According to a 2014 survey, South Africans are currently paying approximately 76% of their income on debt. This indicates that South Africa has a debt, as well as a debtors problem.
In this financial climate, businesses, small and large alike, cannot afford to let their debtors’ books spiral out of control.
For the purposes of clarity, it is convenient to divide the field of Debt Collection into two groups, namely:
- Soft Collections (Letters of Demand, Phone Calls, Blacklisting Etc)
- Hard Collections (Collections via litigation)
To ensure that debt is recovered as efficiently and quickly as possible, it is imperative that a coherent mix of soft and hard collections be followed.
You therefore need to ensure that a strategy is put in place to minimise bad debt, and improve your cashflow.
Services Rendered by Vermeulen Attorneys
- Drafting Letter of Demand;
- Contacting Debtor Telephonically;
- Drafting Acknowledgement of Debt;
- Tracing (via Credit Bureaus);
- Drafting and Issue of Summons;
- Applying for Default Judgment;
- Applying for Summary Judgment;
- Litigation in Defended Actions all the way to Trial;
- Preparation of Warrant of Execution;
- Ensuring that goods are properly executed against;
- Section 65 (Debtors’ Court)