Growing your business with cashflow

17th November, 2007

Having your own business requires you to manage many aspects to ensure survival and growth.  Whether it be targeting new markets, adapting to emerging trends or a simple expansion strategy the lifeline to your business is having effective cash flow.

Many businesses can experience times when their cash flow stream has been less than their projections due to some clients not honouring their payment obligations.  Hence your business might not be operating as effectively as it should.

At Scoglio Law, we believe that we are in a unique position to assist in the recovery of your debts. We have a full-time paralegal with extensive experience in debt collection not to mention lawyers who can assist at any time.

In addition, we have systems in place which will allow for the dispatching of letters of demand to your debtors on the same day we receive instructions from you. We can also personally design forms for your business to enable you to fill in a minimal amount of details and fax your instructions to us.

If a customer does not comply with a letter of demand within the required time, we can quickly file proceedings in the appropriate court and obtain Judgment, if the matter is not defended, at the soonest opportunity.

We once had a client that was facing problems from a customer that had not paid their account for two years.  Within 45 days we had instituted and served proceedings and obtained full payment plus a good portion of our client’s legal costs.

Did you know that if your customer’s debt is less than $7,500.00 there is a special procedure available in the Magistrates Court in its minor debt jurisdiction. After a claim and a defence are filed, the matter will be listed for a hearing usually between one and two months later – enabling a speedy resolution of your matter.

Although representation by solicitors is not permitted at Magistrates Courts’ minor debt hearings, we are happy to assist in the drawing of your claim and preparation of your case.

For debts above $7,500.00 to $50,000.00 we now have the ability to institute proceedings online with the Brisbane Magistrates Court and provide you with a claim instantaneously provided we are in possession of all the relevant information.

If you have bad debts and would like our assistance to recover them, or simply want more information about how our processes can work for you, please call Tony Scoglio on (07) 3833 2100 or tony@scogliolaw.com.au

The information produced in this article is for information purposes only.  It is not intended that you act on this advice.  Should you wish to do so it is recommended that you seek further legal advice and/or financial advice.