Mediation, in the legal world, is used to refer to the process of settling a disagreement between parties, without engaging in any form of litigation. It typically involves the presence of a third party, the mediator, who acts as a neutral ground in order to ensure that the matter is fairly and methodically negotiated.
Consider the situation in which you carry out work for a client, at your own cost and expense, only to receive excuse upon excuse as to why the client cannot pay the invoice which you’ve furnished them with. So what do you do when such a client does not pay your account for services rendered and your own amicable attempts have failed?
If the debt is relatively high or the debtor is exceptionally recalcitrant, the best course of action would be to appoint a professional debt collector.
A recent study has indicated that almost half of South Africans who have Credit accounts are in arrears. Many people seem to find themselves on the wrong side of debt collecting agencies or they continuously apply for loans or further credit in order to pay off their existing debt only to find themselves in mounting liability.
How worried should you be when the debt collectors come knocking?
In South Africa, the National Debt Collection Act (hereinafter referred to as the ‘Act’) governs the process of collecting debts. Debt collection occurs when an attorney, a person who is an agent of an attorney, or a registered debt collector collects, on behalf of the client, the capital amount plus lawful interest as well as the debt collector’s fee.
Consider the situation in which you carry out work for a client, at your own cost and expense, only to receive excuse upon excuse as to why the client cannot pay the invoice which you’ve furnished them with. So what do you do when such a client does not pay your account for services rendered and your own amicable attempts have failed?
A recent study has indicated that almost half of South Africans who have Credit accounts are in arrears. Many people seem to find themselves on the wrong side of debt collecting agencies or they continuously apply for loans or further credit in order to pay off their existing debt only to find themselves in mounting liability.
How worried should you be when the debt collectors come knocking?
