Legal Advice for Debt Recovery and Enforcement

Prove that I owe you. That’s the first thing your debtors will tell you when you ask for your money back. What you can do to recover your debt depends upon how much you lent and how you can prove it. It’s easier for institutional lenders who maintain a paper trail, but even they can sometimes face difficulties in debt recovery.

The solution? Debt collection solicitors.

So, let’s take a deep dive into what you can do to recover what’s yours.

Contact

It’s not rocket science. As a first step, you must of course reach out to the person who owes you, in case they’ve simply forgotten. Give them a call. Remember though, don’t make a nuisance of yourself. In Ireland, there are clear rules on how, when, and how often you can call your debtor for loan recovery. For instance, you can only call between 9 a.m. to 9 p.m. and you can only call a certain number of times. Laws like the Code of Conduct on Mortgage arrears, codes of practice for utilities, and the Consumer Protection Code for financial services, bestow certain rights on debtors and you cannot violate those rights. So, tread carefully.

Mediation

Mediation is voluntary. That said, in Ireland, courts encourage it. So, before you decide to sue, it would be a good idea to reach out to a mutual friend or someone who was present when the loan was given. They may be able to help convince the individual that money is owed. The Mediation Act 2017, governs mediation including financial disputes. The act lays down clear rules on who can mediate, how it should be done, and so on. There are several mediation services in Ireland who specialise in this. Some have qualified lawyers onboard while others operate solo. Yet others tie up with solicitor firms to help them process debt recovery cases seamlessly.

Enlist a Recovery Agency

There are some small and not so small agencies that specialise in recovering debts. Some of these agencies of course have debt dispute resolution solicitors onboard. Most though simply hire untrained agents to reach out to your debtors and repeatedly follow up for loan recovery. While this might seem like a cheaper solution, it can tantamount to harassment. And that is a criminal offence which may be reported to the Garda Síochána (Irish police), landing you in deeper trouble because the agency will not take responsibility.

What constitutes harassment? Things like repeated and frequent calling, calling members of the family, using abusive language, being personally abusive, and using both veiled and open threats.

If you want to avoid harassment, there is another option. You can use an online small claims service if your loan is below £5000. Don’t forget to check their validity and success rate before signing up.

Going to Court

If nothing works, naturally you’ll have to enlist the services of a solicitor for debt collection like Walsh and Partners. What can a debt recovery litigation solicitor do? He, or if you are hiring a firm like ours, they, can do more than you think. For instance, at Walsh and Partners, we hold your hand right from the first step – reaching out.

Things to Remember

When it comes to debt recovery, Ireland is one country that protects both the debtors as well as the creditors. For instance, there are certain protections like Debt Relief Notices (DRN) and Debt Settlement Agreements (DSA) afforded to debtors. Similarly, small business debt collections are also governed by a set of special rules dictating when and how you can reach out to your debtor. To understand what these laws are, and how they apply, you’ll need the services of personal debt recovery solicitors or small business debt collection solicitors, depending upon the type of loan you have given. Apart from this, recovery litigations depend upon a number of factors like the amount and tenure of your loan, the financial status of your debtor, and for how long the amount has been outstanding.

When should you hire a lawyer?

At Walsh and Partners, we believe the earlier the better. True there are several steps you can take at your end. But it requires time. Besides, given that Ireland has rather strict and extensive laws with respect to debt recovery, it would be best to hire someone after you have tried a few times to contact the debtor. We’ll take it from there and guide you on the way forward.

While no one can guarantee that you’ll win the case, Walsh and Partners have solicitors in every area of law already on board. Be it business debt collection solicitors or debt dispute resolution solicitors rest assured that you’ll surely find one here. We can also help you wade through insolvency, bankruptcy, and other issues that plague lenders, apart from offering legal advice for debt recovery and enforcement.

Have a debt to recover? Reach out to us now.