Outstanding invoices and late payments can be frustrating and time-consuming while risking your cash flow and business health. We act diligently to help recover money owed to you, so you can get on with business
Unlike mercantile agents, we do not charge a commission and offer fixed feed service for debt recovery so your business retains the majority of what is owning to your business.
Don’t suffer in silence, waiting for your bills to be paid.
If your debtor has failed to pay you on time and you’ve already attempted to recover the debt without success, ESY Lawyers can help you.
First, we discuss your situation and work out the best strategy to recover your owed money with minimal impact to your business. After all, our goal is to keep the matter out of the courts.
Our debt recovery lawyers will send the debtor a formal letter of demand informing the debtor that legal action will be taken if the debt is not paid within a given time limit. This is usually sufficient to spur the debtor into action, and is likely to result in full payment or compromise in a short time frame.
However, if they fail to respond or act, we will then discuss options for continuing with the recovery process.
It’s best to take action sooner than later if you want to recover your debt from suppliers and businesses who are failing to pay.
If a demand is ignored, we recommend that prompt action is taken. In our experience, the longer a debt remains outstanding increases the risk that payment will not be recovered if the debtor company ceases to trade or is placed into liquidation.
The debt recovery and enforcement process can range depending on the size and nature of the debt. However, with your team at ESY Lawyers, we assist you with everything, so you have complete peace of mind.
Unlike debt recovery agents, we do not charge a commission based on a percentage of the debt that is recovered. For most debt recovery matters, we offer fixed fees for certainty and peace of mind.
It is important to have an internal debt recovery plan for your business. If your debt is more than 30 days overdue, or the debtor raises a dispute, there is a risk of non-payment.
At ESY Lawyers, we recommend taking a proactive approach to debt recovery. If your business has exhausted its’ attempts to recover the debt, a solicitor’s letter of demand is a powerful and cost-effective method to apply pressure on the debtor to make payment or face litigation. If there is no response, debt recovery proceedings should be commenced without delay.
If your business is owed money by a company, the proposed insolvency reforms which are expected to come into effect at the beginning of 2021 may mean that getting paid just got that little bit harder.
The Federal Government has, consistently with expectations, announced that the temporary relief which has been in place for insolvency and bankruptcy will be extended until 31 December 2020.
The use of electronic signatures to execute business to business contracts has increased significantly, particularly since covid. A recent decision serves as a timely reminder to exercise caution when using electronic signatures to enter into contracts.
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