us. As you know, DRA is a successful mercantile agency specialisingwithin the insurance industry.We understand that your first priority is your insured customer and the minimization of your claims costs. The benefitswe provide are a reduction in claims costs and increased profitability for you and better utilization of your staff. Byoutsourcing to DRA, this enables your staff to better focus on your insured’s needs, this being the key to your success.We provide friendly yet assertive recovery services with commissions based on the nature and age of debts. All searchfees are included in our commission rate. There are no other fees or charges, making your accounting and invoicingeasier.All of our operators have an insurance claims background, so they can work in well with your staff. We have an on-linecollections system, enabling you to view and up-load files, make comments and instruct us on-line in real-time.Following is further information regarding our services. I would appreciate the opportunity to meet with you to discussyour needs further. Please contact me to arrange a suitable time to meet.Kind Regards,Adam StewartManaging DirectorTelephone: 1300 799 511Email: email@debtrecoveries.com.au
  3. 3. OUR COMMITMENTOur MissionTo increase your cash flow and profitability by finding debtors and collecting debts.Recovery ProcessDebt Recoveries Australia work closely with clients through all aspects of the collection process, frominitial debtor file transfer to recovery completion and payment, the experience of DRA has proven that apersonal, direct approach with both our clients and our debtors is the most effective method of debtrecovery.Advantages of using DRA NO UPFRONT FEES OR ON-GOING CHARGES No collect - no charge policy. Our fee is performance-based RECOVERY EXPERIENCE & KNOWLEDGE All DRA representatives have a mercantile background and extensive experience in credit management and recovery YOUR BRANDING & BRAND EQUITY RESPECTED DRA conduct our recovery processes with your business or company brand representation as priority and paramount during the retrieval process RECEIPT & ACTION WITHIN THE FIRST 24 HOURS DRA guarantee every file is initiated within first 24 hours of receipt CONTINUOUS ACTION ON RECOVERY DRA also guarantee every current file is reviewed and action taken every week
  4. 4. FREE ADD-ON RECOVERY SERVICES Free demand and follow up letters Free skip-tracing/location with debt collection Free legal advice and access to our extensive legal panel in each stateRecovery services provided by DRABelow is a full list of our services: Debt recovery Debt prevention training Field calls Skip tracing Factual investigations Surveillance Credit reporting Personal and business searches Legal advice and access to our legal panel
  5. 5. ABOUT DRAThe DRA CompanyDebt Recoveries Australia (DRA) commenced business in Australia in 2001. Since then, DRA hasexperienced significant growth and now assist many businesses and enterprises that include small tomedium businesses, through to large brand name entities with retrieval and recovery services thatrange from debt recovery, cash flow acceleration, consultation and the collection of overdue tradeaccounts.Vision and GoalsWe are the leading mercantile agency in the insurance industry and a great example of a successfulagency in any industry. We make our clients more profitable by taking care of their outstanding debtsand freeing their time. We deliver exceptional service and go beyond our client’s expectations.DRA strive to be recognised as leaders by becoming your preferred recovery agent. Our success will bebuilt on quality of service and absolute dedication to the needs of our clients. This dedication embracesinnovation, competence, cost efficiency and the skills of our specialist staff.Our primary focus is to achieve a level of performance and growth that exemplifies our mission, visionand goals, motivates our team, and directly improves relationships with our clients. We will strive toremain competitively priced and to achieve a high percentage success rate in recoveries.Industry RespectedDRA conducts business in strict adherence with the Institute of Mercantile Agent’s Code of Ethics, ACCCdebt collection guidelines, the Insurance Code of Practice, Consumer Financial Hardship requirementsand is a fully licensed commercial and mercantile agent. DRA is committed to carrying out its businessactivities in strict adherence with client interests and representation as priority during the retrievalprocess. DRA understand that when we recover outstanding monies on behalf of your brand, we adhereand commit not to damage your brand equity during the retrieval process on your behalf. Therefore,protection of your privacy is also very important to us. You can view our Privacy Policy on our web-site.
  6. 6. DRA SERVICESDebt Collection ServicesDRA’s staff has comprehensive experience in domestic and commercial insurance claims recoveries,providing you with all the resources and expertise necessary for fast, efficient debt collection.Our aim is to maximize recoveries and speed of collections, while being responsive to our client’sindividual needs. A negotiated commission charge will be payable on the dollar amount of debtrecovered. There is no charge if the debt is not collected and no hidden charges. This makes for easierinvoicing and accounting processes.DRA’s collection practices include regular telephone calls and emails, rather than letters. Within 24hours of receiving your account referral, DRA will attempt to make contact with the customer. As thenature of the debt may include field calls or skip tracing, we will take the necessary steps to locate andcontact the customer as each matter dictates.Our “demand” letters are guaranteed to get you results. Letters sent by DRA are often enough to securepayment from your past due accounts quickly, effectively and in full. They can also help avoid moreexpensive contingent collection efforts such as legal action. We will always strive to collect 100% of thedebt. Payment in full is the first priority for our debt recovery specialists.If the customer cannot afford to pay, they must then complete a comprehensive financial questionnairein order for us to ascertain their financial status. It may then be necessary to offer the customer areduced lump sum or arrange a suitable payment plan. In this instance, DRA will liaise with you todiscuss such an offer and will monitor mutually agreed payments until closure.If you desire legal action against a customer, we can refer the file to our in-house legal panel, or one ofour recommended solicitors’ firms for legal representation. We have a panel of solicitors available foreach state of Australia and can also work with your own legal panel, if preferred.
