Debt Recovery: If you owe money

Falling behind on financial commitments is overwhelming, more so when a creditor is aggressively pursuing you. In our experience, proactively dealing with debtors can often lead to a prompt and stress-free resolution.

We have a considerable amount of experience in assisting clients in relation to debts owed to the Australian Taxation Office, major financial institutions and SME and trade creditors. Our team of seasoned litigation and debt recovery lawyers are always available to advise and assist clients with debt disputes and negotiations.

If you have received a letter of demand, Complaint, Writ or Statutory Demand

The most important aspect of dealing with creditors and demands is early intervention. If you have received a demand it is important to immediately obtain legal advice. It is extremely important to promptly obtain advice if you have received legal documents relating to a debt.

Documents such as a Creditor’s Statutory Demands, Magistrates’ Court Complaint and Writs and Statements of Claim from the County or Supreme Courts of Victoria have strict procedural deadlines which must be adhered to. A failure to adhere to these deadlines can often result in a creditor obtaining default judgment and proceeding to forcibly enforce judgment against you. A default judgment impacts your creditworthiness, adds additional stress and expense in resolving a debt dispute.

How Can We Assist?

Our lawyers have considerable experience in acting for debtors and creditors alike. Our unique position enables us to promptly assess your individual circumstances, provide you with accurate and relevant advice and to implement a solution.

As a starting point, we take the time to fully understand your position, we review any demand and/or documents and obtain your further instructions to determine the following:

1. We check the technical aspects of the claim first.

In some circumstances the debt claimed by the creditor may be incorrect. The creditor may be seeking to recover amounts they have no entitlement to. There may be technical aspects to the claim that they have not adhered to such as commencing proceedings in the wrong jurisdiction. We can promptly dissect the claim made against you and provide accurate and timely advice and assistance in dealing with the alleged debt and your creditor.

2. Whether you have an off-setting or counter claim.

Sometimes there is more to demand or debt, your creditor may be seeking payment in circumstances where they failed to adhere to the terms of your agreement. They may have provided you with deficient or defective goods. They may not have rendered the services in line with the agreement, applicable standards, or relevant legislation. If this the case, you may be entitled to off-set any loss and damage against the amount claimed.

Negotiation of the Debt

If the claim for the amount owed is legitimate, then our debt recovery lawyers can seek to renegotiate the terms and the amount of the debt. This is often a final step before further debt recovery legal action is taken against you. Proper negotiation of the debt and entering into a payment plan or new terms can prevent you or your business from going under or having a default judgement. This will preserve your credit rating and ability to access finance.

Insolvency and Bankruptcy advice

If you are unable to pay your debts, you may need to consider your options in relation to insolvency or bankruptcy. We are experienced in advising directors and individuals as to the process of insolvency and assisting with protecting them through the process.

The Importance of Legal Assistance

Dealing with creditors is difficult. It is important that you are advised and assisted by lawyers that have considerable experience and a proven track record in debt recovery litigation.

After thoroughly reviewing your claim and obtaining your further instructions our expert lawyers will advise you on how to proceed. They will consider whether the matter is resolvable and what offer of resolution, if any, should be made. Once you have considered our advice and instructed us on how to proceed, we swiftly implement your instructions. We work to ensure that the matter is dealt with efficiently and effectively.

If your matter is one which cannot be resolved by negotiation, we can assist in defending and resisting claims made by a creditor.

To speak to a debt recovery lawyers about your matter contact us on 1300 907 305 or complete an online enquiry form.