What are typical examples for debt recovery?
Debt recovery usually involves breaches of contractual arrangements by a customer or client or debtor who has failed to make payment for goods or services supplied by a client who is the creditor. A very common example is failure by a bank customer to pay their bank loan or credit card debts. Other examples include trade customers failing to pay suppliers or customers of professional service suppliers who have reneged on their commitment to pay for the services they have received.
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Related FAQs
- What are the advantages of using a law firm over traditional debt collection agencies?
- Is there a minimum debt value worth pursuing using a law firm?
- What are the advantages of dealing with a firm that has a specialised unit for debt recovery?
- Once judgment has achieved what enforcement options would normally be available?
- Can I pursue claims against debtors who have left New Zealand?
- Can I pursue judgments obtained outside New Zealand?
- What options are there if the debt is secured?
- Is there a time limit for enforcing a judgment?
- What are the differences between the Disputes Tribunal and District Court or High Court for the purpose of recovering debt?