Debt Recovery 101
What is the basis of the claim?
- Determine the reason why the debt must be paid
- Review the written contract (or oral terms)
- Tie the facts in with the obligations
Are there issues of solvency?
- Does the debtor have the money?
- Can the debtor enter into a payment plan?
- What assets exist that might satisfy the claim?
Is it worth it pursuing the debtor?
- Consider the strength of your case
- Consider the costs involved in getting to judgement
- Consider the time involved
- Is it a relationship worth damaging?
Making the demand
- Articulate the basis of the claim
- Require payment within a specified period
- Make it clear that legal proceedings will follow if the claim is not satisfied
Reviewing the response
- Are the debtors reasons for not paying valid?
- How can further facts be obtained?
- If your case has reasonable prospects maybe go to court.
* Disclaimer:- This publication contains general information which may not suit your particular needs or circumstances. It may be summarised and include generalisations. Details that may be important in your specific circumstances might not be included. Litigant strives to ensure that the information in this publication is accurate and up-to-date, but does not represent or guarantee that it is accurate, reliable, current, complete or suitable. You should independently evaluate and verify the accuracy, reliability, currency, completeness and suitability of the information, before you rely on it. The information in this publication is not legal or other professional advice. You should obtain independent legal or professional advice that is tailored to your particular circumstances if you have concerns. To the maximum extent permitted by law, Litigant excludes liability for any loss, however caused (including by negligence), relating to or arising directly or indirectly from using or relying on any content in this publication. Litigant asserts copyright over the content of this publication.