TASCollect Ezine

Working in the local economy means TCS is always abreast of local economic challenges and the issues impacting Tasmanian business.

We understand the challenges you and your business face, which is why we aim to provide articles to share our knowledge with you and assist you and your business to make the best credit related decisions and lessen the risk of incurring bad debt where possible.

We provide our clients with our quarterly TASCollect ezine, which features articles to assist you in with your credit management practices.  We have provided a selection of these articles below.

Hobart lawyer supports UNICEF #Unstoppable Girls

2021-06-25T12:33:23+10:00June 29th, 2021|TASCollect|

Mark Rapley with TCS’s Jenny Sparks and Sharon Barker.

TCS has many valued business partnerships and high on the list is Butler McIntyre & Butler, a well-established Hobart legal firm who handle the legal work for TCS clients.

Mark Rapley, lawyer, has worked with TCS for over 18 years.

A cause close to Mark’s heart is UNICEF’s project #Unstoppable Girls. Education is every child’s right, yet worldwide, 132 million girls are out of school. This is particularly prevalent in third […]

Bankruptcy Statistics March Quarter 2021

2021-06-29T23:56:57+10:00June 29th, 2021|Industry Data, TASCollect|

January – March 2021

2545 new personal insolvencies in the March quarter 2021, these were down 52.9% compared to March quarter 2020. These were comprised of:

  • 1712 bankruptcies, down 47.3%
  • 816 debt agreements, down 61.4%
  • 17 personal insolvency agreements, down 55.3%

97% of bankruptcies were by debtor’s petition (voluntary). The remaining bankruptcies were by sequestration order (involuntary).

30.8% of bankruptcies were business related, down from 37.3% in the March quarter 2020.

The number of personal insolvencies rose 5.8% compared to the December quarter 2020.

State and territory levels

Personal insolvency fell 52.9% compared to the […]

A few minutes with our Team Member Kathy Waddington

2021-06-25T12:34:41+10:00June 29th, 2021|TASCollect|

Position at TCS

Senior Account Manager

Years with TCS

44 years

What does a day at TCS look like for you?

The first thing I do is review my payment made report so that I know which accounts have been paid (that’s the reason I am here after all) and I call my clients to deliver any good news. Next, I like to review any of the new matters that have been referred so that I can action those asap […]

A few minutes with our Team Member Sharon Barker

2021-03-31T13:16:31+10:00March 31st, 2021|TASCollect|

Position at TCS

Training Officer, Legal Department Supervisor, Compliance Auditor, Account Manager and Collection Officer. I have been fortunate to wear a lot of different hats during my time at TCS.

Years with TCS

35+ years

What does a day at TCS look like for you?

My day always starts with a Coffee! A typical day for me includes talking with potential new Clients who are contemplating referring debts to Tasmanian Collection Service finding out  about their business and finding […]

Debt Collection in practice – Attachment to earnings

2021-03-31T13:38:20+10:00March 31st, 2021|TASCollect|

One of the most successful enforcement actions used in Tasmanian debt recovery is a Garnishee Order, issued out of the Magistrates court of Tasmania.

A Garnishee Order is an attachment on a non-government employee’s earnings. The employer is required to deduct an amount equal to 20% of earnings after superannuation, Taxation, and any other Garnishee orders already in place. These deductions take place every pay period until the debt, plus the court costs paid by the Judgment Creditor incurred in the process of issuing the Garnishee order, are satisfied.

The Garnishee […]

Bankruptcy Statistics September Quarter 2020

2020-12-08T10:53:56+10:00December 10th, 2020|TASCollect|

July – September 2020

2946 new personal insolvencies across Australia in the September quarter 2020. These were comprised of:

  • 1676 bankruptcies, down by 54.6% on the September quarter 2019.
  • 1247 debt agreements
  • 23 personal insolvency agreements

Bankruptcies in the September quarter 2020 were at their lowest level since AFSA’s current records began in the September quarter 1986. There were falls in all states and territories.
Personal insolvencies in Australia were down 50.9% compared to September quarter 2019. Tasmanian Personal insolvencies were down 61.9%.

26.3% of Bankrupts entered a business related personal Insolvency.

State […]

When do we close a collection file?

2020-10-06T09:18:15+10:00October 6th, 2020|TASCollect|

At Tasmanian Collection Service we don’t close your file unless it’s paid in full, you ask us to close it or it becomes ‘Statute Barred’.

When a debt is referred to TCS we work hard to recover it in the best way that we can until all efforts are exhausted. We then ‘defer’ the file pending any future information.

Because TCS acts for a high proportion of businesses and property owners in Tasmania, in 85% of cases, when you refer a debt for recovery, we will already have information about the […]

How does the Statute of Limitations apply to debt collection in Tasmania?

2020-10-06T09:21:07+10:00October 6th, 2020|TASCollect|

The Statute of limitations is the law setting out the maximum period of time that a debt can legally be pursued for payment. Once this period expires the debt becomes “Statute Barred” and it is impossible to take legal action to recover it. These time periods vary between Australian states and territories so understanding the jurisdiction a debt was incurred in is very important.

For simple contracts in Tasmania a debt may be pursued within a period of 6 years and the time frame for when the limitation period commences […]

Poor business processes will let you down

2020-10-06T09:17:30+10:00October 6th, 2020|TASCollect|

Poor accounts receivable practices such as extending credit to unqualified customers, not collecting the correct customer information, not invoicing regularly, failing to follow up on overdue invoices or not following through when questions are raised by customers can all contribute to the erosion of an organisation’s major asset. Its debtors ledger.

You may be a business that has been adversely affected during the current pandemic or you may be a business that has thrived. Either way, ensuring you have the right processes […]

Light in the Dark – Navigating Volatile Times

2020-06-29T14:03:36+10:00June 30th, 2020|TASCollect|

The following article has been prepared by Will McShane, currently the Chief Operating Officer for Kriticos Nominees, a locally owned family company which owns a number of uniquely Tasmanian businesses in the Tourism, Hospitality and Financial Services sectors (including Tasmanian Collection Service).

Will spent a decade operating the Treasury of the locally operated MyState Bank (and ASX listed MyState Limited) and experienced one of the most volatile times for the finance sector, the Global Financial Crisis. For many of us, this is the first time we have experienced such a […]

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