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Do your investigations (e.g. credit searches, Landgate searches) into the financial ability of the debtor to pay. Be realistic.
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Secure your position, then chase. Review your contract / terms and conditions to ensure you can take security (e.g. caveats, PPSR).
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Speak in specifics. Agree specific dates for payment, and specific amounts. “I’ll make a payment soon” is meaningless.
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Confirm conversations in writing, and in detail. Better still is to require written acknowledgement from the debtor; it makes proving the debt in Court much easier.
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Include payment details (e.g. bank details) in writing, every time. Make it easy for the debtor to pay the debt.
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Do what you say you will do. Follow up immediately if a deadline for payment is missed.
Murfett Legal has a busy and successful debt collection team. We assist clients with:
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security;
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negotiations;
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investigations;
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court action;
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insolvency action; and
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reviewing and amending contracts / terms and conditions (including security clauses, guarantees, interest, and recovery of legal costs clauses).
Contact Jason De Silva for a no-obligation meeting, in person or by telephone.
