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September 2011

	Using the Legal System to collect debts in the Northern Territory This is the seventh article in a series where we will go through using the Legal System to Collect Debts in all States and Territories. These articles include an easy to follow workflow.  To find out about using the Northern Territory legal system to collect debts, read here. States and Territories previously reviewed; - South Australia - Tasmania - South Australia - Victoria - New South Wales - Queensland To compare specific legal actions between states and territories refer the article below the client satisfaction survey called Legal Action compared across the different States & Territories (Local / Magistrates Court).
	Collections around the World  The South Australian Government looks at ways to reduce unpaid fines that has now exceeded $200 million. In New Zealand, a Hells Angel member charged with unlawful debt collection has been granted bail. The New Zealand Government targets Expats for over $160 million in unpaid student loans. Do you have any debtors in New Zealand? This is an interesting link - Dirty Debtors

August 2011

	More Improvements to Client Online Access - easier navigation of notes   We have been listening to all our clients and receiving feedback on how we can improve our client online access. This months new feature is an improvement in the way you can navigate and view comments within a debt. The number of comments that appear on a screen have been increased, and you can now skip to the first and last pages with the press of a single button. Last months improvements were; 1. The ability for you to download attachments that LCollect saves to file. This includes items such as Statements of Claim, Examination Orders, Writs etc. To find out more about this, please read here. 2. Loading up to 3 Debtors when referring a new debt online. To find out more about this, please read here.
	Using the Legal System to collect debts in the ACT This is the fifth article in a series where we will go through using the Legal System to Collect Debts in all States and Territories. These articles include an easy to follow workflow.  To find out about using the Australian Capital Territory legal system to collect debts, read here. States and Territories previously reviewed; - Tasmania - South Australia - Victoria - New South Wales - Queensland To compare specific legal actions between states and territories refer the article below the client satisfaction survey called Legal Action compared across the different States & Territories (Local / Magistrates Court).
	Collections around the World  In the US, a debtor drives a car through a fence to avoid repossession Again in US, a prisoner sues a credit union over repossession of his truck.

July 2011

	Improved Client Online Access - loading multiple debtors and viewing documents online   We have been listening to all our clients and receiving feedback on how we can improve our client online access. As a result, we have now added 2 new features; 1. The ability for you to download attachments that LCollect saves to file. This includes items such as Statements of Claim, Examination Orders, Writs etc. To find out more about this, please read here. 2. Loading up to 3 Debtors when referring a new debt online. To find out more about this, please read here.
	Using the Legal System to collect debts in Tasmania This is the fifth article in a series where we will go through using the Legal System to Collect Debts in all States and Territories. These articles include an easy to follow workflow.  To find out about using the Tasmanian legal system to collect debts, read here. States and Territories previously reviewed; - South Australia - Victoria - New South Wales - Queensland To compare specific legal actions between states and territories refer the article below the client satisfaction survey called Legal Action compared across the different States & Territories (Local / Magistrates Court).
	Centrelink payments into savings accounts The rules surrounding Centrelink payments and paying back debt. What you are allowed to do and not allowed to do.
	First Online Lodgement of Judgment for Land and Writ for Possession of Land   LCollect in conjunction with Collection Law Partners Pty Ltd are the first to electronically lodge a Judgment Application for Possession of Land and Writ for Possession of Land in the Supreme Court of NSW. This has been achieved using Justicelinks eServices. For our clients, this represents a much more superior and efficient delivery of services in Mortgage Default matters. With the entire process now electronic through the Supreme Court, significant time / speed advantages have been delivered to our clients.
	Collections around the World  An interesting article on how and why the United States has 65 billion US in unpaid fines owing to it...... In Ireland, a debt collection expedition ends badly for a father and son team

June 2011

	Using the Legal System to collect debts in South Australia This is the second article in a series where we will go through using the Legal System to Collect Debts in all States and Territories. These articles include an easy to follow workflow.  To find out about using the South Australian legal system to collect debts, read here . States and Territories previously reviewed; - Victoria - New South Wales - Queensland To compare specific legal actions between states and territories refer the article below the client satisfaction survey called Legal Action compared across the different States & Territories (Local / Magistrates Court) .
	The Financial Ombudsmen vs the Credit Ombudsmen The introduction of the National Credit Code and the obligations to inform debtors of  external dispute resolution has seen a significant spike in the number of claims with the Ombudsmen. We are attempting to compare the Financial Ombudsmen to the Credit Ombudsmen. At the time of writing this article we could not locate the current FOS costings to complete our analysis. If you have a copy of these please share them with us so we can complete our analysis.
	Debt Collection Compliance Links A page containing links to everything you need to know about debt collection. Read more here.
	Collections around the World  A repo man has his hand run over. An underbelly story of debt collection from the UK

