The Coulter Legal litigation and dispute resolution team can assist you with a full range of debt recovery services so you can claim money that you are owed with full legal support. Our job is to help you secure payment as quickly and cost-effectively as possible, whether you are an individual or commercial operator. Our debt recovery lawyers have assisted clients in Geelong, Torquay and Melbourne.
Debt recovery is a formalised legal process and procedure where you, the creditor, can seek to claim money that is owed to you. This process can be initiated after all reasonable attempts to claim your funds have been exhausted.
We can provide a clear fee structure for your debt recovery procedure so there are no hidden costs. We can also work with you in an ongoing capacity as your dedicated debt recovery specialists to help you with future monetary disputes.
Debt recovery is a technical and often complex area to navigate if you are unfamiliar with the relevant processes and court rules. Coulter Legal can assist you by assessing the most effective method of recovering your debt as well as advising on the prospects of recovery. If we feel you can recover the debt without formal legal intervention, we’ll advise you.
There are some common industries and situations where debts occur:
There are a number of ways in which you, the creditor, can pursue the recovery of a debt with varying levels of escalation.
This can include:
(i) Magistrates’ Court. The Magistrates’ Court can deal with debt recovery matters up to the value of $100,000. If the claim is less than $10,000 it will be referred straight to arbitration rather than a trial, which is a less formal form of dispute resolution that allows the matter to be dealt with more efficiently. At arbitration, the ability to recover legal costs is limited. This is the case because the parties are encouraged to reach a resolution at an early stage without incurring significant legal costs which are likely disproportionate to the amount claimed.
(ii) County Court or Supreme Court. The County Court and the Supreme Court both have unlimited authority to deal with debt recovery matters and have no monetary cap on damages. Proceedings seeking to recover amounts more than $100,000 will likely be brought in these forums.
(iii) Tribunals. In Victoria, whilst the Victorian Civil and Administrative Tribunal (VCAT) does not have a general jurisdiction to hear debt recovery matters, it has jurisdiction which enables it to hear specific debt matters such as consumer and trader matters, building and construction matters and commercial lease matters
If a creditor is successful in obtaining an order from a court (or tribunal) for payment of a debt, there will often be a number of avenues available to the creditor to enforce the debt. For example, depending on the jurisdiction in which the order was made, the creditor may be able to:
There are a number of risks people may face when seeking to recover a debt, all varying depending on the method of recovery which is used and whether the debt is disputed.
Some common risks include:
We provide clear fees and do not charge commissions.