Debt recovery can range from simple matters, such as recovering a loan given from one person to another, recovering bad debts on behalf of a business, or to the more complex, such as breach of a contract by a large commercial supplier or manufacturer.
Often, our team are engaged to attempt recovery of that debt either in whole or in part, after it has been written off or classified as a bad debt by the business. Steps taken can be quite varied and include:
- Making a demand against the debtor
- Negotiating a repayment plan with the debtor
- Negotiating and resolving any underlying dispute
- Statutory demands or liquidation of the company
- Obtain judgment against the debtor
- Enforcement steps
We also act on recovery involving mortgages, which could involve negotiations for payment, disputing the underlying debt, or preventing enforcement action from being taken.
On the other side, K3 also regularly act for debtors in fighting off attempts by a creditor for repayment. Often this will involve negotiations for payment, disputing the underlying debt, or preventing enforcement action from being taken.
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We had purchased a business that, unbeknownst to us, had guaranteed a third party. When this third party subsequently went into liquidation, the financier came after us in a situation where we had very little leverage or information. James as a litigator, communicated extraordinarily well with the financier’s legal counsel and bought us time and significant concessions. Through the whole process he was prompt and all over the detail. Unlike many professional, James’s follow up, to ensure the everything got closed out properly, was fantastic. Finally, his fees for the whole process were very reasonable
