An accountant that is preparing tax returns. Accounting and tax return documents, pages and calculators. An elderly couple planning with their superannuation funds. A business man working on his investment property in Gordon.

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Debt Recovery

  All is not lost if you have a judgement against a debtor, but you know they have no assets.

   

 

If the debtor has employment, you can order the employer to pay.  An Attachment of Earnings Order instructs the employer to deduct installments from the salary and redirect to the debtor.

As expected, there will be limitations but the Court can order that 20% of wages be re-directed to the creditor.

So it is not necessary to abandon debt recovery action whenever you think the debtor has no assets.

 

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Good, fundamental book keeping will ensure that your accounts are up to date and give you proper control of your business. With over 85% of business failure attributed to poor financial control, skilled and professional bookkeeping will give you results that speak for themselves.

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