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Debt Recovery and Loan Agreements

Debt Recovery

When faced with outstanding debts and unpaid obligations, your business’s financial health and your personal wellbeing can both suffer. At Websters Lawyers, we understand that cash flow is vital to the success of any business, and we also appreciate the emotional toll that lingering debts can take on your life. Whether your terms of trade or loan agreements were drafted by us or not, if you find yourself amid a debt recovery situation, it’s time to reach out to us.

Our experienced debt recovery lawyers can support you through every step of the recovery process, from the initial letter of demand right through to the summation of any necessary Court matters.

Before any Court action is commenced, you should speak to a lawyer for advice. As the amount of the debt and how it was incurred will dictate what preliminary or Court actions are required, debt recovery is not always a straightforward business.

Our debt collection services encompass a range of solutions, including:

  • Letters of demand
  • Court claims
  • Negotiated settlements
  • Worker’s Liens
  • Caveats and other charges on real estate
  • Court trials

For fast, experienced, and economical debt recovery services, our commercial law team is here to help.

Loan Agreements

In instances where you are considering extending a loan to another party and wish to avoid potential future disputes, Websters Lawyers is here to help. Our expertise extends beyond debt recovery to include the careful drafting of legally sound loan agreements, safeguarding your interests in financial transactions.

Whether your loan agreement is a straightforward borrowing arrangement or a multifaceted financial agreement, our skilled legal professionals can assist you in documenting the terms under which a lender may advance a sum of money to a borrower, such as:

  • Whether the funds may be secured against an asset of the borrower,
  • When and how the funds should be repaid,
  • Any covenants or warranties to be provided by lender,
  • Whether any consequences of default may apply, and
  • Whether interest will be applicable.

Even familial lending, colloquially known as the “Bank of Mum and Dad” can benefit from a legally binding structure. To obtain more in-depth information and guidance from our commercial lawyers, please contact us on (08) 8231 1363.

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*Please note: Websters lawyers is a South Australian based law firm, handling matters exclusive to South Australia, with offices located in Adelaide, Ridgehaven, Smithfield and Christies Beach.

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