May 2011

	Using the Legal System to collect debts in Queensland This is the third article in a series where we will go through using the Legal System to Collect Debts in all States and Territories. These articles include an easy to follow workflow.  To find out about using the Queensland legal system to collect debts, read here. States and Territories previously reviewed; - Victoria - New South Wales To compare specific legal actions between states and territories refer the article below the client satisfaction survey called Legal Action compared across the different States & Territories (Local / Magistrates Court) .
	Personal Property Security Register - PPSR - New Zealand Case Examples An example of PPSR in action in New Zealand which is similar to the Australian legislation commencing shortly. This can be read here.
	Collections around the World  Find out what happens in the US when a repossessed car falls off the back of a tow truck at an inopportune moment. A debtor in New Zealand causes more cost in damages than money was actually owed on his car when threatened with repossession.

April 2011

	NSW Local Court Threshold Increased The NSW Local Court threshold was recently increased. To find out more read here.
	LCollect Instruction Forms  Our client instructions forms can be found here, always available for download. Save this link to ensure you always have the most recent version readily available.
	Using the Legal System to collect debts in New South Wales  This is the second article in a series where we will go through using the Legal System to Collect Debts in all States and Territories. These articles include an easy to follow workflow.  To find out about using the New South Wales legal system to collect debts, read here. States and Territories previously reviewed; - Victoria  To compare specific legal actions between states and territories refer the the article below the client satisfaction survey called Legal Action compared across the different States & Territories (Local / Magistrates Court) .
	Collections Lessons from the NSW Government The new NSW Government recently reported over $1 Billion in unpaid fines. To find out what collections lessons can be learned, read here.
	Collections around the World  Citibank in Indonesia has been banned from outsourcing collections with a death of a debtor under suspicious circumstances. In the US, we see an old scam with a new twist using impersonation to collect fake debts. Portland US, a collection agency holds contests to see which operators can collect the most debtors as friends on Facebook.

March 2011

	Update on Repairable Write-Offs in NSW In July last year we had reported that the NSW Government was banning the registration of repairable write offs to clamp down on car rebirthing (read here). Common sense has prevailed, and a series of exemptions have been made to allow repairable write offs to be repaired & re-registered. To find out more read here.
	Using the Legal System to collect debts in Victoria This is the first article in a series where we will go through using the Legal System to Collect Debts in all States and Territories. These articles will include an easy to follow workflow.  To find out about using the Victorian Legal system to collect debts, read here. To compare specific legal actions between states and territories refer the the articele below the client satisfaction survey called.
	More Don'ts in Debt Collection - US $2.8 million fine for Debt Collection Agency Update yourself on the don'ts of debt collection, this case could just as easily apply in Australian. To find out more, read here.
	Bogus Debt Collection letters in the ACT  Letters of demand are being issued by a fake debt collection agency in Canberra. To find out more, read here.

February 2011

	Trustees re-directing payments before any Bankruptcy application made We have had a couple of instances over the past 3 months where debtors have redirected there payments to the Trustee at the direction of the registered Trustee & advising us they are making a Part IX application. When searching for the bankruptcy, there is no record. We have spoken to ITSA about this & you can found out what is going & the effect of this here.
	The Financial Ombudsman & Judgment accounts - continued.... Can FOS review accounts on an arrangement / Garnishee Order where you have obtained Judgment? We have spoken to ASIC & FOS about this. To find out read here.
	Unpleasant surprise for purchaser of Repossessed Goods The purchaser of repossessed goods in America got a rather unpleasant surprise whilst going over his purchase. To find out more, read here.
	New Zealand Debt Collector in trouble with ASIC  EC Credit Control was forced to issue 236 apologies. To find out some of the "Don'ts" in debt collection, read here.

January 2011

 

	Insurance Certificates of Currency for 2011 You may be asked by your compliance manager, auditor or APRA to provide your suppliers Certificates of Currency (Insurance information). The latest Professional Indemnity and Public Liability certificates of currency for LCollect can be found here.
	The Financial Ombudsman & Judgment accounts Have you received notification from FOS where you already have obtained Judgment against the debtor? What are the Terms of Reference that FOS operates under? To find out read here.
	JusticeLink & eFiling in the Supreme Court for Possession of Land LCollect is the first organisation to file a Statement of Claim for Land through the NSW Attorney Generals Dept new JusticeLink system. What does this mean for our clients? To find out, read here.
	Debt Collection Scam worth $6.7 million in the US A debt collection scam has netted $6.7 million in New York. The case shows the importance of honesty & integrity of employees & what can be done when ethics are ignored. To find out more, read here.

