Frequently Asked Questions (FAQ’s)
1) What does MCI do?
Answer: We are primarily a debt recovery agency. We recover outstanding debts for businesses & individuals from customers. We also offer other services relating to recovery of outstanding funds. Costs for these services would be discussed.
2) Do you charge a setup fee for new accounts?
Answer: Yes. Our present rate is $40 + GST of 10% setup fee for every new account referred to MCI.
3) What currency do you use?
Answer: ALL amounts quoted are in Australian Dollars (AUD) as are all transactions
4) What is your commission rate?
Answer: Standard Commission rate is calculated on a scale depending on the amount referred to our office.
5) What GST Rate do you charge?
Answer: The Current GST Rate for Australia is 10%. If this is changed by the Government you will be advised of the new rate.
6) How long does it take to get my money?
Answer: Each account is different and depending on the response from the person we are contacting on your behalf, will determine the length of time it will take.
7) Is there a guarantee on recovering the outstanding amount?
Answer: We do not give guarantees, this will as above; be dependent on the response we get from the person we are contacting on your behalf.
8) How do you contact my customers?
Answer: By way of emails, letters and telephone calls.
9) Do you go through the courts?
Answer: MCI will do everything possible before commencing legal action, but if need be, we have a firm of solicitors that we use as required.
10) What amount of debt can I refer to you?
Answer: Minimum amount would be $50. Plus the setup fee.
11) Can your costs be added to the outstanding debt?
Answer: This depends on your terms and conditions with your customer and will be discussed at our first consultation.
12) I’m not local to your location, what are your options of our first consultation?
Answer: We are happy to do our first consultation via Telephone, e-Mail or by Mail.
13) What areas do you cover?
Answer: Whilst we are located in Australia, we cover Worldwide.
14) Where exactly are you located?
Answer: We are located in the Ipswich CBD Queensland, Australia.
15) What are your payment options available to pay you?
Answer: Currently we only accept Cheque and Direct Deposit payments.
16) Can I pay in person?
Answer: Due to the nature of our business, we do not accept cash payments.
17) What is the time limit for chasing someone up for an old debt?
Under ASIC Report 55 “Collecting Statute-Barred Debts September 2005
Answer: In general, if the debt is more than 6 years old you can’t take the debtor to court – unless, within the last 6 years, they have paid some of the debt back, admitted to the debt in writing, or been ordered by the Court to pay the debt.