Have you written off any bad debt in the last few years?

A great way to CreditorWatch customers have long used defaults as a great way to recover debts and warn others about bad debtors. If you have older debts (in the last 5 years) that you have written off  you can register a default against those entities to give yourself one final chance of collecting the debt in the future. 

The default is added to the debtor's credit file and will affect their ability to get credit elsewhere. Other suppliers will knock them back for accounts in the future or close their existing accounts, leaving them with little choice but to settle the outstanding debt with you.

It only takes a minute or so and could result in an unexpected payment down the track which will go straight to the bottom line. What have you got to lose?

CLIENT SUCCESS STORY: Earlier this year a construction company that uses CreditorWatch uploaded defaults against their bad debt write-offs from the previous three years. Last week they were contacted by one of the debtors who settled a debt in order to clear their credit file. The amount exceeded $50,000!This prompted them to contact CreditorWatch to share the news. 

If you need help uploading a default, want us to do a bulk upload for you or have any questions about the process please CONTACT US