November 2010

	Does Hardship apply to an Investment Property? You have a loan where the debtor has borrowed to buy a house as an investment & that loan is now in arrears. The debtor has been sent default notices & has now submitted a Hardship Application. Does hardship actually apply?? Read here.
	Debt Collection & Centrelink Recipients A common question we are aked at Lcollect is that a debtor is receiving Centrelink payments to an account and I want to transfer some of the funds to the loan. Can I do it ? To find out, read here

October 2010

	Slower actions on Writs Currently the NSW Sherrifs Office has work bans in place. This has resulted in some Sherrifs not actioning writs while others have a large backlog. To find out more, read here.
	Motor vehicle repossessions gone wrong - stories from the industry  Two stories of motor vehicle repossesions going wrong in the US. To find out more read here.

September 2010

	Improvements to LCollect - an Online Forum & loading Multiple Attachments online LCollect have launched a new online Forum to help facilitate questions & discussions in collections. You can participate in the forum here. Our client online access has also been improved with the ability to now load up to 6 attachments online at once. We are continuously looking for new ways to improve your experience with LCollect, and your input is highly valued.
	Updated Client Instruction Forms The Fee for Service instruction form has been updated with the introduction of the National Credit Code. The latest forms can be downloaded here You can still refer all new debts or send updated instructions on existing debts through our Online Access facility. Please contact us to find out more should this be of interest to you
	2009/ 2010 Bankruptcy Statistics-Demographics A review of ages and occupation of debtors applying for bankruptcy . To find out more, read here.
	NSW Local Courts - old bulk lodgement to cease, JusticeLink eServices required  The NSW Local Court is shutting down the old bulk lodgment. If your provider is not on JusticeLinks eServices like LCollect, expect delays..... To find out more read here.

 

August 2010

 

  

	Compliance Update - NCC Exemption for Contingent (commission) collectors Updated amended regulations released by Australian Treasury in July means that contingency  (commission) based collectors do not require a license. Previously the industry had a 12 month exemption from 1 July 2010. Read the full details here.
	2009/ 2010 Bankruptcy Statistics ITSA have released the latest bankruptcy statics on Part IX & Part X Bankruptcies. To find out more, read here.

 July 2010

 

 

 

	Updated Client Instruction Forms The Fee for Service instruction form has been updated with the introduction of the National Credit Code. The latest forms can be downloaded here You can still refer all new debts or send updated instructions on existing debts through our Online Access facility. Please contact us to find out more should this be of interest to you
	Bankruptcy Threshold to be Increased The Bankruptcy Amendment Bill has increased the threshold of Bankruptcy to $5,000, up from $2,000. To find out more, read here.
	Motor Vehicle Repossessions - Repairable Write-Offs can no longer be re-registered / Auctioned in NSW The NSW government is bringing in legislation that will ban the re-registration of all repairable written off vehicles to clamp down on car rebirthing. This will see the value of any repairable written off vehicle car you repossess fall dramatically.  To find out more, read here.
	Photocopiers & Privacy Have you ever thought about how your organisation disposes of its Photocopiers? Nearly all photocopiers contain a Hard Drive, with most digital copiers storing an image of every scan, image & print job. This article has an interesting case study showing how the Privacy Act could be easily breached. Read here.

June 2010

 

	Writs compared across the different States & Territories (Local / Magistrates Court) Are you required to take legal action against debtors who are not in the same state or Territory as you? This is the sixth article in a series that is comparing all the legal stages across the various States and Territories. To find out more about Writs, read here. To find out more about Garnishees, read here. To find out more about Warrants, read here. To find out more about Examinations, read here. To find out more about Judgment, read here. To find out more about the Statement of Claim - read here.
	Important Update - Processing of Legal Documents in NSW - JusticeLink eServices - Electronic Lodgement **** Significant delays expected for providers who do not use efiling **** LCollect is successfully using efiling. With the NSW Court system JusticeLink eServices successfully working, JusticeLink have advised that the old Bulk Filing System will be shut down on the 28th of June 2010. This will present a number of different scenarios & implications for each scenario for everyone who takes legal action in NSW to recover monies owed including; - People who use a provider like LCollect that is using eServices to lodge SLC's, Judgments & Writs - People who do not use a provider that is using eServices to lodge SLC's, Judgments & Writs - Post Judgment Enforcement Action (other than Writ) that is not yet available on eServices - Legacy matters where action was not initiated on the new JusticeLink eServices system. To find out more, read here.
	Facebook Dont's in Debt Collection There's been some recent media coverage about ANZ & the Facebook Dont's. Its a timely reminder, especially after Facebook changed everyones privcay settings so they could be viewed by all (including search engines!) To find out more, read here.

