During my travels around Wairarapa and Wellington the messages I am receiving from businesses (both large and small) no matter whether they are in Wellington, Lower Hutt, Upper Hutt, Featherstone, Carterton, Greytown or Masterton, are variations of the same theme.  Every business owner want to ensure they are going to be paid by their customers and their customers should not get away with nonpayment.  With Veda advantage, (New Zealand’s leading credit reporting company) releasing figures showing commercial defaults are rapidly increasing, it isn’t surprising that being paid what you are owed is becoming of increasing concern for businesses.

Providing a debt recovery service is just one part of the EC Credit Control story.  More and more business operators understand that, in the changing economic climate, doing business on a hand shake is no longer worthwhile and having robust Terms of Trade in place is vitally important.  Over that last few months I have not only prepared robust Terms of Trade documentation for businesses in Wellington, Hutt City and Wairarapa but also assisted with the implementation of robust credit management systems, to provide shield against slow payers and debtors not paying. After all, there should be consequences if a debtor doesn’t want to pay up.

I often listen to business owners saying to me that one of their major concerns with debtors, is that by the time they become aware that there is a problem, it is too late as the debtor has gone into liquidation. This is a very real problem for many businesses. We have all heard of cases of unfortunate unsecured creditors going to the wall when a large debtor fails. This is why I stress to my clients the importance of utilizing the PPSA (Personal Properties Securities Act), in order to become a ranked secured creditor with customers. Especially when they are likely to owe them significant amounts of money. The good news is that EC Credit Control offers a service for PPSR registrations and our clients can take advantage of our expertise in this important area of New Zealand business.