Debt Recovery
At MMR, we recognise the significance of cash flow for businesses and the detrimental effects that bad debt can have on your financial records.
Our team has developed a streamlined and straightforward, yet highly effective debt recovery process. Regardless of the stage at which we intervene, we strive to ensure that your debt is resolved.
When it comes to debt recovery, we adopt a highly pragmatic approach, taking into account all relevant factors throughout the process. The skilled lawyers at MMR have a proven track record of successfully recovering debts across various jurisdictions.
Our Process is as Follows:
Obtaining Instructions
To ensure the smooth recovery of your debt, we start by gathering comprehensive instructions and compiling all relevant documents. We have designed a simple application form that allows us to record your instructions accurately and concisely.
Letter of Demand
We will customise a letter of demand tailored to your specific recovery needs. This initial contact with the debtor aims to maximise its effectiveness and prompt a response.
Secondary Contact
If our letter of demand goes unanswered, we will initiate follow-up contact via email or telephone before resorting to legal proceedings. This step aims to encourage debtor cooperation and explore alternatives to litigation.
Legal Proceedings
We will determine the most suitable course of action to strengthen your position against the debtor. Our range of debt recovery methods includes initiating legal proceedings, filing VCAT applications, issuing creditor’s statutory demands, and pursuing bankruptcy when appropriate.
Throughout the process, our team will keep you well-informed and provide regular updates on the status of your case.
Rest assured, our debt recovery methods have undergone rigorous testing and have a proven track record of delivering successful results.