Posted on November 02, 2023
Recovering debts or unpaid invoices can often become a stressor in people’s lives. Unpaid debts can impact individuals, businesses, employee’s wages, and the ability to budget for future expenses.
Usually, relationships between the parties break down, and disputes can arise for a number of reasons, including:
- The amount of the debt/invoice owing;
- When the debt/invoice was due;
- If any interest was payable; and
- Whether the debt was a loan or a gift.
At Scanlan Carroll Lawyers we help relieve the stress of debt recovery by providing expert advice and offering a wide range of debt recovery methods to help you have your debt repaid in an efficient and cost-effective manner.
Generally, we can assist where you have a Loan Agreement or Deed of Loan, Invoices, evidence of repayments, acknowledgement in writing of the debt from the other party.
If you do not have any of the above-mentioned documents, depending on your circumstances, you may still be able to recover your debt.
What is a Letter of Demand?
A Letter of Demand is a legal letter that is sent to the other party to put them on notice that they are to repay the debt within a specified time period. The letter may also include a warning that you will commence legal proceedings against them if payment is not received by a particular date. This is a vital step before commencing formal proceedings, and will often achieve the desired outcome without having to incur significant costs.
If the other party fails to respond to your Letter of Demand in a timely manner, then there are various options available to you, including but not limited to:
- Mediation,
- Garnishee orders;
- Warrant of seizure and sale;
- Warrant for possession;
- Winding up a company; and
- Enforcing a bankruptcy order on an individual.
If after numerous requests, a debt is still owed to you, please contact one of our friendly staff members at Scanlan Carroll Lawyers who will be able to assist you with recovery.
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