S+P Walters is a commercial law firm servicing clients across Lismore, Ballina, Byron Bay, Casino and the greater Northern Rivers.
The firms provides advice to individuals and business on all kinds of transactional work – from leasing, domestic conveyancing and setting up partnerships, to drafting and advising on commercial agreements or administering large block residential subdivisions – with the kind of accessible expertise and in depth knowledge that only a local firm can provide.
When it comes to debt recovery, it pays to have the right advice from the outset.
A lot of “smaller” debt recovery matters (below $100,000) are dealt with in the Local Court. If successful in the Local Court of NSW, it can be difficult to obtain a proper costs order against the defendant, especially in small claims matters (below $20,000) and for debts between $20,000 and $50,000, due to the restrictive costs regime that applies. This makes engaging a Solicitor to act in smaller debt recovery matters below $50,000 problematic because costs can quickly escalate beyond the amount of the actual debt.
The District Court of NSW has jurisdiction to hear debt recovery claims between $100,000 and $750,000. The Supreme Court has jurisdiction to hear all matters above $750,000. It makes more sense to engage Solicitors in those monetary claims as, if successful, it is likely that an appropriate costs order will be made against the unsuccessful party.
It is a good idea to make reasonable offers to settle (Offers of Compromise or “Calderbank” offers) during the proceedings as: (a) if accepted, the stress and costs of a Hearing will be avoided, and (b) if not accepted, such offers can assist the client to obtain a better costs order (“indemnity” costs) than otherwise would ordinarily be the case.
Further, there are various mechanisms available to enforce a Judgment against a defendant in an effort to recover the sums owed. These mechanisms range from issuing an Examination Notice wherein the defendant can propose a payment of the Judgment by instalments, to a Writ for the Levy of Property, and all the way to Bankruptcy proceedings (for an individual) or Winding Up Application in Insolvency (for a company).
We have acted in many and varied debt recovery matters and assisted clients to recover sums owed. If you need advice or assistance in respect of a debt recovery matter, please do not hesitate to contact our Solicitor Clint Braid on (02) 6621 8833 or email on email@example.com
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S+P Walters Solicitors has the experience and legal talent you need to win your case.