We manage small and large corporations to recover debt in the most cost efficient way for our clients. The firm provides the following debt recovery tools:
- Letters of demand/notices of demand
- undertake search and enquiries to locate debtors
- issue complaints/writs in all jurisdictions
- draft and serve Creditor's Statutory Demands
- arrange service upon debtor
- obtain order against debtor
- wind-up proceedings in all jurisdictions
- instigate a range of recovery procedures, including warrants to seize property and liasing with liquidators.
Debt Recovery Management Plan
Our Debt Management team assists a range of business, from sole traders to large corporations, to recover a variety of debts.
We prepare a debt recovery management plan, tailored to suit each client's needs.
We will tailor a fee structure to suit client needs, however, we offer the following as a guide to our fees.
Stage 1 - First Demand
Fee includes receiving initial instructions, attending debtor by letter, up to 3 telephone attendances upon client and/or debtor, up to 5 e-mail attendances upon client and/or debtor (and seeking further instructions). Fee: $ plus GST plus disbursements recovered from the debtor Or a fee to be paid by client should the debtor fail to pay
Stage 2 - Second Demand
Fee includes advice to client as to future conduct and likelihood of recovering debt, attending the debtor by final demand, up to 2 telephone attendances upon client and/or debtor, up to 4 e-mail attendances upon client and/or debtor and seeking further instructions. Fee: $ (inc GST and Stage 1 fee) plus disbursements recovered from the debtor Or (inc GST and Stage 1 fee) should the debtor fail to pay
Stage 3 - Litigated Matters
Costs and Disbursements for litigated matters in Victorian Courts (Magistrates Court, County Court and Supreme Court) are charged pursuant to the appropriate Scales of Costs for each Court. These costs are recoverable from the debtor should enforcement of orders be successful.
Scale costs are payable by the client should enforcement be unsuccessful. Some examples are listed below.
- A Debtor (who is a sole trader) has failed to pay to a Creditor a $1500.00 debt owed pursuant to a contract for sale of goods. A Magistrates Court Complaint is issued against the Debtor and Debtor fails to defend to claim. We obtain an order for the amount of the debt, plus costs, disbursements and interest. The costs and disbursements in this scenario would be calculated pursuant to Scale B of the Magistrates Court Scale of Costs.
- A Debtor Company has failed to pay to a Creditor an $85,000.00 debt owed under an Insurance Policy. We serve on the Debtor a Creditor's Statutory Demand for Payment and Debt and the Debtor does not comply. We then commence Winding-Up proceedings against the Debtor and subsequently obtain a Winding-Up Order. The Debtor is then forced into liquidation pursuant to the Order. The costs and disbursements in this scenario would be calculated pursuant to the Corporations Short Form Bill in the Supreme Court Scale of Costs.
Stage 4 - Enforcement Fees for enforcement are also charged pursuant the appropriate Scales of Costs.
Depending on the circumstances the fees charged may include drafting and issuing of any necessary warrants, liasing with the Sheriff or a Liquidator, arranging skip traces and supervising payment arrangements.
Please do not hesitate to contact us to arrange an obligation free consultation to discuss the above in more detail with you. We look forward to assisting you with your debt management.