We have received enquiries from clients asking how can we help them to recover their debts.
First of all, the Notice of Demand (NOD) is your first step to getting your money back. It serves as a legal chaser to demand back the payment which they have owed. It also states your legal claims for the recipient to comply with, due to the recipient’s alleged breach of contract or legal wrong.
We can assist you in drafting and sending out a proper LOD that specifies:
the basis of your legal claim,
what you are demanding from the adverse party,
and the deadline by which its recipient(s) has to comply with your demands.
WHAT IF THE PERSON IGNORES THE NOTICE OF DEMAND?
We would advise accordingly based on the circumstances arise and depending on the claimed amount as well. If the amount is less than RM5,000.00, we would advise you to file your claims at Small Claims Court and explain the procedures to you.
If the claimed amount exceeds RM5,000.00, we would provide a customised and cost-effective legal solution to you whether to proceed with necessary legal action.
Alternatively, some clients would prefer to list their debtors under a trade reference to CTOS. Such information will be assessed or taken into consideration by financial institutions in the event that the debtor would like to obtain any loan. Details such as how much the debtor owes and for how long this amount is owed will be sent to CTOS. This will remain in the record until the outstanding debt has been settled. Do note that the trade referees must delist the debtor's information within three working days of full settlement.
WHAT IS THE PROCEDURE TO RECOVER DEBT?
1. Contact us with the following information: - A brief description of the dispute - The amount claimed
2. Our lawyer will be in touch to better understand your case and discuss any further details.
3. Upon receipt of payment, we will draft the LOD for your review and send it out upon receiving your approval.
HOW MUCH IS A NOTICE OF DEMAND?
It is a flat fee at affordable rates. Contact us to find out today.
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