Legal Collection
How does Legal Collection work?
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If the recovery process requires legal support, we can introduce you to the best law firms around the world. Our extensive network of law firms can support your company in its efforts to recover outstanding debts using legal action. Payfor sends them your case, our history with the debtor in order to secure an effective appraisal at no cost to you.
In a seamless process, during the 30 Day Chase Campaign we automatically check with lawyers in the respective territory of the jurisdiction of the debt. This helps you understand what legal remedies exist to recover the debt through litigation.
Benefits of utilising Payfor’s Global Legal Network:
Receive a free Legal Appraisal of your debt
Get details of 3-4 specific steps & cost
Payfor guarantees competitive rates
Know if its worth investing in legal action
Use legal pressure to collect the debt
What Happens Next?
Lawyer sends Letter of Demand to debtor
Lawyer issues legal proceedings
Payfor discusses settlement with debtor
Or judge issues judgement (usually against the debtor)
Payfor enforces judgement against debtor
What If I already have a judgement?
If you already took legal action, Payfor can assist you in either enforcing the judgement in the respective jurisdiction (ie; freeze or confiscate assets) or track down former directors if they are tied to the judgement.
Dispute Resolution & Mediation:
Sometimes it is the case that disputes arise between companies. In such cases, Payfor can adapt its approach from recovery to mediation. Sometimes it takes a third party to find the solution.
There are numerous factors to legal collection to consider and weigh up. Payfor uses its absolute best efforts to dig inside the details of your case in order to seek creative ways to collect complex debts all the whilst keeping your costs to a minimum.
To find out more about how Payfor can help you with Legal Collection read our FAQs here or book an appointment to discuss your case here.
Our Fee
Payfor’s fee schedule is a commission based rate card with different percentages charged calculated on the amount of the claim, age and location.