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Legal binding debt

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  • 23-04-2008 1:59pm
    #1
    allin-king
    Registered Users Posts: 191 ✭✭


    I am currently pursuing some bad debts for my company who have been promising payment for 1 year+, Is it possible to present these customers with a sort of promise of payment document? The reason I ask is because I would like to hire a debt collecting agency for anyone who will not sign the form and obviously tie down anyone who has.


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    #2
    kmick
    Registered Users Posts: 3,375 ✭✭✭kmick


    You can apply for a court order to have the company wound up for non-payment of debts. Speak to a solicitor.


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    #3
    faceman
    Moderators, Category Moderators, Arts Moderators, Entertainment Moderators, Social & Fun Moderators Posts: 16,641 CMod ✭✭✭✭faceman


    I wouldnt recommend pursuing that course of action unless you have plenty of cash!

    Do you have signed contracts and paperwork with your customers which outline payment terms? Have you sent written demand letters (aka dunning letters) to their customer advising their breach of contract?

    There are a number of options open to your rather than just getting a solicitor to get involved.

    Feel free to drop me a PM for some specific advice.


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    #4
    ircoha
    Closed Accounts Posts: 2,290 ✭✭✭ircoha


    faceman wrote: »
    I wouldnt recommend pursuing that course of action unless you have plenty of cash!

    Do you have signed contracts and paperwork with your customers which outline payment terms? Have you sent written demand letters (aka dunning letters) to their customer advising their breach of contract?

    There are a number of options open to your rather than just getting a solicitor to get involved.....

    +1 unless u want to pay by the letter rather than by results


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    #5
    blue4ever
    Registered Users Posts: 1,256 ✭✭✭blue4ever


    cant wind up a company for 'non payment' - many trading companies would be gone at this stage if that was the case - you can seen to have a company wound up if you feet its about to go bang and you then wont have a chance to collect.

    One year - not to put to fine a point on this: they are taking the p1ss out of you. You have no choice but to send a 10 day letter - then send it legal - simpe as that - dont bother with the debt collection agency.

    Don't threaten legal action and not follow it up.

    The letter of prominence - well thats covered in the original contract implied or otherwise.

    Plus - you are legally allowed to charge interest in the amount owed - per day actually.


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