The document outlines the debt recovery process, beginning with creditor communication with the debtor regarding overdue payments. If there's no response, a formal warning is issued, followed by potential legal action through a law firm and a 'letter of demand'. Ultimately, if the debt remains unpaid, enforcement actions will commence.

1. Insights to Debt Recovery Process

2. The failure of a debtor to pay a
creditor on time.

3. The creditor will try to
communicate with the debtor
through phone calls, emails, etc
in order to know the reason
behind delay in payment.

4. Then the next step is to send
the debtor a formal letter of
email warning of potential
legal action.

5. In the absence of any
response, the next step may
be legal action through a
specialist law firm.

6. A 'letter of demand' may be sent
stating that legal proceedings
may commence if the debt is not
paid by a certain due date.

7. If still the debt is not paid
the debt enforcement
process commences.

8. Presented By
Boston Commercial Services Pty Limited
www.bostoncommercialservices.com.au