The long arm of credit agencies.

When we sue for a debt, and obtain judgment, this is recorded with Veda, Australia’s main credit reference agency. It becomes a public record, and can be accessed by any potential lender.

A couple of years ago, we sued for a debt, but the debtor disappeared before we could force payment. When the debtor subsequently applied for a bank loan, our judgment came to the attention of the bank, who required him to clear it before proceeding with the loan.

When he contacted us out of the blue, asking to negotiate payment of a reduced sum, it was obvious to us that he had no choice but to pay the whole of the amount and the cost our client had spent in obtaining the judgment.

Our client was pleased finally to receive payment of the whole judgment including costs.

To use our online system for cost-effective business debt collecting, go to http://www.somervillelegal.com.au/page16889/Business-Debt-Collecting.aspx

 

 

 

 

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