Legal Action for Debt Collection
Because legal action can be quite expensive, it is often the last resort creditors take to recover what is owed to them. Typically, creditors are willing to negotiate payment arrangements first. If you have outstanding payments, it is important you talk to your creditors and see if legal action can be avoided. If your creditors decide to go to court, being prepared for the consequences is vital.
Types of legal action include:
- Asset Seizure/Repossession
- Bank Account Seizure
- Wage Garnishee