May 2010

 

	Garnishees compared across the different States & Territories (Local / Magistrates Court) Are you required to take legal action against debtors who are not in the same state or Territory as you? This is the fifth article in a series that is comparing all the legal stages across the various States and Territories. To find out more about Garnishees, read here. To find out more about Warrants, read here. To find out more about Examinations, read here. To find out more about Judgment, read here To find out more about the Statement of Claim - read here.
	JusticeLink goes Live The NSW Court system has introduced its new system called "JusticeLink". What does this mean for you? Much faster processing times of legal documents. LCollect has been at the forefront of testing this new system, ensuring we can pass on the associated speed efficiencies to our clients. To find out more, read here.
	The Lighter Side of Debt Collection - Have you ever hired a limousine? So you've hired & paid for a limo for that perfect night out with friends. What could possibly go wrong? To find out more, read here.

April 2010

  

 

	Warrants compared across the different States & Territories (Local / Magistrates Court) Are you required to take legal action against debtors who are not in the same state or Territory as you? This is the fourth article in a series that is comparing all the legal stages across the various States and Territories. To find out more about Warrants, read here. To find out more about Examinations, read here. To find out more about Judgment, read here To find out more about the Statement of Claim - read here.
	Changes to the NSW Courts - Introduction of True Electronic Lodgement The NSW Court system will introduce its new system called "JusticeLink" in early May. What does this mean for you? Much faster processing times of legal documents. LCollect has been at the forefront of testing this new system, ensuring we can pass on the associated speed efficeincies to our clients. To find out more, read here.
	Redirection of Rent for Mortgages In the real property act, there is a provision for the redirection of rent (for situations where the property is being rented out). To find out more, read here.

 

March 2010

	Examinations compared across the different States & Territories (Local / Magistrates Court) Are you required to take legal action against debtors who are not in the same state or Territory as you? This is the third article in a series that is comparing all the legal stages across the various States and Territories. To find out more about Examinations, read here. To find out more about the Statement of Claim - read here. To find out more about Judgment, read here.
	Mistaken Identity - US Private Investigator mistaken for a Turkey & Shot How  can you possibly mistake a person for a turkey?? To find out more, read here.
	Payment Arrangements & Deeds in Debt Collection In this article, we review an interesting Supreme Court case involving a payment arrangement through a Deed and the Deed's enforceability To find out more, read here.

 

 

  

February 2010;

  

	Default Judgment compared across the different States & Territories (Local / Magistrates Court) Are you required to take legal action against debtors who are not in the same state or Territory as you? This is the second article in a series that is comparing all the legal stages across the various States and Territories. To find out more about Judgment, read here. To find out more, about step 1 - Statement of Claim - read here.
	New Zealand Debt Collector Jailed A 10 month prison sentance was handed down for illegal attempts to recover $50,000. To find out more, read here.
	Changes to Western Australia Sheriff The Western Australian Sheriff has outsourced the delivery and execution of court enforcement processes in Southern Western Australia to Baycoprp. To find out more, read here.

 

January 2010;

Statement of Liquidated Claim compared across the different States & Territories (Local / Magistrates Court) Are you required to take legal action against debtors who are not in the same state or Territory as you? This is the first article in a series that will compare all the legal stages across the various States and Territories. To find out more, read here.

Proposed changes to Insolvency Laws The Federal Government has recently proposed changes to the insolvency laws. These proposed changes would allow company directors more legal protection when restructuring a company, moving Australia into line with other countries insolvency laws. To find out more, read here.

Magistrates Court of Victoria Civil Scale Cost Increases as at 1 Jan 2010 The Magistrates Court of Victoria increased the Civil Scale costs. The new scale rates can be found here. These are effective from 01/01/2010.