  7. 7. Closed File AuditsClosed File Audits are a specialist service provided by DRA. Through closed file reviews money isrecovered on behalf of a client from insurance claims that have previously been closed.One of the greatest internal expenses experienced by most insurance organizations is claim leakage.Claim leakage can occur for a number of reasons including: Overlooked information Miscoded claims Data Entry Errors Non-economical pursuits Judgments with no recovery Un-locatable third partiesDRA assist many of their clients with initially identifying and reducing claim leakage through conductingperiodic close file audits. Through the combination of DRA’s attention to detail, knowledge of domesticregulations, experience in insurance claims and access to information through multiple databases, DRAis able to review files that have previously been closed, recover lost money and enhancedepartment/organization profit and performance.A member of DRA’s recovery team conducts an on-site visit quarterly, bi-annually or annually, reviewingeach closed file and actioning those files that have a potential for recovery. DRA is responsible for allexpenses involved. We can audit paper files or conduct an audit of your paper-less files on-line. Theclient is then able to monitor the progress of the recovery of each file in real time through DRA’s secureonline system. The client is paid for all successful recoveries minus any commissions payable.Close file audits result in many of DRA’s clients experiencing increased recovery rates while reducingtheir claims costs. As with our live recoveries, DRA works on a commission only basis. There is nocharge to the client until there is a successful recovery, in other words DRA provides a 100% risk free,fulfillment service.Recently DRA has been successful in recovering approximately 30% of claims that were identified asbeing recoverable through closed file reviews.
  8. 8. InvestigationsOur panel of licensed investigators has diverse financial, legal & law enforcement backgrounds. They arelicensed through the Private Agents Registry, which is administered under the Private Agency Act 1966.Our investigators listen to client’s instructions and seek specific factual information that will assist theclients to make sound commercial decisions on how a claim or situation is to proceed or to be settled.DRAs objective is to provide our clients with the facts, whether they are positive or negative, and tofacilitate our clients to make the important decisions.DRAs experienced surveillance operatives use the latest digital video technology to provide factualevidence as to the veracity of insurance claims and/or other matters which require video orphotographic evidence.Many types of investigations are available. The following is a selection of some of the type ofinvestigations we can conduct: Locate third parties, debtors, insured and witnesses Provide detailed financial and credit histories on individuals and companies Prepare and initiate asset and liability statements Prepare and process fully signed Installment Agreements and offers of settlement Investigate and consequently monitor fraudulent claims Investigate motor vehicle thefts Provide full circumstance investigations into accidents Obtain details of Police-related charges Obtain statements and commentary on liability Conduct registration, license and prior conviction searches Workers compensation (factual & surveillance) Public liability
  9. 9. Online Database AccessOur on-line system, QRM (Quality Recovery Management), has been designed specifically to capture allrelevant collections data which includes details relating to each division/cost centre/geographiclocation.DRA utilises an on-line mercantile collections system, giving you access on-line, which enables you toview and up-load files, make comments and instruct our operatives over the internet. This systemensures absolute security of data for each client by the creation of a separate master group.To maximise the availability of relevant data for the user, DRA has designed a customised informationscreen, which captures all relevant collections data which includes details relating to each division/costcentre/geographic location.Our system allows DRA to provide you with reports which are relevant, informative and up to date in acost-effective way. DRA has the ability to produce various reports both standard and customised.
  10. 10. OUR VALUED CLIENT LISTBelow is a name list of some of our valued clients:Australian Insurance Corporation Real InsuranceAustralian International Insurance Seek.comBJS Insurance Brokers Thrifty Car RentalsCalliden Insurance Vehicle Hire InsuranceCar Rental Insurance YOUI InsuranceCityWide FencingClaims Services AustraliaCommInsureDomain CorpGallagher Bassett ServicesHolden Motor SportHollard GroupHyatt’s SolicitorsJUA UnderwritingLumley InsuranceMarshOAMPS For client testimonials please visit our testimonial page on our company website: http://www.debtrecoveries.com.au/testimonials/Proclaim
  11. 11. DEBT PLACINGWhat do I need to do?DRA provides a contract outlining the terms and conditions of trade that needs to be signed by arepresentative from your company. You can lodge debts online at www.debtrecoveries.com.au, underthe ‘Services’ tab. We also provide a simple Debt Referral Form that can be tailored for your business. Allthe details for each debt you refer to us can be provided on this Form and sent to us. DRA providesmonthly reports on the progress of all outstanding debts.How do I get my money back?Once we are successful in recovery, the debtor reimburses DRA for the full amount of the debtoutstanding, which is then banked into our trust account. A monthly direct credit transfer to yournominated bank account will be made payable to your business or company for the balance of theamount recovered, less our commission.How much will it cost?We collect debts on a commission basis. There are no other hidden fees or charges, unless the file isreferred to our legal department and panel, which is at your discretion. We have a “no collect- no fee”policy for debt collection. If DRA is unsuccessful there is no charge to you. The commission rates arenegotiable depending on the size and nature of your outstanding accounts. CALL 1300 799 511 TO HAVE YOUR DEBTS ACTIONED IMMEDIATELY

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