DEBT COLLECTION LAW
WHAT IS DEBT COLLECTION?
According to the Experian’s Consumer Default Index, South African consumers are indebted in approximately R 1.72 trillion rand. This indicates a debt consumer problem.
Debt collection refers to the legal process of collecting outstanding debt owed by an individual or business. Our team of legal experts at Burger Huyser Attorneys are leading debt collection lawyers in Johannesburg, South Africa.
There are, unfortunately, individuals or businesses who for various reasons are not punctual with their payments and individuals who outright falls into arrears in paying their dues. In today’s economic climate, debt collection has become a necessary expense for the financial liquidity of your business.
A letter of demand is one of the most cost effective and fast methods used to encourage a debtor into settling arrears. If a debtor ignores a letter of demand, the decision needs to be made whether it would be worth proceeding with legal action to recover the debt.
INSIST ON DEALING WITH EXPERIENCED DEBT RECOVERY LAWYERS
Bad debt if not confronted, can spiral out of control in a very short time. Our team of experienced debt collection attorneys in Johannesburg, are equipped to assist you in collecting bad debt.
To write off bad debt is not an option for the profitability of a business. The best way to avoid bad debts is to be consistent and have the necessary bookkeeping system in place. This will enable you to immediately become aware if you have a problem that needs to be pursued by us.
Our Debt Collection Department is well known for its success rate in the recovery of all types of outstanding debt. We employ a time-efficient, no-nonsense way of collecting outstanding debt.