Debt Recovery

Article courtesy of Law Dot News | Debit Recovery Debit Recovery - Now Creditors Can Apply for Directors to be Declared Delinquent “He who is quick to borrow is slow to pay” (Old proverb) Debit Recovery - A recent High Court decision means that, for the first time, creditors of debtor companies are specifically cleared to apply for the company’sRead more

Article courtesy of Law Dot News | Debt Collection | Debt Recovery Debt Collection – Two Recovery Options “Creditors have better memories than debtors” (Benjamin Franklin) How well you manage your debtors’ book, and how successful you are in actually collecting monies due to you, should always be a management priority. It can spell the difference between a successful, profitableRead more

Article courtesy of Law Dot News | Legal Advice - Debt Recovery Don’t Give a Loan or Credit to Anyone (Not Even a Friend) Without Legal Advice! “The requirement that credit providers must be registered allows for their control and regulation, especially in relation to their financial probity and integrity, thereby avoiding the unscrupulous exploitation of credit consumers by so-calledRead more

Article courtesy of Law Dot News | Debit Recovery | Insolvency | Liquidation Creditors: How to Secure Your Claim with a Notarial Bond You should always take as much security for your claims as you possibly can before advancing credit or lending money to a debtor. That’s because if your debtor fails and is “liquidated” (if a corporate) or “sequestrated”Read more

Article courtesy of Law Dot News | Property and Debt Recovery It’s Not Simple to Sell a House in Execution (Even if a Trust Owns It) “A court shall not authorise execution against immovable property which is the primary residence of a judgment debtor unless the court having considered all relevant factors, considers that execution against such property is warranted”Read more

Article courtesy of Law Dot News | Business Law - Company / Corporate Compliance Directors – When Are They Personally Liable? “… for the benefit of immunity from liability for its debts, those running the corporation may not use its formal identity to incur obligations recklessly, grossly negligently or fraudulently. If they do, they risk being made personally liable.” (QuotedRead more

Article courtesy of Law Dot News | Family Law | Credit Law | Debit Recovery The Trouble with Family Loans: A R540,000 Lesson “How sharper than a serpent's tooth it is to have a thankless child!” (Shakespeare) “Family helps family in times of need” - that’s been part of human culture since long before the dawn of history but beRead more

Article courtesy of Law Dot News | Debit Recovery | Insolvency / Liquidation Application Debtor Not Paying? Consider a Liquidation Application “When debtors once have borrowed all we have to lend, they are very apt to grow shy of their creditors’ company” (John Vanbrugh) Bad debt is a major issue for many businesses in these hard economic times – notRead more

Sequestrate

Article courtesy of Law Dot News – Debit Recovery & Litigation Suing someone? Get the money before its gone! “Pyrrhic victory”, n. A very costly victory, wherein the considerable losses outweigh the gain, so as to render the struggle not worth the cost (Wiktionary) With our economic woes unlikely to abate any time soon, expect an increasing number of yourRead more