Debt Collection - what is it good for?
What are your options for debt collection? First, let’s discuss these two issues:
The question of liability and the question of quantum:
- Liability: Do you have a contract that entitles you to be paid? We can assess within an hour. That deals with liability.
- Quantum: Before we even ask you about liability, we want to know what the amount owed is – the quantum. Is the outstanding amount large enough to waste your time or money on us, collecting for you? If not, why are you doing that work?!
If you cannot prove liability, you need to examine your terms of trade and/or your contract. We can help.
Before continuing with your business and minimising further outstanding debts, ask yourself: Do you have the self-discipline you need to say, “No I’m stopping work for you until you pay me what you owe, plus a deposit for any future work”.
If you don’t, you are better off spending your time at the beach!
We have a simple debt collection process – click here.
If you need more than a letter of demand, we can advise you about proceedings at VCAT and at the courts and we can also advise you about your terms of trade.
This article provides information that is general in nature and is not a substitute for legal advice.