  

November 2009;

	Early Release of Superannuation The early release of superannuation can be an effective way for a debtor to clear their arrears and get back on track with their mortgage.  In this article we review APRA's and ASIC's requirements for the early release of superannuation.  >> Read more
	APRA Statistics for the Early Release of Superannuation The latest APRA statistics are now available showing a sharp decrease in the number for superannuation releases in 2008/09 >> Read more
	The Lighter Side of Debt Collection - Sheriff's Cars Repossessed The saying "only in America" could not be more correct. How can a law enforcement agency have its "cruisers" repossessed? Very easily it would seem. >> Read more
	Seizure of Real Estate under a Writ in NSW This process has recently been simplified and can be an effective tool for debtors who have the capacity to repay a debt but refuse. >> Read more

October 2009;

Privacy Act Review leads to potential enhanced Credit Reporting Information A recent Federal Government Response to Australian Privacy Law & Practice Reforms has provided a favourable response to proposed enhanced credit information allowing lenders to more accurately assess the Credit History of loan applicants. If these recommendations are passed into Law, it may mean increased responsibility on both the Lending Teams & Collections Teams to report information to a CRA (Credit Reporting Agency) >> Read more

The role of the NSW Sheriff & Collecting Debts..... Do you know what the Sheriff is reponsible for? Do you know how the Sheriff can assist in the collection of your debts? >> Read more

When is a Debt Provisioned? Debt Collection & APRA Provisioning Guidelines The effectiveness of your organisations Debt Collection has a direct impact on the Provisions for Bad Debts your organisation must make. As a collector, have you ever completely understood why you are sometimes put under intense pressure to reduce the arrears, order new valuations and consequently, reducing the required provisioning? >> Read more

September 2009;

Writs & Caveats in Debt Collection - Which one to use & when.... You have found out that your debtor that you've been chasing owns property and you already have obtained Judgment against them. What should you do next to enforce your debt? A Writ or a Caveat? >> Read more

Commercial Bad Debts - Prevention and Collection.... We are experiencing an increasing number of Commercial Debts being referred to us that have minimal prospect of recovery. In this article we give examples of debts with a low chance of success & how to avoid these circumstances to ensure your commercial bad debts can be collected effectively. >> Read more

Case Study - A rare example in WA where the Sherif repossessed a Property.... We recently we are to obtain full payment for a client where the debtor was based in WA & owned property. Those that know WA, know that it is the hardest state to collect your debt in & enforce judgment, often is very expensive with no guaranteed result. >> Read more

LCollect Certified for ISO 9001 (2008) Quality Assurance.... LCollect has gained Quality Assurance certification under ISO 9001 (2008) for the Provision of Debt Collection. This provides our clients with addition reassurance and comfort that we can meet and exceed their expectations and that we have an ongoing commitment to continuous improvement and excellence >> Read more

Loan Stress - one third of Australians are risking loan default..... Its been a year since the credit crunch hit Australia, which sparked a rapid drop in interest rates and government stimulus spending. Recent research is pointing to a significant number of Australians facing mortgage stress & loan defaults in the face of rising interest rates & unemployment >> Read more

Mortgage Repossessions - Rural Land...... Did you know there are special requirements to be followed when repossessing land that is on 10 acres or more and used in Primary Production? Do you know what constitutes Primary Production? >> Read more

August 2009;

 

Hardship (Continued) - Building Societies, Credit Unions and Retail Banks Sign Up to Help Borrowers in Distress  Did you know that all members of the Association of Credit Unions and Building Societies (ABACUS) have signed up to and agreed to the Governments Principles to assist borrowers in distress? Do you know what these principles are and what options are available under these principles to assist borrowers in distress? >> To find out this and more, read the full article here

Court Instalment Orders vs Contractural Obligations - Who Wins? We have had a number of questions on this topic recently with the most commonly asked being; Can the Local Court Registrar accept an Instalment Order from a Debtor where the amount offered is less than the contractural repayment? But the amount accepted by the Court  means the arrears on the loan will continue to growm is there anything I can do? >> To find the answer to these requestions, read the full article here

National Consumer Credit Reform License Requirements ASIC recently released a consultation paper on the Training & Competence Requirements that will be required under the new Nation Consumer Credit Reform. In this article we go through these requirements and look at the impact this will have for you and your Collections Team. >> Read more

 July 2009;

REVS Listings - Putting them on & Keeping them current

We have recently had 2 different examples where the security of a loan has been jeopised and our ability to repossess the security has been limited through REVS listings not being performed in a timely manner. The scenarios were;

* The REVS listing being placed 4 hours after finance was provided
* A REVS listing lapsed before being renewed, in which time the security could have changed hands

Read more >>

 

Hardship

In the current financial climate, we have been receiving a significant increase in the number of questions about Hardship, what to look out for, when it applies and what must be done. In this article we go through the basic steps and some scenarios of what to look out for.

Read more >>