Any business is likely to suffer due to a lack of payment from their debtors. Those finances are important to keep any business afloat by paying their own creditors and paying their own bills. However, it can be difficult waiting for those debtors to pay their debts as the creditor will have no idea whether that income will come later or if it will never arrive at all, resulting in a loss from them that could be very difficult to recover. That is why businesses and individuals will enlist the services debt collection lawyers.
Debt collection law is the legal way to recover your outstanding debt from debtors. This is conducted with a specialist lawyer’s services. These services allow you and your business to legally recovery any outstanding payments, and that is done through fair, yet persistent means of communication, and if that does not materialise in the debts being settled, the case will escalate.
In order to ensure the fair recovery of debts and make provision for the regulation and control of fees charged by debt collectors, a regulatory body named The Council for Debt Collectors was created by an Act of Parliament.
The Act provides for the exercise of control over the occupation of debt collectors and legalises the recovery of fees or remuneration by registered debt collectors. The overall goal with the Act is to transform the debt collection system in South Africa by monitoring the conduct and professionalism of debt collectors and promoting a culture of good governance within the profession, thus contributing to protecting the public at large, as well as creditors. The Council for Debt Collectors will exercise control over the occupation of debt collectors.
Debt collection law is a very time-consuming activity that has become highly demanded in South Africa. Dreyer Engelbrecht Attorneys’ success comes from the dedication of our team to get the job done. This is in the continuous follow-up procedure that causes immense pressure and responsibility upon the debtor to acknowledge liability and ultimately to settle the debt.
There are two basic collection phases that we implement, that is our standard collections and legal collections. All accounts will first follow the standard collections phase and that should result in our client getting paid by the completion of this phase. However, should the debt still be unpaid the debt will follow into the legal collections phase. Firstly, we will register the debt within our database, and from there we will create and follow an intensive strategy containing the following: letters, telephone calls, faxes, personal visits, enquires, interviews and any other way of personal contact. During this phase, the whereabouts of the debtor will be traced, confirmed and updated. A payment plan will be negotiated and the financial position of the debtor established. Ultimately, settlement of the account.
Dreyer Engelbrecht Attorneys Inc is a law firm is based in Alberton and we are happy to assist you in recovering your outstanding debt, and we have a specialised team that is dedicated to helping our clients get their money. Our team members are dedicated, passionate and professional that specialises in debt collectors’ law.