Debt Recovery

debt-recoveryOpusRed understands the importance of debt recovery for businesses, lenders and other creditors. OpusRed focuses on ensuring that it works closely with its clients to ensure it takes a positive and professional approach to collection, providing value for money and a high recovery rate.

We understand that, although the recovery of debts is important to the cash flow of a client, maintaining a constructive relationship with the debtor is paramount in maintaining a client’s reputation.

We act for all corporate clients including small and medium enterprises and clients who require a value for money service that often only a smaller legal practice can provide. We also pride ourselves in providing a personal service, with regular updates provided in a professional manner. Our rates are extremely competitive and retainers or fixed fees can be agreed by arrangement.

Our Debt Recovery process is tailored to ensuring costs are kept low and the appropriate commercial decisions are made at every stage.

  1. Initial Review Stage - We provide an initial review of your current circumstances and consider the matter and the documents we may require to take further action.
  2. Pre-Legal Stage – Following receipt of all relevant documents, we will analyse each case and provide you with our clear opinion of the most cost-effective approach to recover the debt. This may simply be by negotiation with the debtor or their legal adviser or a letter of demand. Upon request, the letter of demand will be drafted within 48 hours of receipt of all relevant information. We will also consider if there is a threat of counter-claim, and in such instances, work with you in order to reach a commercial resolution with the debtor, saving you both time and costs. If a solution offered by the debtor is not acceptable, we will move to the legal stage, advising you of the expected costs and merits of the case should the matter be litigated.
  3. Legal Stage – If demands are issued and not complied with, proceedings can be issued against the debtor to enforce the terms of the agreement. We will only advise you to issue proceedings if we believe at the time, it will achieve a-cost effective commercial result for you.
  4. Enforcement Stage – As soon as a successful order for judgment has been obtained, we will enforce the debt against the debtor. If the debtor refuses to pay, there are a number of options available, depending on the debtors circumstances including garnishing wages, bank accounts and seizing assets. In certain circumstances, we may also recommend issuing a statutory demand or a bankruptcy notice.

Why not try our “Dealing with Debt Package” for a fixed fee of $500 (plus gst) which includes:

  • a 60 min meeting with a senior lawyer to discuss your circumstances.
  • a review of your relevant documents.
  • drafting a letter of demand or other legal letter to assist in resolving the dispute.

You will then be in a position to resolve the matter yourself or take it to the next stage in a cost effective manner. If you would like to book in to our “Dealing with Debt Package” please send us an email via our Contact page with the dates and times your are free and we will send you an appointment time that suits you or give us a call on 1300 676 787.