Les-Keady-Legal-Logo-Debt-Recovery

Debt Recovery

To have an efficient and effective strategy for recovering debts is fundamental for any individual or business. Our team of lawyers at Les Keady Legal, located south of Sydney, provides a comprehensive debt recovery service for individuals and businesses that are trying to recover their debts.

Debt-Recovery-Lawyers-Sydney

A contract is the most suitable way to ensure that you get any outstanding money back if there is a dispute. If the money is still outstanding you may need to proceed with debt recovery proceedings. There are several and complex methods to recover your debt.

A letter of demand is usually issued, which informs the debtor (person or company owing the money) that there is money outstanding and advising of a date of money to be paid. If this is not effective, we can assist you with legal action.

For minor claims, Statement of Claim is issued by our legal team, lodged with a Court (Local, District or Supreme Court, depending on the size of the debt) and served to the debtor. The debtor than has 28 days to lodge a defence. If the debtor ignores that Statement of Claim, then a default judgement is issued against the debtor by the Court. This means that a Court recognises that the debtor owes you money and will proceed further to recover your debt by addressing debtor’s assets or finances. The Judgement is automatically listed against the debtor’s credit file which shows up on searches of the company in question or an individual regarding outstanding liabilities.

The methods that exist, depending on each individual case, include:

  • Seizing of assets or income
  • Statutory demands for companies, giving 21 days to recover debt and if unsuccessful than the company is regarded as insolvent
  • Bankruptcy for individuals with debts over $2500, giving 21 days to recover debt. If unsuccessful, any assets are sold to pay debt or payments are made to a trustee. Bankruptcy usually lasts 3 years.

At Les Keady Legal, our solicitors can provide you with all aspects of your case from negotiations, drafting letters of demand or Statements of Claim, credit agreements and terms of trade as well as court representation.

Our services include:

  • Providing advice regarding the effectiveness of your business debts recovery process
  • Issuing claims in court
  • Credit agreements
  • Large scale commercial recovery
  • Outstanding debt matters
  • Issuing enforcement proceeding to recover debts such as Statutory demands
  • Negotiating commercial resolutions to debt disputes
Whatever your debt recovery requirements are, you can be assured with Les Keady Legal. We provide services for anyone who needs to recover their debt. This includes: individuals, insurers, companies, liquidators, major corporations and strata managers. We will provide you with legal advice, guidance and updates on your matter. Our legal team, offers a timely service and cost effective results, and we always seek to settle matters out of Court. Our lawyers provide a mobile service and are based at Sans Souci, about 20 km south of Sydney CBD.