DEBT COLLECTORS IN HELDERKRUIN

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 collectors in 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.

Debt Collectors in Helderkruin

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 Helderkruin, 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.

DEBT COLLECTION PROCESS IN SOUTH AFRICA. KNOW YOUR RIGHTS.

Step 1 Courtesy Call

After receipt of initial instructions, one of our attorneys will contact the debtor and explain that they have been formally handed over to attorneys. We clarify that it is a courtesy call and that, should they pay immediately, they will not be liable for legal costs. However, should they fail to make payment, we will hold them accountable for legal costs.

If the debtor cannot pay the amount in one instalment, we request that they sign an Acknowledgement of Debt. This document sets out exactly when the debtor is to make payment. If the debtor does not make payment in terms of the AOD, we proceed with legal action.

Benefits of an AOD includes:

  1. The debtor acknowledges to be indebted and confirms that he does not have any valid defence;
  2. The debtor agrees to be liable for legal costs on an attorney-client scale, which is a higher scale as provided for in the act;
  3. The debtor chooses the address on the AOD as his domicilium address. This means that that the sheriff can affix the summons to the door of the residence. This is very helpful when the debtor might have moved or refused to open for the sheriff.
  4. The debtor agrees to the jurisdiction of the Magistrate’s Court as opposed to the High Court, limiting legal fees;
  5. The debtor also renounces the benefits of the legal exceptions such as “excussion”, “division”, “cession of action”, “non causa debiti”, “no value received”, “revision of accounts” and “de duobus vel pluribus reis debendi”.

Step 2 Letter of Demand

Should the debtor fail to make payment as verbally agreed, we send a letter of demand. In terms of the Act, you are allowed to add interest from the date on which the letter of demand is sent.

Step 3 Summons

If the debtor still fails to pay, we proceed with summons against them. The sheriff will serve the summons on the debtor, whereafter they have 10 days to respond on whether they intend to defend the matter. If they fail to serve a notice of intention to defend within 10 days, we will apply for judgment.

Step 4 Execution

Upon receipt of judgement, we will issue a warrant of execution against the debtor’s property. The sheriff will go to the debtor’s premises and attach his movable property.

If the movable property is not sufficient to cover the debt, we proceed with a Section 65 financial enquiry. The debtor is called to court to give reasons why the debt cannot be paid. The court can make an order that the employer deduct an amount from the debtor’s salary (emoluments attachment order) and pay it towards his debt. If the debtor has money in a saving or investment account, we can also attach same.

If the aforementioned is still not enough to satisfy the debt, we can proceed with an application to sell the debtor’s immovable property.

NEED TO CONSULT WITH TOP DEBT COLLECTORS IN HELDERKRUIN? CONTACT OUR DEBT RECOVERY ATTORNEYS TODAY.

Choose Burger Huyser Attorneys as we have gained vast experience in dealing with Debt Collection matters over the years. We pride ourselves on delivering a discreet and confidential service, whilst ensuring you obtain the best possible outcome.

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Debt Collectors in Helderkruin

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