Looking for help with Bankruptcy & Insolvency?
Australian Debt Recovery has skilled insolvency lawyers who understand the obligations and rights of both creditors and debtors. This is critical in reaching the best possible outcome for you or your company when in financial trouble.
Our insolvency lawyers are all experienced business litigators who are adept at counselling businesses and providing legal advice on the finer points of the Corporations Act 2001. Insolvency and corporate restructuring can be complicated, but with Owen Hodge Lawyers’ advice and guidance, we’ll make sure you receive the best possible outcome.
Our fees are usually recovered from the debtor
All cases are managed by an experienced lawyer
Most clients receive their debts paid in full
Our fees are usually recovered from the debtor
All cases are managed by an experienced lawyer
Most clients receive their debts paid in full
Our fees are usually paid by the person who owes the debt (‘the debtor’).
This means that most of our clients are NOT out of pocket.
In fact, many of our clients keep MORE of their money when hiring us, compared to a debt collection agency.
Why? We don’t charge commissions.
Want to learn more?
Find out how you can keep more of your money if you hire a lawyer.
John runs a small business and sends an invoice to one of his clients for $10,000.00. Unfortunately, John’s client fails to pay for John’s services.
What should John do?
John is unsure if he should hire a:
Here’s how each decision could affect the final outcome.
Scenario A:
John engages the help of a debt collection agency. The debt collection agency tells John that they will take a 15% commission of the debt as payment. This is an industry-standard for debt collection agencies. What does it mean? In simple terms, if the debt collection agency is successful, $1,500.00 of John’s money will go toward the debt collection agency, leaving him with $8,500.00.
Scenario B:
John engages the help of Australia Debt Recovery. We are a law firm that specialises in debt recovery.
We provide John with a fixed costs agreement that reflects Schedule 1 of the Legal Profession Uniform Law Application Regulation 2015 (NSW). This agreement details the maximum legal costs that may be recovered from a Defendant. In most cases, we’re successful in recovering all legal costs from the defendant. And the client is not required to pay upfront costs.
John decides to proceed with our services.
A Statement of Claim is filed with the NSW Local Court.
28 days later, the Court awards Default Judgment in John’s favour.
John asks us how he can get his money and we advise on the available options.
As a result, John decides to proceed with a Garnishee Order naming the debtor’s bank account.
A garnishee order is a court order that allows you to recover the judgment debt from:
In other words, it’s a court order that tells the garnishee to pay the money they hold on behalf of the other party to you. The garnishee is the person or institution that holds the money.
John receives $10,000.00 in addition to legal costs and interest. After the legal costs are paid, John is left with $10,000.00 in addition to the interest owed to him.
The amount of interest varies depending on the circumstances of each case.
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What should John do?
If John proceeds with scenario B, he’ll keep $1500.00 more of his hard-earned money, compared to hiring a standard debt collection agency.
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