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Debt Recovery Law

Debt Recovery Law

Are you owed money that you would like to collect?

If so, you can take legal action to recover it with GRIESE LAWYERS. In certain situations, you can also recover your legal costs related to recovery proceedings. Griese Lawyers can assist you with:

  • Drafting an effective letter of Demand
  • Preparing a Statement of Claim to the Courts– used to demand either payment or defence of the matter within 21 days (after the Statement of Claim is served); and with
  • Entering Judgement against the debtor (if no defence is received within 21 days).

Once Judgement is entered, a number of procedures are available to enforce it. At Griese Lawyers we can assist you with

  • seizure of goods to sell in order to repay the debt,
  • Examination Summons (requiring the debtor to attend Court to display how they will satisfy the Judgement), and
  • Garnishees Orders (whereby the Court can order a third party to pay money to a creditor instead of a debtor).

If an individual is declared bankrupt by the Courts, a Trustee is appointed to take control of the insolvent person’s estate in order to turn the assets into cash to distribute among creditors. Bankruptcy proceedings are handled in either the Federal Court or the Federal Magistrates Court, depending on the complexity.

When a company is declared bankrupt the Court has the power to ‘wind it up’ and appoint a Liquidator, whose responsibility is to turn the assets into cash and distribute it in the order set out in the Corporations Act.