Are you owed money that you would like to collect?
If so, you can take legal action to recover it with GKN Law Firm’s dedicated debt recovery solicitors.
We can assist you with:
- Drafting and serving a letter of demand
- Preparing a Statement of Claim; and
- Entering Judgment against the debtor (when no action is taken within 28 days).
The Process of Recovering a Debt
- A letter of demand is sent to the debtor – this debt collection letter needs to be legally admissible and must therefore include specific details of the debt, a request that payment be made by a certain date, and a warning that debt recovery options will be pursued if payment is not received by this date.
- Suing for the debt – Court proceedings commence with the filing of a Statement of Claim. The Court handling the matter will depend on the amount of the debt and the forms required vary so it’s important to seek legal advice at this stage.
- The way that the debtor responds to the Statement of Claim determines the next steps. They may agree to an instalment order or they may not respond at all, in which case a Court Judgment will be obtained.
The Court has a range of options available to proceed with the collection of your money. These include:
- Seizing property, where the debtors goods are seized and sold at auction
- Selling Real Estate
- Summons, where the debtor has to attend a public Court examination to explain their assets and liabilities
- Garnishee Order, where a percentage of their wages are given to you
- Bankruptcy/winding up proceedings
How we can help
We have highly experienced solicitors who are completely at home with the legal processes involved in New South Wales debt recovery services. We can help you at any stage of this process of recovering a debt, whether it is helping you write an effective and legally sound letter of demand, or pursuing the matter through the Court system.
Never letting it happen again
One way to protect against bad debt is to review your contracts, trade agreements and terms of trade. We can help you make sure that your terms are clear and your processes solid so you can avoid lengthy and costly litigation proceedings in the future.
Contact us to discuss the specific details of your debt with one of our experienced debt recovery solicitors.
I recently purchased a property, and engaged Grace as my solicitor. My wife and I were very happy with the services provided, and our settlement took place a week earlier. We would definitely recommend GKN Law Firm to our family and friends.
– H. Singh