Debt recovery is broader than most people think.
Common examples include:
• UNPAID INVOICES
Your client received the work, but never paid.
• PERSONAL OR BUSINESS LOANS
You lent someone money, and they failed to repay.
• REFUNDS OWED
You were promised a refund from an investment, business deal, programme or transaction that did not proceed.
• RENTAL ARREARS
Your tenant moved out owing rent, utilities or other charges.
• CONSTRUCTION PAYMENTS
You completed the work, submitted your claim, but payment never came.
• GOODS SUPPLIED
You delivered the products, but the buyer has not paid.
• UNPAID COMMISSIONS
You earned a commission, referral fee or agency fee, but it remains outstanding.
• SETTLEMENT PAYMENTS
The other party agreed to pay under a settlement, then stopped paying.
• BOUNCED CHEQUES
A cheque was issued to you, but it was dishonoured.
• DEPOSITS OR ADVANCE PAYMENTS
You paid money upfront, but the deal fell through and the money was never returned.
• SHAREHOLDER OR BUSINESS PARTNER DEBTS
Money is owed under loans, advances, reimbursements or buyout arrangements.
• PROFESSIONAL FEES
You provided legal, consulting, accounting, design or other professional services, but your fees remain unpaid.
A simple way to look at it:
Money was supposed to be paid to you, the payment is already due, you can show why it is owed.
That may be a recoverable debt.
Rudi Cheu (rudi@rulecolaw.com) is a content creator under the Newswav Creator programme, where you get to express yourself, be a citizen journalist, and at the same time monetize your content & reach millions of users on Newswav. Log in to creator.newswav.com and become a Newswav Creator now!
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