Debt Collection & Asset Recovery
- In these challenging economic times, Anthony Fay & Company offers an efficient and competitive debt recovery service for businesses and individuals. Some of the steps can involve the following:
- Sending letters of demand
- Issuing legal proceedings in the District court, Circuit Court or High Court (depending upon the outstanding amount) in order to obtain judgement against the debtor. It is also vital that the debtor has sufficient assets and various enquiries are normally made prior to issuing proceedings.
- Enforcement of the judgment if the debtor(s) still refuses to pay. This is carried out by a number of methods including:
- Instruct the county/city sheriff to seize various assets belonging to the debtor(s).
- Register a judgment mortgage against lands of the debtor(s). It is subsequently possible to obtain a court order for the sale of the property in order to recoup the debt.
- Examination & Instalment orders wherein the debt is repaid by instalments over a period of time in accordance with the debtor’s means.
- The implications of the Civil Debt (Procedures) Act 2015 which provides in particular for the attachment of earnings or deductions from social welfare payments. The Act also makes provision for the abolition of imprisonment of debtors for non-payment of civil debts.
- Publication of the judgment in the Stubbs Gazette & Iris Ofiguil. This puts creditors on notice that the debtor(s) may be in financial difficulties and should affect their credit rating.
Other Matters
- Insolvencies which include liquidations, receiverships & examinerships for companies and bankruptcy for individuals.
- Complaints lodged with the Financial Regulator.
It is also strongly advisable for a business to review it’s terms and conditions, credit terms and the imposition of interest charges for late payment [in accordance with the European Communities (Late Payment in Commercial Transactions) Regulations].
Contact Our Office at 01-836 9805 for more information if you have an enquiry in relation to this area. You can speak to a solicitor, or simply enquire online and we will telephone you within 24 hours.
Disclaimer:- The information provided on this website is for educational purposes only and is not intended to be legal advice. Please note that legal advice should be sought in relation to individual circumstances