Debt Collection Articles
Time Limits Apply to Most Legal Actions!
September 12th, 2012 by | Court Disputes, Debt Collection, Injury Compensation Claims, Wills & Estate Planning
You should be aware that there are time limits on certain Court actions. If you fall outside those time limits, your ability to pursue a remedy in Court may be lost (‘statute barred’). Examples of certain claims and the time limits that apply in South Australia: Breach of contract: 6 years after the date of… Read more »
How to Secure Payment of a Judgement Debt
September 11th, 2012 by | Court Disputes, Debt Collection, Finance & Securities
So you have finally got a judgment against a person for the sum of money that he owes you. The next step is to actually realise the money and often that can take time. The Problem: Say that while you negotiate a payment plan for your judgment sum to be paid to you, the debtor… Read more »
Builders & Contractors Payment Claims Under the Security of Payments Act – Ignore or Delay at Your Peril!
August 28th, 2012 by | Commercial Transactions, Court Disputes, Debt Collection, Property & Leases
Imagine this: you engage a contractor to perform construction work. You are issued with an invoice at the end of the job, but the work is defective or not what you asked for. You do what you think is the right thing and try and talk to the contractor about fixing the work before you… Read more »
How to “Bullet-Proof” Your Guarantee & Indemnity
August 22nd, 2012 by | Business Sale & Purchase, Commercial Transactions, Debt Collection, Finance & Securities, Property & Leases
What can go Wrong? A landlord owned prime commercial premises that were leased to company B, the branch of a national retail chain, and payment of the rent was guaranteed by company C. B transferred the lease to another company; both went bust. C didn’t have to pay the lost rent because the Guarantee only… Read more »
How to Get Paid Quickly and Minimise Bad Debts
August 18th, 2012 by | Commercial Transactions, Court Disputes, Debt Collection, Finance & Securities
In my experience there is a common theme amongst many failed businesses – the proprietors fail to understand the vital importance of getting paid on time and making sure that “writing-off” bad debts happens rarely, if ever. Successful businesses have credit control measures in place that include the following: Make sure your client understands how… Read more »
