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If you select Issue Final Demand, EDR will give the debtor 7 business days from the date of the letter to make payment directly to you. The Final Demand will be issued by the law practice letterhead. By selecting Issue Final Demand, it shows that you have taken the next step in hiring a professional debt recovery lawyer. It also signals to the debtor that you run your business in a serious manner and require getting paid what is owing to you.
When submitting a debt for recovery, it is important to follow these housekeeping rules:
• All data must be entered accurately.• The debtor location must be known. If not, EDR recommends hiring an investigator to locate a debtor.• Your claim must be genuine, have merit and be made in good faith.• Your claim must not have been determined by a court of law or tribunal at any time prior to submitting your claim.• By submitting your claim and supporting documents or other information, you are representing that the data is accurate and that you fully understand and agree to be bound by the terms of the client agreement and disclosure notice set out on this website. EDR will rely on this representation provided by you.
Some claims must be filed in specific tribunals such as NCAT. NCAT and other tribunals have limited power to award costs. This means that you may not recover solicitor’s costs or disbursements.
The debtor is only obliged to pay you the fixed filing fee, service fee and scale solicitor's costs if you win a defended hearing. On a defended and contested hearing, you may not recover all legal fees paid and as a consequence may be out of pocket.
Effective Debt Recovery team specialises in helping businesses recover debs in a speedy and cost effective manner.
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