Retrieving Owed Money With The Help Of Debt Recovery Lawyers
Debt Recovery Lawyers To Reclaim Unpaid Loans
Money has always been a difficult subject between friends and family. It is also oftentimes an awkward topic of conversation between colleagues or even acquaintances. If we can avoid talking about it, we will. But there are instances when it can’t be helped, such as when someone who owes us money refuses to pay up during the agreed time no matter how many notices we have sent. If the money in question is substantial, then perhaps it is time to ask for assistance from Debt Recovery Lawyers.
Recovering the funds you have lent to another person can be a trying experience. It is more difficult if the borrower is a friend or a co-worker because it might sever your relationship with them. However, there are times when despite all your efforts in retrieving it, they still won’t get in touch with you to honour your agreement. Although it may seem extreme, calling for legal help might be the only way to recover your money.
When To Call On Debt Recovery Lawyers For Help
If the amount loaned is substantial, then you might want to consider hiring a debt recovery lawyer. Although there are no rules on how much the loan should be before you can consider legal recourse, the expenses that you would incur in legal fees plus the time you would spend might not be worth it if it’s only a few hundreds of dollars.
People who usually request for legal assistance are moneylenders who want their non-paying clients to keep their contract. But if you have lent money as a personal act and not as a business, you may still hire lawyers for assistance.
Debt Recovery Lawyers would write a letter request to the person who made the loan for repayment on your behalf, and if that doesn’t work, you can choose to take the person to court. There’s still the arbitration process that you and the other party would have to go through without your lawyers, but if the case isn’t resolved that way, then it would go to the civil court.