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Debt Recovery and Debt Solutions

Kingsford Lawyers prides itself in maintaining a medium firm feel by treating each client with care and consideration.

Experienced Debt Recovery and Settlement Lawyers

Kingsford Lawyers assists both sides of debt matters, we act for creditors and debtors, so whether you are looking at commencing debt recovery processes or needing advice and assistance upon recovery actions being taken against you, Kingsford Lawyers can help.

We help in the following areas:

  • Letters of demand;
  • Creditors Statutory demand;
  • Court proceedings;
  • Bankruptcy notices;
  • Winding up companies; and
  • Enforcing judgments.
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The first step for all debt recovery is always to draft and send a high-standard Letter of Demand before any legal action can commence. The purpose of a Letter of Demand is to state how much is owed and the details of the outstanding invoice/s that were to be paid. You further need to state the intention of commencing legal action should the debt not be repaid by a certain date; it is further recommended that its an open demand letter and perhaps a without prejudice letter of offer, If the letter of demand goes unanswered then it is time to commence debt recovery proceedings in Court.

A statutory demand is a demand for payment where a debt that is owed is over $4,000.00 under section 459E of the Corporations Act 2001 (Cth). Once a creditor’s statutory demand for payment has been served correctly to the registered address of the company, the debtor company will have 21 days to satisfy the demand letter or dispute the demand.

A debtor’s company’s failure to comply with a creditor statutory demand will result in the presumption that the company is trading insolvent and when this presumption has occurred the creditor will then be able to take the steps to wind the company up and force court-appointed liquidation.

Court proceedings are brought on foot once the other party is served with a statement of claim or court writ, and are filed in the respective jurisdiction:

  • Magistrates Court monetary limit – up to $150,000.00
  • District Court monetary limit – up to $750,000.00
  • Supreme Court monetary limit – over $750,000.00

Bringing court proceedings forward is a very complicated process and it is always advisable that you engage with the help of an experienced debt recovery/solutions lawyer to act on your behalf to ensure the strict process is followed correctly.

If an individual holds personal liability for a debt that is more than $10,000.00 then you can advise us to prepare and service a Bankruptcy Notice. Accuracy is key when preparing and filing a Bankruptcy Notice, as Bankruptcy Notices can be set aside on irregularities or defects in the notice, such as the amount being claimed, errors in the names of the creditor and the debtor, or that the notice has been completed incorrectly.

Once the notice has been prepared as per requirements, the notice is then served on the debtor, and an accompanying affidavit of service is filed with the court, the notice needs to be served correctly or else the debtor can have the notice set aside as per Section 16.01 of the Bankruptcy Regulations 1996 (CTH) which states:

  • Unless the contrary intention appears, where a document is required or permitted by the Act or these Regulations to be given or sent to, or served on, a person (other than a person mentioned in regulation 16.02), the document may be:
  • sent by post, or by a courier service, to the person at his or her last-known address; or
  • left, in an envelope or similar packaging marked with the person’s name and any relevant document exchange number, at a document exchange where the person maintains a document exchange facility; or
  • left, in an envelope or similar packaging marked with the person’s name, at the last-known address of the person; or
  • personally delivered to the person; or
  • sent by facsimile transmission or another mode of electronic transmission
The debtor will then have 21 days to seek legal advice and comply with the notice. If the debtor does not take steps to resolve and the 21 days lapse, then you can commence proceedings by presenting a creditors petition.

Once a company fails to comply with a Statutory Demand within the required timeframe, then the act of insolvency has occurred under the Corporations Act. The creditor has 3 months from the date the non-compliance occurred to file for a winding up of the debtor’s company and must be prepaid and posted to the address that is listed as the company’s registered office.

There is a very strict and in-depth process to ensure the correct process is followed in preparing and filing an originating application, it is very important you seek legal advice and have a lawyer complete this process for you.

Kingsford Lawyers assist in the enforcement options following a judgment order being obtained, these include:

  • Sheriff may arrive at your place of business to seize assets;
  • Warrant to seize property;
  • Oral examination for directors whereby they may be called into court to discuss the company’s financials position, assets, and trading;
  • Garnishee Order may occur whereby the debt owing to the creditor will automatically be withdrawn out of your company bank account
  • Statutory demand document may be sent which can lead to the presumption of insolvency by the courts if not addressed within 21days;

Other Debt Recovery Services Kingsford Lawyers Offers:

  • Pre-legal advice
  • Send and respond to letters of demand
  • Start dispute resolution or legal proceedings
  • Court appearances and written legal submissions
  • Outcome-focused settlement negotiations

As you can see, debt recovery and solutions can be very complicated. If you want to have the best representation possible, then call Kingsford Lawyers today!

