It conveys your determination to take action, forcing the debtor to reply immediately to avoid further Court action. This adds to the seriousness of and strengthens the demand. You may include a DRAFT General Procedure Claim to the Letter of Demand for an additional fixed fee of $495.00. Letter of Demand is a legal demand and serves as final notice for your debtor to make payment within a stipulated time. April 2016 PROMOTION- $ 99 F ixed Fee Letter of Demandįor the month of April 2016, we are pleased to promote our fixed fee letter of demand – $99.00. Please do not wait, ACT NOW! Call us at (08) 9328 7525 for more information. Good lawyers WILL help you save unnecessary costs and effectively resolve your matter. Lawyers understand the court procedure and process.
Appoint a lawyer, exercise your legal rights and get your money back. It compels the debtor to do something.įorget about all the fancy arrangements with debt collectors, your objective is simple – recover your money. For general debts, there is a 6 years limitation period from when the debt is accrued before you lose your legal rights to sue.ģ Reasons to Engage a Lawyer Recover DebtĪ formal letter of demand on a law firm’s letterhead conveys the seriousness of non-payment and gives a real sense of urgency. This is where a formal legal demand from a law firm acting on your behalf may compel the debtor to respond to you. But it has to be done, sooner than later. It is time consuming and not pleasant to chase for payments, and it is very likely the debtor will simply ignore you and avoid you anyway.
In fact, the longer you wait, the harder it is to collect your debt. It is extremely unlikely a debtor (especially those in financial troubles) would volunteer to pay your outstanding accounts. You know you will almost have to write-off the entire overdue account as another bad debt.If you are unsecured, you join the queue with other unsecured creditors and.You cannot bring lawsuits against the person (debtor).If a person is declared bankrupt, his or her financial affairs will go into the hands of the bankruptcy trustee.Ĭonsequences, if you are a creditor, are that: Of which, over 17,000 ended up in bankruptcies. Why You Need Tang Legal to Assist Recovering Your Debt? In 2014-2015, the Australian Financial Security Authority revealed a total of 28,228 personal insolvency activities.
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