About
Cash flow is the lifeblood of any business and, as the economy tightens, how effective you are in retaining that cash flow will depend on the extent of how effectively you utilize the legal procedures available to you. The Debt Collection process is a slow and frustrating process, by reason of the fact that it is bound to Court dates and time limits. At the outset, on receipt of a completed Sweeney McGann Debt Collection Instruction Sheet, we will advise you of the costs involved in the process and whether it is worthwhile embarking on the process. The ability of the Debtor to repay the said sum and the likelihood of success are other factors that are taken into consideration.
On completion of the Sweeney McGann Debt Collection Instruction Sheet and once the decision to initiate legal proceedings for the recovery of a debt has been made, a preliminary “seven day demand letter” is sent to the Debtor detailing how the sum due arose and payment is sought by a certain date. Failing payment by that date, the Debtor will be warned that proceedings will be issued and that the letter will be used to request the Court to fix the Debtor with the costs of bringing the said proceedings. In some cases, the preliminary letter will be successful in recovering the debt outstanding as many Debtors will pay the debt due on receipt of our warning letter to avoid increased costs and ultimately to avoid going to court. |
