Let’s start the new year with a short list of regular questions that we receive regarding debt collections and a few short answers.
The norm is that after 3 years that the debt was payable it has prescribed or in lay terms the debt is not recoverable any longer due to the fact that too long time period has passed. There are of course always exceptions to the rule so please contact your attorney to discuss before you assume no hope.
In most instances a verbal agreement is just as valid as a written agreement. Verbal agreement can also be binding and collection of monies are still able to proceed.
Never underestimate the manner in which dispute resolution can assist even in debt collection. We will attend to each matter with a process that will suit the progress at
best and we trust that we are well equipped to assist in this manner. We find that if a debtor understands what they are paying for, they give better co-operation in making payments. If all else fails and no agreement can be reached or the agreement is not honoured we proceed with litigation.
Our offices again have well equipped personal to first attempt inhouse tracing, and if this is not successful we have a great source of 3rd party tracers which we appoint on a no trace no fee structure.
Here we normally discuss the following factors with our clients to assist in making the decision themselves:
All the above being said, appoint an attorney to assist in debt collection you can trust to properly explain all of the above or any other questions you may have as this will definitely assist you or your business in handing over collection matters with peace of mind, knowing that it will be attended to in the correct manner and to YOUR benefit.
Get in touch with us to discuss how we can help you with your challenges