COURT MATTERS & DEBT RECOVERY
Debt Recovery
Unfortunately, bad debts can be an inevitable side effect to carrying out business. To recover these debts, action needs to take place in an efficient and streamlined manner. Often, you will be faced with debtors who are familiar with the avenues and tools to delay the debt recovery process, so it’s always best to turn to an expert to help streamline the process and minimise stress and financial hardship for yourself.
There are a number of steps both pre-litigation and during the litigation process that are implemented by CBD Law to bring about the recovery of bad debts.
- The pre-litigation process can involve both letters of demand/process to encourage payment prior to Court proceedings. In appropriate cases, mediation/alternative dispute resolution can be arranged.
- Failing payment, litigation options are available whether they be via Local, District or Supreme Courts or pursuant to the Corporations Act by way of the Winding Up/Liquidation process. Options and costs will be discussed before the necessary action is commenced.
- The litigation process can involve either a straightforward default Judgement (which occurs when the debt is not disputed) or a range of procedural aspects involved with the defended litigation.
- Once a Judgement is obtained, various recovery avenues are available, including:
- The enforcement processes available by the Courts. These include a Writ of Execution of Chattels or Land, Garnishee Orders over Bank Accounts, Wages or others, or Examination Summons.
- Bankruptcy
- Company Winding Up
Each of the available options can be discussed to consider the expense and effectiveness involved. Speak to one of our lawyers today to learn more.
Court Appearances
CBD Law can appear on your behalf in any of the Courts on the Central Coast, in Sydney or in the Newcastle regions.
Speak to one of our lawyers for more information on the best course of action for you, and the costs involved.