Acting quickly will ensure that your business or personal reputation and relationships are not impacted, we act quickly to ensure we can solve your debt issues/disputes and can quickly negotiate payment plans or settlement deeds, especially if you are facing legal notices, legal action and have received notice of winding up your company, please reach out to us urgently.

We act for creditors and debtors, whether you are looking at commencing debt recovery processes or needing advice and assistance upon recovery actions being taken against you

Our Debt Relief Lawyers Are On Your Side

Kingsford Lawyers understands this on both sides, whether you are a creditor or a debtor we understand that outstanding debt causes stress and concern, and if the debt remains unpaid the outcome can be devastating and costly the longer the debt remains unpaid, reach out to Kingsford Lawyers today as we are skilled in assisting and we will have the right process options to best suit your requirements.

Cashflow is imperative for businesses, when cashflow is weakened even the most successful and profitable business can find their foundations will start to crack and immediate impacts can be forecasted.

Kingsford Lawyers offers our service Australia-wide, and we work on your side.

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our satisfied clients

After a particularly distressing time buying what we thought was a viable business turning into a complete nightmare and contacting many Solicitors for help, I came across Kingsford Lawyers Can I just honestly say the process was so comforting, Jasmina kept constant contact with me and did not stop with what was a difficult situation until she got her desired result.

I have no hesitation in recommending this company they completely changed our lives.
Nicole Shine
A big Shout out to Krissy and Victor, thank you for handling our case in such a professional manner and getting us the fabulous results we got.

Finally, we have our life back thanks to your expertise and efforts. A special thank you to Krissy for having such a big heart and caring about us in our darkest hours. Finding a solicitor with compassion and kindness is pretty rare.

I would have no hesitation in recommending both of you to others.
Karen A
Kingsford lawyers have been a beacon of hope to me at a time when my options appeared limited and the likelihood of a satisfactory resolution seemed nigh on impossible”.

The Kingsford lawyers were not only able to successfully defend me out of bankruptcy, their calm empathetic demeanour, offered me emotional support when I needed it the most. They went back to basics and drew out the facts with the utmost intellect and precision.

My only regret is not appointing them sooner. Thank you for helping me rebuild my life - you’re in a league of your own Kingston Lawyers.
KS
Kingsford Lawyers are a diligent and highly professional team who are quick to navigate and decipher the key issues at hand, from the most complex of matters.

After my initial meeting with the team, I knew that I was in safe hands. I had absolute confidence in their ability to represent me and negotiate a successful outcome. Kingsford Lawyers demonstrated expertise and through a carefully crafted strategic plan of action, were able to bring my entire litigation matter to a favourable resolution.

Their superior level of legal advice and meticulous focus is unwavering.
Paul
The best immigration agent & Lawyer (Madeleine) in my whole immigration process experience.

They did not just sort my case and finalise it, but also have always been supportive and polite. They were very responsive and were ready to clarify any confusion I had.

Strongly recommend 100%, you can hand them your case and trust them blindly for the best and quick solution.
Rana Yaqub
I was considering the purchase of a property that falls outside normal conveyancing procedures.

Jasmina provided excellent, clear and lucid advice about the sales contract and the potential pitfalls, both now and into the future. I was most impressed with her professionalism and the time that she was prepared to explain the issues drawing on her previous experiences with similar contracts.

I would highly recommend Kingsford Lawyers to anyone who might be considering moving into a "Lifestyle" community
Bob Eden
I strongly agree with my brother that Kingsford Lawyers are the best, and well experienced in their field.

My brother recommended consulting with Madeleine; she presented my documents so well that I was granted my visa within 3 weeks. She has always been supportive and friendly.

You can give her your case and can trust her indiscriminately.
Rana Tariq

CONTACT US

To speak with a lawyer from Kingsford about your case, call us on 1300 244 342 for a confidential, obligation-free chat.

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55 Hudsons Road, Spotswood VIC 3015

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2 Currumburra Road, Ashmore Qld 4214

India Office

E-13, UPSIDC, Site-IV, Greater Noida India

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343791 York House, Green Lane West,
Preston PR2 1XB

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