I’m owed money. Is it worth pursuing?

Are you owed money?  It’s a common misconception that the cost of taking legal action to recover money is so high that it’s just not worth doing.

We certainly understand that no-one wants to “throw good money after bad” and end up with a legal bill on top of the money that has been lost.

But fortunately the Australian legal system provides a variety of avenues for pursuing debtors that mean it is more often than not worth investing a small percentage of the original debt to investigate whether that debt is likely to be able to be recovered.

If you run a good business, with good terms of trade and expertly prepared documentation you are likely to be on solid ground to pursue a claim.  If you have also been diligent in keeping records and can show a clear history of events around the debt you are pursuing your chances of success are high.

But without the opportunity of having an expert debt recovery or dispute lawyer review your situation you will never know for sure if your money is worth pursuing.

When you seek advice you may also be surprised at how inexpensively a debt can be recovered.  For small debts, for example, the Queensland Civil and Administrative Tribunal (QCAT) provides an avenue that is relatively easy and inexpensive to follow to seek the recovery of debts up to $25,000.  And with some guidance from your lawyer you are likely to be able to follow the process yourself.

I’m owed money.  Is it worth pursuing?

For disputes involving larger sums of money, a review of your situation may result in your lawyer advising you to consider options including:

  • a simple letter of demand
  • a negotiated or mediated settlement
  • a court based settlement

Each situation is unique and your lawyer will provide a course of action that gives you the best possible chance of recovering your money.  If you are owed money and would like to recover it, you would be well advised to invest one hour of your time in seeking expert advice from a litigation lawyer.  In most instances, an experienced lawyer will be able to tell you what to expect and to help you reach the decision whether to pursue the matter or not.

If you are owed money, so long as you take that critical first step of contacting your lawyer for a review of your particular circumstances you won’t be left wondering if you have let money slip through your fingers that could have been recovered with the right advice.