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Whether you are an individual or a business, having an unpaid debt can be a headache. It also doesn’t help that recovering debts can sometimes appear to be costly and you may not be sure about how the debtor will pay.
Gibbs Wright Lawyers deal with recovery of debt $30,000 and higher.
You can recover up to 100% of our fees by making the debtor pay for your legal costs. Ask us how we can streamline your debt recovery matters.
Debts often arise because of overdue loan payments or unpaid invoices for products or services rendered. Gibbs Wright Lawyers pride themselves on quality, not quantity and as such we generally deal with debts of $30,000 or higher.
Most genuine debt claims are never defended. If you bring an action against a debtor and they do not defend the matter within 28 days of service (and they do not pay you), you can ask the court to award judgement in your favour by default.
Just because a defence is filed with the court does not mean that the defence is valid. In circumstances where the defence is invalid, we will consider whether you can be awarded summary judgement which is a short application to the court which usually does not require your attendance.
Alternatively, we can engage in settlement negotiations or press for a trial.
If the debtor defends the claim, we will discuss with you how to maximise the chance of recovering your legal costs.
If you obtain a judgement from the court you have numerous options including bankruptcy proceedings (individuals), to wind up a company, and enforcement proceedings.
Although each of these options have their pros and cons, often we see the most advantage in enforcement proceedings.
The issue we find with bankruptcy or wind up applications is that the trustee in bankruptcy or liquidator will take a significant portion of the debtor’s assets to pay their fees.
With enforcement proceedings you can usually seize and sell assets or redirect a person’s wages or salary (amongst other things) for a fraction of the cost (much of which is paid by the debtor). Further, you can continue to enforce the judgement on the person (assuming they don’t pay you) for up to 6 years without permission from the court, and that timeframe may be extended in appropriate circumstances.
By default, the court will almost always award some of your legal fees.
Contact us on (07) 3088 6364 to set up an account with us and discuss your debts.
We will ask that you send through any relevant documents (usually an invoice or a contract).
Once we have an account set up for you, lodging debts with us is usually as simple as sending us an email with the unpaid invoice.