If you’re a business person, it’s almost certain that you will have had to deal with late payments from customers or clients for goods and services you supply. In most commercial situations, enforcing the debt can be a fairly straightforward process. However, if you need to take matters further and commence litigation, the procedures can be at a minimum, confusing, and for some, terrifying! Further to this, the legal costs associated with pursuing your debt may in some situations, likely exceed the debt itself.
How we work to resolve your debt dispute
The first thing to remember is that, more often than not, “we’ve all been there”. For example in the retail sector, the ebb and flow of the market can mean a business is low on cash during some periods of the year, and cash-rich during others.
At MDL, we understand this and take a holistic approach in resolving your dispute. We assess all available options to see if the matter can be resolved without having to litigate, and at minimum expense to you. In most situations, preservation of the business relationship between you and the debtor is important. We know this, understand this, and strive to ensure this is maintained if possible.
Often, the main factor against pursuing a debt concerns the commercial implications. How much am I seeking to recover vs. how much is it going to cost me to pursue? This is especially relevant to “minor debts” which are under $25,000.00. In these situations, we can provide a value-based service at a fixed fee catered to your circumstances. In the context of small claims tribunals such as the Queensland Civil and Administrative Tribunal, what sets us apart is the advice we can provide you to help you be your own advocate; we can provide you basic tips in how to present an argument to increase your prospects in obtaining a favourable result.
However, our experience is not limited to the above. Our litigation department is well-versed in complex disputes and often deal with matters relating to business sale disputes, partnership disputes, joint venture disputes and other general commercial matters.
We know what strategy to take, what works and what doesn’t, and strive to achieve the best outcome for you. Further to this, we can provide advice in order to limit your risk and liability, and assist you in putting things in place to increase and expedite your successful recoveries in the future. In the end, we do not only want to assist you in your current dispute, but to assist you and your business to maximise its profitability in the future.
Get in touch with our debt recovery team for further advice
Reining in your debtors can be a daunting task for any business. At MDL we understand that not all situations are black and white, which is why we’ll work with you to facilitate the resolution of all your debt disputes, to serve your business’s best interests.