What to Do About Overdue Payments
Updated: Feb 16
Does a client or a service provider owe you money? Has the due date for payment already passed, and still you haven’t received the funds? Have you asked them politely and sought to recover your debt, only to be met with excuses or silence?
It can be highly frustrating when you are owed money. Fortunately, there are a number of solutions available to you to recover your debt. While entering the legal sphere, particularly for the first time, can be an unusual and unsettling experience, with the guidance of the correct debt recovery lawyer it’s likely you will be able to secure a positive outcome.
Read on for a brief guide on debt recovery services.
How can a lawyer recover the money I am owed?
The debt recovery services include the following:
They can provide advice on the procedural options to recover your debt, and we can carry out these debt recovery procedures with your endorsement.
They can advise on appropriate frequency, hours, and location of contact, and be this point of contact for you.
They can undertake negotiations if necessary and represent you in court if your case has to go that far.
They can advise and represent you when a debtor claims bankruptcy.
Within the court system, our debt recovery lawyers can commence enforcement actions for the payment of debt.
What are enforcement actions for the payment of debt?
Enforcement actions refer to a range of measures your lawyer can take to recover your debt, by securing a judgment debt within the court system. A judgment debt is a court order that requires the party that owes money to pay it. Enforcement actions in the process of debt recovery may include:
Garnishee Orders: court orders allowing you to recover judgment debt from the debtor’s bank account or wages.
Writ of execution/the levy of property: a court order allowing the authority to take and sell the judgment debtor’s property, often at auction, to raise the funds to meet their debt.
Writ of delivery of goods: a court allowing the authority to seize goods and return them to you (for example, if you were never paid for these goods).
Winding up of a company. If an insolvent company is not wound up, you as a creditor (via your debt recovery lawyer) may be able to apply to the court to wind up the company and force its liquidation.
For more information on your debt recovery options, consumer law, contract law, and other legal services, contact Arida Lawyers on 1300 146 390 or info@aridalawyers.com.
This article provides general information relevant to our expert services. It is not legal advice and should not be relied upon as such. If you are seeking legal advice, you should contact us for a free initial consultation. Liability limited by a scheme approved under Professional Standards Legislation.