Debt Recovery Plan
Effective Debt Recovery Options in NSW
All businesses are hampered to varying degrees by issues with cash flow and chasing outstanding debts.
It is not unusual that a business needs to consider debt recovery options, beyond letters of demand. In data released by the Australian Financial Security Authority, the highest rates of bankruptcy are found in Western Sydney - Mt Druitt, Penrith, Campbelltown, Liverpool and surrounding suburbs. Local businesses in the western suburbs are also faced with those same clients not paying bills and racking up debts that can be difficult for you to recover without a well planned debt recovery program.
Our team can put together an effective and successful Debt Recovery Plan for your business. In a competitive economic climate, every successful business needs access to lawyers with experience, commercial acumen and a strong legal background.
Preparing for your Debt Recovery Plan.
The more information we have about the debt the easier it will be for us to help you recover it. We'll take the time to discuss with you what your options are for the debt recovery process. There are a vast array of legal options depending on whether the debt is single entity or a corporation.
We will brief you on the laws in NSW & any procedural delays you might encounter. There are time delays associated with some of the possible options available to you on you Debt Recovery Plan.
Keep in mind some actions can only be taken for debts over or under specific amounts. We will give you a strategy based on the cost effectiveness and the timeliness of the options available to you.
Debt Recovery Options
What are the debt recovery options available to you and your business?
- Garnishing bank accounts and wages,
- obtaining a writ to cease property and assets,
- winding up a company or putting a person into bankruptcy are some of the options available to us.
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