Case Studies

Bankruptcy and Winding up Petitions

Following our recent article on Enforcement of a Judgment, Insolvency proceedings can also be useful tool to enforce a Judgment. Throughout this article, we briefly explore both bankruptcy and winding up petitions as a way to enforce an unpaid Judgment, as well as an effective mechanism for obtaining payment on an undisputed debt.

Minimise debtor days with effective credit control

Every business knows that cash is king. The best way to monitor cash flow is with effective credit control.
To ensure you get paid for your services and reduce debtor days you must take a positive approach to credit control and minimise the risks of debts becoming overdue. Establish a procedure for credit control, in accordance with your T&Cs and follow it.

Can you collect debts that are more than 6 years old?

The limitation period for collection of debts is 6 years from the date the debt became payable and after that time they may become statute barred.  This means that the debt is no longer recoverable, including by legal action in the courts. Whilst the debt might not be recoverable through the Court, we can still send the debtor a letter to try to collect these amounts owed to you on your behalf.  

🎉 Celebrating 20 years in business.
🎉 Celebrating 20 years in business.