Many times I encounter individuals that make the assertion that a judgment is only worth the paper its written on. Although this is many times accurate, there is most definitely means and methods to enforce a judgment. Here follow the methods that can be employed and...
Have you ever had issues with a clause in your agreement? This could be detrimental to your business, and could cost you money in the long term. In order to safeguard your business against legal action, non-payment and the like, your contract should be drafted in such...
To minimize the risk of contracting with bad payers is something that each business owner will want to figure out how to do. Prevention is always better than cure! So take a look at your processes and fix those before attempting to cure an already existing problem....
How often do you hear a financial officer of any corporation exclaim in exuberant happiness how under control his debtors book is? Likely never! And the closely succeeding statement would likely be that it seems impossible to collect these outstanding amounts, the...
Ever found it so painfully ironic that you need job experience to get a job? Well, debt can be the same. You need to have debt to make debt. But, let’s have a look at good debt vs bad debt. Good Debt: Good debt is a great example of "It takes money to make...
Let’s have a look at some of the biggest reasons debtors don’t pay your account. A lot of debtors don’t pay their accounts because there is a simple dispute that the creditor might feel is the debtor’s way of wasting time or prolonging payment. This might be true, but...
Many times we get asked, "What is an Acknowledgement of Debt?" and in this article, we will go over some points regarding this. An acknowledgement of debt (AOD) is when a debtor acknowledges his/her debt obligations. The debtor admits that he/she owes a sum of money...
Some legal documents such as hire purchase agreements, loan agreements and other trade debts usually have clauses protecting creditors against defaulting debtors. As part of their terms, a provision is included that binds the debtor to pay any legal costs...
Collecting outstanding debt from debtors can be a huge headache. That is why handing over a debt collection matter to an attorney could be beneficial. Here are a few suggestions of what information should be given to your attorney when handing over a debt collection...
