Have you, or your credit controller already contacted your debtor about the outstanding invoices? In some cases, simply showing your debtor you’re considering legal action by sending a letter from your lawyer can prompt them to make contact. From there we can organise a repayment schedule on your behalf that works for both parties.
Otherwise, Godfreys Law can advise you on the next steps to take.
Recovering Debt
Taking action early is the best way to ensure you get paid. Becoming a secured creditor at the beginning of your working relationship is one way to make sure you can get back what you’ve invested.
Our debt recovery lawyers can step in when your debtor falters and take action to advance your claims. If necessary, we can also arrange to recover and secure the asset. For example, helping you legally reclaim any unpaid items you might have installed, from your debtor’s property.
Strong Terms of Trade in your business can make the process of taking legal action, and recovering your assets much easier. Contact our debt recovery team for more information on Terms of Trade, or to have your fine print reviewed.
Recovering Debt Through Liquidations
If a Company is simply unable to pay it's debts, it may be liquidated in order to pay creditors.
Godfreys Law can represent your Christchurch business if you want to pursue a Court ordered liquidation. In cases where there are many companies after a debtor for money, secured creditors have first priority in recovery of their unpaid debts.
Proceedings can sometimes be taken against Company directors and guarantorsto make sure all outstanding debts are paid.