If an individual or Company owe you money, then what are the chances of you actually recovering that money?
Even before considering whether the Court would judge in your favour, it is better to first ask: Am I realistically able to obtain payment from the debtor? After all, what would be the point of a money Judgment that you cannot turn into money in your pocket?
Should your debtor lack any assets, you would likely waste money in obtaining a Judgment or issuing enforcement proceedings. If they do have assets, then you will need to know as much as possible about those assets; that way, you can consider the best way to obtain payment through enforcement of the Judgment.
Should you not have any information about your debtor’s financial circumstances, you will need to make enquiries to find as much information as you can. There are various methods open to a creditor in trying to obtain information about the debtor, including:
Knowledge is power: Only when you are armed with as much information as you can find out about your debtor will you be in a position to effectively enforce your Judgment against them.
If you would like to contact us for advice on debt recovery, then you can choose one of the following:
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